The Latest SPAC News and Rumors: April 13, 2022

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

Latest SPAC News: Malaysia’s Hibiscus considers Singapore SPAC listing, Bridgestone partners with LanzaTech, and Credit Suisse forms new committee to review SPAC deals

Malaysia’s Hibiscus Explores Singapore SPAC Listing

Hibiscus Petroleum Bhd. is considering listing a special purpose acquisition company in Singapore that could raise as much as S$200 million ($147 million).

The Malaysian independent oil and gas explorer has held talks with potential advisers on the potential SPAC initial public offering. The blank-check company, which could raise S$150 million to S$200 million, will look for acquisition targets in the renewable energy sector.

Bridgestone Partners with LanzaTech to Pursue End-of-Life Tire Recycling Technologies

Bridgestone Americas (Bridgestone), a global leader in tires and sustainable mobility solutions, today announced an exclusive partnership with Carbon Capture and Transformation (CCT) company, LanzaTech NZ, Inc. (LanzaTech) to address end-of-life tire waste. The two companies will co-develop the first dedicated end-of-life tire recycling process leveraging LanzaTech’s proprietary CCT technology, creating a pathway toward tire material circularity and the decarbonization of new tire production.

As previously announced, LanzaTech has entered into a merger agreement for a business combination transaction with AMCI Acquisition Corp. II (Nasdaq: AMCI).

Credit Suisse Committee to Review SPAC Deals as SEC Rules Loom

Credit Suisse Group AG has formed a new committee to assess its involvement in blank check-firm mergers as underwriters face the prospect of heightened liability under proposed financial regulations.

The Swiss lender told staff in a memo that the “tactical deSPAC committee” will focus on pending mergers involving U.S. special purpose acquisition companies. Any transaction must be approved by both the new committee and the firm’s investment banking committee.