The Latest SPAC News and Rumors: February 4, 2022

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News:  Anghami soars on debut following SPAC merger, and new SPAC raises $200 million on Amsterdam Exchange

Mideast Spotify Rival Anghami Soars on Debut After SPAC Merger

Middle Eastern Spotify Technology SA rival Anghami (NASDAQ:ANGH) surged as much as 82% on its Nasdaq debut following its merger with a blank-check firm, even after all but a handful of investors opted to return their shares in exchange for cash.

Anghami shares opened at $17.91 on Friday, before paring some of the gains to trade around $12. It’s the first Arab technology company to list on Nasdaq and its debut comes a day after Spotify’s shares tumbled in the U.S. after disclosing a slowdown in growth, following a month of controversy involving podcast host Joe Rogan.

Vistas Media shareholders approved of its business combination with Anghami on January 20.

New SPAC Raises $200 Million on Amsterdam Exchange, First in 2022

A SPAC, Luxembourg-based GP Bullhound Acquisition I SE, raised 200 million euros ($229 million) on Friday on the Amsterdam Euronext, the first SPAC listing on the exchange in 2022.

Bullhound was set up by co-founders Hugh Campbell, Manish Madhvani and Per Roman to buy a software, digital media, digital commerce or fintech company with a value of between 800 million euros and 2 billion euros that operates in Europe or Israel.