The Latest SPAC News and Rumors: September 28, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Cineplex asks Cineworld lenders to consider merger, German government aims to improve framework for SPACs, and Jupiter Wellness announces notice of allowance for Minoxidil Adjuvant Therapies patent
Cineplex Asks Cineworld Lenders to Consider US Merger, WSJ Says
Canadian theater chain Cineplex Inc. has weighed a merger with Cineworld Group Plc’s US arm, and has discussed a potential deal with the UK company’s lenders, the Wall Street Journal reported.
Cineplex has proposed taking over Regal Entertainment Group, and would give Cineworld’s lenders debt and stock backed by the combined entity, the newspaper said Wednesday, citing people with knowledge of the talks who it didn’t identify.
Cineworld shares jumped as much as 11% in London trading on Wednesday and were down 5.9% to 2.54 pence at 11:09 a.m. The shares have dropped more than 90% this year. Cineworld Group Plc had explored options including a secondary US listing, selling non-US assets, merging with a rival, and a SPAC deal before filing for bankruptcy.READ
German Government publishes key points to improve the German capital market
The German Government published a paper outlining a German Future Financing Act, which includes important changes to capital markets law, tax law and corporate law.
The framework conditions for modern forms of transactions (i.e., naked warrants and Special Purpose Acquisition Companies) shall be improved.READ
Jupiter Wellness Announces Notice of Allowance for Minoxidil Adjuvant Therapies U.S. Patent
Jupiter Wellness, Inc. (NASDAQ:JUPW), a wellness company focused on hair loss, eczema, burns, and sexual wellness announced today that the United States Patent and Trademark Office (USPTO) has granted a notice of allowance for patent application No. 16/747,685, titled “Minoxidil Adjuvant Therapies.” Jupiter Wellness acquired this case through its recent acquisition of Applied Biology assets.READ