Hong Kong, June 03, 2021 (GLOBE NEWSWIRE) -- Bridgetown Holdings Ltd. (NASDAQ: BTWNU) (the “Company”) today announced that it has received a notice (“Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) as a result of its failure to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 (the "Form 10-Q") in a timely fashion. The Notice advised the Company that it was not in compliance with Nasdaq’s continued listing requirements under the
For those that have 2021 FOMO (or, the fear of missing out), I think there is a SPAC that is a brilliant investment, and is trading for its original price when it should trade for a premium. Billionaire investor Peter Thiel is one of the most successful venture capitalists ever. Given his past successes, it is pretty incredible that his SPAC is trading right around its original valuation.
Indonesian travel unicorn Traveloka is in advanced talks for public listing via special purpose acquisition company (SPAC) merger with billionaires Richard Li and Peter Thiel sponsored Bridgetown Holdings Ltd (NASDAQ: BTWN) in a deal worth $5 billion, Bloomberg reports. The fundraise could range between $500 million and $750 million via a private investment in public equity (PIPE). Bridgetown shares rose close to 6% in premarket trading, extending their 13% gain on Thursday. SoftBank Group Corp (OTC: SFTBF) (OTC: SFTBY)-sponsored Singapore’s ride-hailing and financial services start-up Grab is ready for a U.S. listing via Altimeter Capital’s SPAC Altimeter Growth Corp (NASDAQ: AGC), with a $40 billion valuation. Traveloka was valued at around $2.75 billion in 2020. Bridgetown had raised roughly $595 million in October initial public offering (IPO) backed by Thiel’s Los Angeles-based personal investment vehicle Thiel Capital and Li’s Hong Kong-based investment company Pacific Century Group. Representatives for Bridgetown and Traveloka declined to comment to Bloomberg. Traveloka has expanded its base across six Southeast Asian nations, including Australia, enabling consumer flight and hotel reservations across countries. Traveloka gradually diversified its offerings into finance apart from travel, lifestyle, and accommodation booking portfolio. Traveloka’s sponsors include Expedia Group Inc (NASDAQ: EXPE), Rocket Internet SE (OTC: RCKZF), East Ventures, Li’s FWD Group Ltd., and Singapore’s GIC Pte. Price action: BTWN shares traded higher by 3.06% at $12.48 in the premarket session on the last check Friday. See more from BenzingaClick here for options trades from BenzingaWhy Is BTWN Stock Trading Higher Today?© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.