Hints and tips:
...Trump Media went public through a merger with a blank-cheque company late last month....
...My mind went blank for a few seconds. I had to get to the venue for an interview with the CEO of HPE, the world’s second-largest server provider....
...VinFast shares rose 255 per cent after it joined markets through a merger with blank-cheque company Black Spade Acquisition. The rare Vietnamese listing is good publicity....
...Touted as an attractive way to list on the stock market, these blank-cheque firms have often merged with subpar companies at exorbitant valuations. Investors have now soured on the deals....
...The company eventually listed on Wall Street in 2021 by merging with a blank-cheque company in a $9bn deal....
...VinFast listed via a special purpose acquisition company — a so-called blank cheque vehicle, which raises funds and then looks for something to buy....
...Instead, the Vietnamese group opted to merge with the Hong Kong-based blank-cheque company Black Spade Acquisition and not raise outside money....
...VinFast abandoned a traditional initial public offering, instead listing through a Spac, a listed “blank cheque” company that had already secured money from investors....
...VinFast will now list via a merger with a blank-cheque Spac company on the lower-profile NYSE American exchange, without raising any outside money....
...From a high of nearly $31 shortly after it went public via a blank cheque merger last summer, it fell to a low of around $3.50 last month....
...Blank-cheque company listings are on track to surpass a record year of fundraising in 2020....
...Led by new ownership and management, EF Hutton has underwritten lots of US blank-cheque company offerings this year, even after regulators proposed strict new rules on the space....
...One thing to start: Donald Trump’s plan to take his media business public is in jeopardy after shareholders failed to approve a motion that would allow their blank-cheque acquisition company to keep pursuing...
...The impending blank-cheque deal for Lanvin Group, the fashion arm of Chinese conglomerate Fosun International, offers a bonus pot of 3.6mn shares that will be split among nonredeeming shareholders....
...The investment in Beacon Pointe follows KKR’s exit this year from wealth management firm Focus Financial, which it took public in 2018....
...This includes investment in the 2021 bankruptcy exit financing of Hertz as well as in funding companies going public through blank cheque companies, as well as in pre-IPO companies....
...The business, which books travel for corporates, is going public through a blank-cheque company backed by private equity group Apollo....
...American Express Global Business Travel announced it will go public in a merger with a New York-listed blank cheque company backed by Apollo Global Management in a bet on a recovery in post-pandemic business...
...Smart reads Insufficient funds As BuzzFeed made its blank-cheque debut last week, former staffers were ready to unleash the shares they’d been sitting on for years....
...If Trump succeeds, one of the biggest winners will be Patrick Orlando, a Florida-based financial executive whose little-known firm, ARC Global Investments II LLC, put up $25,000 to buy a stake in the blank...
...The group, which manages $47bn, is the biggest hedge fund investor in blank cheque companies, report DD’s Miles Kruppa and Ortenca Aliaj....
...Even more so given that Vivendi is in talks to sell half of its remaining 20 per cent stake in Universal to Ackman’s “blank cheque” company....
...BuzzFeed to list via SpacBuzzFeed has agreed to go public in a deal with a blank cheque company that it said gave the group an implied valuation of $1.5bn, as digital media companies rush to raise funding...
...One of the main reasons UK companies are opting to list in the US is that London has been slow to reform its rules on blank-cheque companies....
...The Spac that sparked a Sparc After Bill Ackman pulled off the largest blank-cheque listing to date in July last year, he promised investors an equally impressive deal....
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