This week, SPACInsider is starting a weekly poll to get a pulse on the SPAC market.
The Fed begins a two-day meeting today on monetary policy and its press conference coming out of that at 2 pm ET will be watched closely for signs of when to expect rate cuts and how large they will be. ...READ MORE
SPAC activity is picking back up this week in between the dust settling on the SEC’s new SPAC rule and the Fed breaking its silence on potential rate cuts Wednesday. ...READ MORE
The Fed got more evidence of cooling inflation this morning as the Commerce Department’s personal consumption expenditures (PCE) price index came in just under expectations for December. ...READ MORE
Northern Star Investment Corp. II (NYSE:NSTB) has announced that it would liquidate its trust, but will also make the unorthodox move to continue functioning as a shell listed on the pink sheets. ...READ MORE
Earlier this week, CSLM Acquisition Corp. (NASDAQ:CSLM) announced a combination with AI software firm Fusemachines, but offered few financial details in the announcement press release.
It has since filed its merger documents and they include some terms that are becoming more common in SPAC transactions. ...READ MORE
Welsbach Technology (NASDAQ:WTMA) has signed a non-binding letter of intent (LOI) to combine with mining firm Evolution Metals for so far unspecified terms.
Palm Beach, Florida-based Evolution is developing both mining and refining capabilities to process battery and rare earth metals for a wide range of technology applications. ...READ MORE
Global System (NASDAQ:GSD) announced in an 8-K filing this morning that it has mutually terminated its combination with smart cities technology company DarkPulse (OTC:DPLS).
The move came after it received notice that Nasdaq would de-list its shares, following a back-and-forth over the SPAC’s failure to hold an annual meeting for the 2022 fiscal year. ...READ MORE
The SEC has voted 3-2 to approve new rules for SPACs in a meeting that was occasionally adversarial with Commissioners Hester Peirce and Mark Uyeda dissenting against the proposal. ...READ MORE
CSLM (NASDAQ:CSLM) has entered into a definitive agreement to combine with AI software company Fusemachines at an equity valuation of $200 million.
New York-based Fusemachines provides enterprise software for firms looking to optimize their business processes with AI-based tools. ...READ MORE
Another day, another US election primary, this time in New Hampshire.
But, as SPACInsider examined some of the boosts that conservative values-aligned SPACs and de-SPACs have experienced as election season kicked off, the next 24 hours will see that enthusiasm go head-to-head with the trepidation about what might come out of tomorrow’s SEC meeting on potential new SPAC rule changes. ...READ MORE
The start of the Fed’s quiet period, which is to last until the beginning of February, has been positive for the market so far, but a less productive silence may build around the SEC’s Wednesday meeting on SPAC rule changes. ...READ MORE
Bowen (NASDAQ:BOWN) has signed a merger agreement with Qianzhi BioTech for up to $86 million in share compensation.
The Shenzhen, China-based company provides plant-based remedies for various medical conditions.
The combined company is expected to trade on the Nasdaq once the deal is completed in the second or third quarter of 2024. ...READ MORE
Long awaited, the SEC has finally set 10 am ET Wednesday, January 24 as the kickoff of its discussion of its proposed SPAC rules.
The broad strokes of its proposals have been known for nearly two years (SPACInsider broke them down here) and some have already had effects in the market even in the absence of a concrete change. ...READ MORE
Quadro Acquisition One Corp. (NASDAQ:QDRO) has entered into a definitive agreement to combine with Global Growth Companies at an enterprise value of $3 billion.
Global Growth operates a diverse set of companies in the healthcare, financial services and communications fields. ...READ MORE
While East Asia continues to account for the largest portion of SPAC teams based outside of the US, the unique team behind Oxus (NASDAQ:OXUS) put a few more bricks in its path to completion this week. ...READ MORE
Vision Sensing (NASDAQ:VSAC) has entered into a definitive agreement to combine with Korean drug developer firm Mediforum at an enterprise value of $250 million.
Seoul-based Mediforum provides supplements and medicines derived from traditional ingredients to treat Alzheimer’s and memory loss. ...READ MORE
Despite a slow start to 2024, there are a variety of signs of the market coming back. Among them, NASDAQ CEO Adena Friedman noted yesterday in a Bloomberg interview in Davos that 85 companies have already lined up to list on the exchange. ...READ MORE
The SPAC market has officially entered an election season with former President Donald Trump’s victory Monday in the Iowa caucus on the road to a potentially securing the Republican nomination. ...READ MORE
Friday brings a few more potential swings in the ongoing rate cut-watch as the Producer Price Index (PPI) is set to drop at 8:30 am ET. ...READ MORE
