The Latest SPAC News and Rumors: December 12, 2022

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

Latest SPAC News: Infinite Reality nears merger with Newbury Street, Plan B Entertainment sells stake to French Mediawan, and Intuitive Machines tracks Artemis I Mission

Infinite Reality Nears Merger With Newbury Street SPAC

Infinite Reality Inc., a company that helps build metaverse experiences, is in advanced talks to go public through a merger with Newbury Street Acquisition Corp. (NASDAQ:NBST), according to Bloomberg.

A transaction, which has yet to be finalized, could be announced as soon as next week as long as talks don’t fall apart at the last minute.

Brad Pitt’s Plan B Sells Stake to French Mediawan

Brad Pitt’s Plan B Entertainment, the production company behind films like The Big Short, agreed to sell a “significant” stake to Mediawan SA, the French media conglomerate behind the hit series Call My Agent.

Mediawan is financing the deal through a capital increase with investments from shareholders including KKR, Atwater Capital and Societe Generale SA, the company said in a statement Saturday. Pitt and his Plan B partners Dede Gardner and Jeremy Kleiner will also become holders of Mediawan after the transaction. It values Plan B at more than €300 million, according to a person familiar with the deal.

Founded in 2015 as a SPAC by French TV producer Pierre-Antoine Capton, telecom billionaire Xavier Niel and Centerview Partners banker Matthieu Pigasse, Mediawan’s businesses range from TV to cinema production and content distribution.

Intuitive Machines Successfully Tracks Artemis I Mission to Record-Breaking Distance From Earth

Intuitive Machines, LLC, a leading exploration, infrastructure, and services company, today announced that it successfully tracked NASA’s Artemis I Mission as the spacecraft reached its farthest distance from Earth. We believe the results demonstrate the Company’s capability to augment NASA’s existing tracking measurements.

As previously announced on November 10, 2022, NASA authorized Intuitive Machines to utilize its mission control and global ground station network to track Artemis I using one-way Doppler measurements.

Inflection Point Acquisition Corp. (Nasdaq: IPAX) is a blank check company formed for the purpose of identifying and partnering with North American and European businesses in the consumer and technology sectors.