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TikTok Rival Triller in Talks to Go Public Via SPAC

TikTok rival Triller Inc. is in talks with blank-check acquisition companies about a merger that could take the company public, a media report said.

The video-production-focused social-media company is negotiating a possible deal with special purpose acquisition companies, Reuters reported. 

Triller is working with investment bank Farvahar Partners, sources told Reuters.

SPACs, or blank-check companies, are publicly traded entities formed specifically to find and merge with operating companies.

Triller is also in talks with investors to privately raise as much as $250 million, Reuters reported. That effort, led by UBS, has so far secured $100 million at a $1.25 billion valuation, sources told Reuters.

Triller has said it seeks to capitalize on TikTok’s uncertain situation in the U.S. President Donald Trump’s administration has ordered TikTok’s Chinese parent, ByteDance, to shed the app due to concern that U.S. citizens’ personal data might be accessible to China’s communist government.

A federal judge

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Technology-focused SPAC Carney Technology Acquisition II files for a $350 million IPO

Carney Technology Acquisition II, a blank check company targeting the technology industry, filed on Friday with the SEC to raise up to $350 million in an initial public offering.

The Burlingame, CA-based company plans to raise $350 million by offering 35 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable $11.50. At the proposed deal size, Carney Technology Acquisition II would command a market value of $447 million.

The company is led by CEO, CFO, and Chairman David Roberson, who most recently served as SVP of Enterprise Servers, Storage and Networking at Hewlett-Packard, and Chief Acquisition Officer Lloyd Carney, who previously founded SPAC ChaSerg Technology Acquisition and served as CEO until its business combination with Grid Dynamics Holdings (GDYN; -11% from $10 offer price) in March of this year. Carney Technology Acquisition II plans to target technology companies

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Space start-up Momentus will go public with a SPAC



a group of clouds in the sky: A SpaceX Falcon 9 lifts off.


© Provided by Quartz
A SpaceX Falcon 9 lifts off.

To make getting into space as cheap as possible, rocket builders try to pack in as many satellites as possible. But what if they’e not all going to the same orbit? Just like you might need to ride a bike from the metro station to get to your final destination, satellites sometimes need a “last mile” solution too.

The next venture-backed space start-up that does just that is going public through a special acquisition company, or SPAC—a publicly traded company that raises money to buy a private firm, often one perceived as too risky to go public through a traditional IPO or a direct listing.

This time around, the target is Momentus Space. The purchaser is a fund raised by Stable Road Capital that trades on the NASDAQ as SRAC, and will become MNT in early 2021. It’s the same

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Faraday Future plans to go public through a SPAC deal

Faraday Future, the electric vehicle startup with a messy and complicated past, is planning to go public through a special-purchase acquisition company (SPAC) deal.

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The company’s chief executive Carsten Breitfeld told Reuters that the company is working on a reverse merger with a SPAC and “will be able to announce something hopefully quite soon.”

Breitfeld, formerly the co-founder of Chinese EV startup Byton, declined to give more information about who Faraday is talking to or when the deal will closed. A Faraday Future spokesperson contacted by TechCrunch also said the company had no further details to share at this time.

SPACs are blank-check companies that are formed to raise money through an initial public offering in order to merge or acquire other companies. As TechCrunch’s Connie Loizos wrote in an explainer, they’ve become more popular among tech companies recently because many had their initial public offering plans delayed

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EV startup Faraday Future in talks to go public through SPAC merger

By Ben Klayman

DETROIT (Reuters) – Electric vehicle startup Faraday Future aims to close a deal soon to go public through a reverse merger with a special-purchase acquisition company (SPAC), its chief executive said on Monday.

“We are working on such a deal … and will be able to announce something hopefully quite soon,” Carsten Breitfeld said of the possibility of a SPAC deal.

Breitfeld declined to say who Faraday is negotiating with or when a deal would close.

A SPAC is a shell company that raises money through an initial public offering to buy an operating entity, typically within two years.

SPACs have emerged as a quick route to the stock market for companies, particularly auto technology startups, and have proven popular with investors seeking to echo Tesla Inc’s <TSLA.O> high stock valuation.

Breitfeld, who joined the Los Angeles-based company as CEO last year, also said the company would

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