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The Latest Breaking News from SPACs

Everton in 'takeover talks' with US group led by George Soros nephew and advised by Keith Harris

Everton have reportedly held preliminary talks with a US-based special purpose acquisition company with regards to a takeover

Liverpool Echo

Chamath Palihapitiya reopens Social Capital to outside investors

Social Capital is back in market, four years after turning into a family office.

Axios

Hony Capital Switches SPAC IPO Focus from U.S. to Hong Kong

Key Takeaways: Everest Acquisition Corporation, a SPAC co-funded by Hony Capital and ABCI Capital, applied to list in Hong Kong with the aim of acquiring companies in the healthcare, consumer goods and green sectors

Benzinga

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The SPAC King Folds, Ending the Blank-Check Frenzy

Chamath Palihapitiya pioneered a new way of raising money. Now he’s giving $1.6 billion back, and his preferred investment vehicle looks increasingly like a passing fad.

Businessweek

Chamath Palihapitiya Liquidating 2 SPACs: Are Dreams Of Creating The Next Berkshire Hathaway Over?

Known by many as the SPAC King, Chamath Palihapitiya was one of the biggest names associated with the growing number of blank check companies taking private companies public. When SPACs were hot with the market, Palihapitiya was loved by investors and companies.

Benzinga

Hong Kong SPAC Market Wilts as Global Fever Ebbs

Key Takeaways: Only three Hong Kong SPACs have listed since the city launched a local program early this year, and all now trade below their listing prices U.S. SPACs have raised $12.5 billion so far this year, less than 10% of what they raised in 2021, as the global SPAC…

Benzinga

Trump partner in Truth Social delays key vote on merger

A key decision over whether Donald Trump’s social media platform Truth Social will merge with a cash-rich company and get $1.3 billion to take on Twitter has been put off for another month

The Independent UK

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Company that held talks over £1bn stake in Liverpool owners FSG to dissolve

RedBall had been in talks over acquiring 25 per cent of FSG back in 2020

Liverpool Echo

IPO Market Crumbles As It Gets Hammered By Multiple Issues

The IPO market has been crushed, due to market volatility, geopolitical tensions, economic weakness, recession fears and more.

Investors Business Daily

Bill Ackman to wind up Spac and return $4bn to investors

Billionaire says he failed to find a suitable company to take public using his investment vehicle

The Guardian - UK

Bill Ackman To Wind Down SPAC After Failing to Find Target Company: What Happens To Shareholder Funds?

Pershing Square Tontine Holdings Ltd (NYSE: PSTH), a special purpose acquisition company (SPAC) promoted by hedge fund manager Bill Ackman, said on Monday that it will return $4 billion of capital in trust to shareholders.

Benzinga

From blockbuster to bust: Behind the precipitous drop in IPOs

Private companies are sitting on the sidelines in 2022 after a record setting year of initial public offerings fueled by cheap borrowing.

WEKU

How the man behind the Apple Store presided over a SPAC catastrophe

Enjoy Technology under Ron Johnson crashed from public listing to bankruptcy at breakneck speed

Financial Times

This Once-Popular Investment Pays Off By Doing Absolutely Nothing

The flood into SPACs has subsided, but some investors still found a surprising way for SPAC ETFs to pay off.

Investors Business Daily

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StockNews.com

3 SPAC Stocks Down More Than 60% Since Going Public

The Federal Reserve's interest rate increases to reduce inflationary pressure, and recession fears, have driven many SPAC stocks to significant price declines of late. The shares of Hims & Hers Health (HIMS), Clover Health Investments (CLOV), and BARK (BARK) have retreated more than 60% since these companies went public via…

Axios

Elizabeth Warren tries to smack SPACs

Warren has become more of a thought leader than legislator on capital markets issues.

Benzinga

Elizabeth Warren Proposes Legislation Against SPACs: What Investors Should Know

A U.S. Senator is stepping up the pressure on SPACs as an investment vehicle to take companies public. Here’s what the SPAC Accountability Act of 2022 is all about. What Happened: A new bill called SPAC Accountability Act of 2022 is being proposed by Democratic Senator Elizabeth Warren.

Los Angeles Times

Michael Hiltzik: Bitcoin, NFTs, SPACs, meme stocks — all those pandemic investment darlings are crashing

The finance world, which is constantly on the lookout for rules and laws it can break in the interest of making more money, may have come up against the one law that can't be broken: the law of gravity.

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Caixin Global

Opinion: SPACs’ Painful Reckoning Should Not Spell Their Demise

Despite criticisms, the underlying premise of allowing access to early-stage, private companies is admirable and much-needed in a market that often favors institutional players

Axios

Rumble may top Trump's Truth Social

Both social media upstarts plan to go public via SPACs, but only one is making major progress.

Benzinga

Merger Arbitrage Mondays – Blackstone Acquires American Campus Communities (ACC)

Merger activity decreased last week with four new deals announced and one deal completed. One of the four deals announced was a potential deal in the works. American Campus Communities (NYSE: ACC)

Benzinga

Could Starlink Go Public Via SPAC? Rumors Of Palihapitiya Deal Increase

Retail investors love a good story for stocks, as well as love the opportunity to get into some potential growth stories on the ground floor. SPACs were one of the hottest stories in 2020 and 2021 but have fallen out of favor with many companies trading well below the $10 price…

Benzinga

SEC Proposes For Greater Disclosures From Blank-Cheque Company Sponsors: FT

Wall Street's watchdog on Wednesday unveiled a draft new rule to enhance blank-check or special purpose acquisition company (SPAC) investor disclosures and to strip them of legal protection critics argue has allowed the sh

Benzinga

OnlyFans Explores SPAC Merger, Could Be Going Public: What You Need To Know

Social media platform OnlyFans could become the latest company to go public to continue its impressive growth. One element of the company’s business could be keeping investors from getting excited about the company and prevent a SPAC merger.

Investors Business Daily

New IPO Stocks Plummet To Slowest Pace In Six Years

The IPO Market in the first quarter dropped to its lowest level in six years, in terms of total offerings and proceeds raised

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