The Latest SPAC News and Rumors: August 3, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Forbes explores sale months after terminating SPAC deal and Interra refiles for Hong Kong listing
Forbes explores sale, hires Citigroup as banker
Forbes said on Tuesday it was exploring a sale of its business and had hired Citigroup to manage the process, months after it pulled out of a deal to go public through a SPAC.
“There were many interested parties, so we moved forward with a formal sale process and Citigroup was hired to manage this process,” a Forbes spokesperson said in an emailed response.
In June, Forbes sought to terminate its $630 million deal with former Point72 executive Jonathan Lin-led SPAC Magnum Opus (NYSE:OPA) to go public.
READInterra SPAC Refiles for Hong Kong Listing
A SPAC backed by Agricultural Bank of China Ltd.’s investment banking business has refiled for a listing in Hong Kong after its initial application lapsed.
Interra Acquisition Corp., which was among the first blank-check companies to file to offer its shares in Hong Kong when such vehicles were allowed earlier this year, filed an updated draft prospectus to the local bourse late Tuesday, days after its January application lapsed.
Interra, which is backed by ABCI Asset Management and investment firm Primavera Capital Group, plans to invest in high-growth companies focusing on China and nearby regions that specialize in sectors like innovative technology, consumer and new retail, advanced manufacturing, healthcare and climate action.