The Latest SPAC News and Rumors: July 13, 2022


The Latest SPAC News and Rumors: July 13, 2022


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

Latest SPAC News:  Bridgetown Holdings weighs merger with Circles.Life, Polestar eyes new funding after 1H sales double, and DayDayCook alters listing strategy

Thiel-Backed SPAC Weighs $2.5 Billion Circles.Life Deal

Bridgetown Holdings Ltd. (NASDAQ:BTWN), the US-listed blank-check company backed by billionaires Peter Thiel and Richard Li, is considering a potential merger with digital telecom services provider Circles.Life, according to people familiar with the matter.

The special purpose acquisition company is holding early talks with Singapore-based Circles.Life to explore a transaction, the people said, asking not to be identified because the matter is private. Bridgetown could seek a valuation for the combined entity of about $1.5 billion to $2.5 billion, the people said.


EV Maker Polestar Looking For New Funds After First-Half Sales Jump 125%

Electric-vehicle maker Polestar Automotive Holding (NASDAQ:PSNY) is weighing a range of options to finance its expansion after sales more than doubled in the first half of this year.

The Swedish company, which listed in New York in June through a merger with Gores Guggenheim, delivered 21,200 cars in the first six months of 2022, a 125% increase from the same period last year, the EV maker said Wednesday in a statement.


DayDayCook Alters Strategy to Achieve Nasdaq Listing; Announced New Funding Round ahead of IPO

DayDayCook (“DDC” or the “Company”), a leading content-driven meal solutions brand in China announces its decision to terminate its previously proposed merger with SPAC ACE Global acquisition corp. Instead, the company has decided to undertake its IPO on the Nasdaq.

In the meantime, the Company has made progress in growing its plant-based foods business, announcing a strategic partnership with Nestle China and OATLY. Both partnerships are expected to launch as early as the third quarter of this year with DDC incorporate OATLY products into innovative and convenient ready-to-cook meal kits.

DayDayCook also announced a pre-IPO funding round with participation from new investors Brinc and Esquel Ventures, alongside existing investor C Ventures backed by New World Development CEO Adrian Cheng.


Rezolve Launches SmartCodes Designed to Engage Consumers and Drive Instant Transactions

Rezolve, a leader in mobile commerce and engagement, today announced the launch of SmartCode, a new trigger built on Rezolve’s platform, designed to provide an efficient approach for merchants to engage consumers and drive instant transactions.

Extending the standard QR code, SmartCode enhances mobile engagement with ‘One click checkout’ for physical locations, providing advanced experiences in mobile engagement for both merchants and consumers. Typically, a QR code provides a way to interact with a fixed page, while SmartCodes transfer consumers to the merchant’s app where they can instantly interact with the product or directly place an order.

On December 17, 2021, Rezolve announced that it had entered into a definitive business combination agreement with Armada Acquisition Corp. I (NASDAQ: AACI), a publicly traded special purpose acquisition company.