Tag Archive : SPAC

/ 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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SPACs, or special purpose acquisition companies, are all the rage right now, and people are emerging from all corners to raise them.

Among the latest entrants — and someone who might be of interest to Silicon Valley watchers — is Emil Michael, a former Uber executive and top lieutenant to former CEO Travis Kalanick. Earlier today, Micheal registered plans with the SEC to raise $250 million in an IPO for a blank-check company that will broadly acquire a company in the tech sector.

IPO Edge had reported earlier today that the SPAC might be in the works.

The filing lists as special advisors Alphabet’s former executive chairman Eric Schmidt, and Betsy Atkins, a founder of Ascend Communications and investor who has served on so many boards that last year she wrote a book about it. Indeed, among her other roles currently, she’s on the boards of Volvo, Wynn Resorts, and

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