The Latest SPAC News and Rumors: April 12, 2023

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

Latest SPAC News: Pegasus Europe SPAC to be wound up and Falcon’s Beyond expands its franchise 

Europe’s biggest SPAC to be wound up

The biggest blank-check company in Europe, backed by LVMH founder Bernard Arnault and former UniCredit chief Jean Pierre Mustier, is set to be wound up after failing to find a target in the financial services sector. Pegasus Europe has announced that it will cease operations and is preparing to return capital to its investors at the beginning of May, subject to approval by shareholders.

Falcon’s Beyond Expands its Katmandu Franchise with a Yeti-focused Animated Preschool Series

Following the grand opening of Katmandu Park | Punta Cana, the Caribbean’s first world-class theme park, Falcon’s Beyond, a fully integrated global entertainment development company specializing in intellectual property (IP) creation and expansion, today announced its first animated series is now in development.

Last year, Falcon’s Beyond announced plans to become a publicly listed company through a business combination with FAST Acquisition Corp. II (“FAST II”) (NYSE: FZT), a special purpose acquisition company founded by Doug Jacob and headed by Sandy Beall.