The Latest SPAC News and Rumors: April 26, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SPACs draw Kenya’s interest, Trump’s Truth Social falls 9% following Twitter’s deal with Musk, and Ripplewood launches Amsterdam SPAC listing
SPACs Draw Kenya’s Interest Just as Industry Goes Cold in U.S.
Kenya’s markets regulator is considering allowing blank-check firms to list on the local stock market in an attempt to spur initial share sales in East Africa’s biggest economy.
The last initial public offering in Kenya was in 2015 when Stanlib Fahari I-REIT sold securities, according to data compiled by Bloomberg. The Nairobi Securities Exchange’s All Share Index has fallen 7.5% this year.READ
Trump’s Truth Social SPAC Down More Than 9% Following Twitter’s Deal With Musk
Shares of Digital World Acquisition Corp (NASDAQ:DWAC), the special purpose acquisition company that said it plans to take former President Donald Trump’s social media site Truth Social public, dropped more than 9% late Monday morning after reports emerged that Twitter was poised to accept an acquisition offer from billionaire Elon Musk.
The drop comes after DWAC shares were down 4% last week after Fox News denied reports it had created an account on Truth Social.READ
Buyout Firm Ripplewood Launches Amsterdam SPAC Listing
U.S. private equity firm Ripplewood said on Tuesday it was planning to list a special purpose acquisition company in Amsterdam in what will be this year’s second listing of a blank check vehicle on the Dutch stock exchange.
Ripplewood’s SPAC, named RA Special Acquisition Corporation, will seek to raise up to $225 million ahead of its market debut on April. 28.
RA will focus on financial services targets in Europe and will have 24 months to clinch a deal. That window can be extended by six months if approved by a shareholder vote.READ
NuScale Power Signs Memorandum of Understanding with GS Energy, Doosan, and Samsung to Explore Small Modular Reactor Deployment
NuScale Power LLC announced today it has signed a Memorandum of Understanding (MOU) with its partners, Samsung C&T Corporation (“Samsung”), Doosan Enerbility Co., Ltd. (“Doosan”), and GS Energy Corporation (“GS Energy”) to explore the deployment of NuScale’s VOYGR™ power plants. This announcement is a critical next step in bringing NuScale’s clean energy solution to Asia.
On December 14, 2021, NuScale announced a definitive business combination agreement with Spring Valley Acquisition Corp. (Nasdaq: SV, SVSVW).READ