The Latest SPAC News and Rumors: April 20, 2023

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

Latest SPAC News: SeatGeek files to go public, Elenium eyes $185M deal with Integral 1, and Hong Kong SPAC pioneer calls for looser rules to revive market

SeatGeek Reportedly Files to Go Public After Failed SPAC Merger

Ticketing company SeatGeek filed confidentially with regulators earlier this month to go public, according to a new report from The Information.

SeatGeek’s planned IPO follows its previous attempt to go public via a SPAC merger with RedBall Acquisition Corp. Still, both parties agreed to terminate the deal last June due to market conditions. That merger would have valued SeatGeek at $1.35 billion and included investments from Kevin Durant’s Thirty Five Ventures and Utah Jazz owner Ryan Smith.

Young Rich Lister’s biometric start-up Elenium eyes $185M SPAC deal

Elenium Automation is plotting a Nasdaq listing with help from a home-grown special purpose acquisition company in a deal that the Melbourne digital identification start-up hopes will boost its valuation by 54 percent to $185 million.

Elenium – which has developed software and hardware to check identities using face and palm biometrics deployed at 25 airports round the world – did not have to look far from home to find its blank-cheque backer in Integral Acquisition Corporation 1.

Hong Kong SPAC Pioneer Calls for Looser Rules to Revive Market

One of the pioneers of blank-check companies in Hong Kong is urging local regulators to relax rules in order for more listings to happen, acquisitions to materialize and liquidity to improve.

Jason Wong, one of the first financiers of special purpose acquisition companies in the Asian financial hub, said Hong Kong should align its SPAC rulebook to that in the more lightly regulated US market, so as to attract stronger foreign demand. Changes needed include allowing retail investors to access SPAC offerings, boosting the proportion of embedded warrants and providing more clarity about who qualifies as a promoter.

Frost and Sullivan Projects US$6.50 SMX Shares Path for Potential Domination by SMX With Patented Plastic Recycle Solution Special for Earth Day Focus

SMX (Security Matters) (NASDAQ: SMX) is pleased to announce for Earth Day (22 April), the world’s largest environmental movement day, its part in the global sustainability effort by enabling companies and industries to comply with plastic regulations as they endeavor to meet their business goals and make plastic green.

Lionheart III (NASDAQ:LION) closed its deal with Security Matters (ASX:SMX) in March.