Hong Kong-based Hyphen Group, a comparison engine for personal financial services, is in talks to go public via Provident Acquisition at around a $1 billion valuation, Bloomberg reports. Hyphen has raised $110 million from firms including Experian, IFC, Gobi Ventures, Goldman Sachs, ACE & Co. and Route 66 Ventures. Read more.
The lawsuits accuse the SPACs of operating illegally by not registering as investment companies.
The divergence results from the varying methods SPAC creators use to share the lucrative incentives known as the “sponsor promote.”
With more than six months until the year ends, IPOs have already totaled $171 billion, eclipsing the 2020 record of $168 billion, according to data from Dealogic.