The Latest SPAC News and Rumors: January 7, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Averda in talks to go public through merger with Better World, Carousell and L Catterton said in $1.5B SPAC deal talks, and Fertitta seeks $250M payday
Dubai Waste Firm Averda Said to Be in Better World SPAC Merger Talks
Carousell, L Catterton Said in $1.5 Billion SPAC Deal Talks
Carousell Pte, a Singapore-based online classifieds marketplace operator, is in talks to go public through a merger with blank-check company L Catterton Asia Acquisition Corp. (NASDAQ:LCAA).
A transaction could value the combined entity at as much as $1.5 billion. Carousell has entered into exclusive talks with the special purpose acquisition company.
Fertitta Seeks a $250 Million PayDay After Ditching SPAC Deal
Fertitta Entertainment is planning to pay out $250 million to its founder and sole owner, thanks to some $5.6 billion the company plans to borrow in bond and loan markets this month when it refinances debt. Money managers are eager to lend to companies like Fertitta’s that pay relatively high yields and are posting record profits after people resumed traveling and eating out last year.
The refinancing comes just a month after Fertitta ditched an $8.6 billion plan to sell a stake in his empire to Fast Acquisition Corp. (NYSE:FST).
READBritish Tycoon Branson to List Blank-Check Company in Amsterdam
Billionaire British businessman Richard Branson is set to launch his first-ever European blank-check company on the Amsterdam stock exchange in the next few months, Sky News reported on Friday.
The tycoon is looking to list the new SPAC on the Euronext stock exchange in Amsterdam instead of the London bourse, where his Virgin Group empire is based.
The blank-check company will seek to raise an initial sum of 200 million euros ($225.94 million).
Trump-Linked Stocks Rally With Truth Social App Debut on the Horizon
The blank-check company set to bring Donald Trump’s media company public rallied along with other stocks tied to the former president after news his social media app is close to making its debut.
The Truth Social network app, a piece of Trump’s plans for a media and tech empire, is expected to be available starting Feb. 21, according to a posting in Apple’s App Store. Shares of Digital World Acquisition Corp.(NASDAQ:DWAC), the company set to merge with Trump Media & Technology Group, spiked 20% after the posting circulated in chatrooms and social media.
CF Acquisition Corp. VI (NASDAQ:CFVI), a blank-check firm set to bring Rumble Inc. public, also rose. Rumble and Trump Media have inked a tech and cloud services agreement for Rumble to deliver video and streaming for Truth Social. Shares of the SPAC rallied as much as 4.1%, extending a four-day winning streak.
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