Latest SPAC News
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2022-11-28 at 12:02am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News:  Virgin Galactic appoints new top lawyer, Trump Media SPAC rises after investors approve merger deadline extension, and Al Maadeed to be first Qatari to list company on NYSE Virgin Galactic, Preparing for Liftoff,...

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2022-11-25 at 2:31pm

PMV Consumer (OTC PINK:PMVC) announced that it is redeeming all non-insider public shares for approximately $10.09 per share, but it will not be dissolving just yet. The SPAC is set to provide written redemption notices to each shareholder and trust proceeds are to be distributed within 30 days of these notices. PMV Consumer will then...

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2022-11-25 at 11:02am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Ex-Marvel chief takes the wheel at Arrival, Paysafe plans reverse stock split, and Dave Inc. to pursue a bank charter Founder of troubled electric van maker Arrival steps aside as CEO The founder...

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2022-11-25 at 7:31am

Digital World (NASDAQ:DWAC) announced late Wednesday that its shareholders have approved amending its charter to allow for automatic three-month extensions of its transaction deadline until September 8, 2023. This brings to close a long drama during which Digital World adjourned the vote without concluding business six times at different meetings in September, October and November....

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2022-11-23 at 4:49pm

Venus Acquisition Corp. (NASDAQ:VENA) announced this afternoon that it has secured an investor for a backstop agreement in connection to its business combination with VIYI Algorithm. Venus and its sponsor, Yolanda Management Corporation, entered into a backstop agreement with Joyous JD Limited to purchase VENA shares from third parties through a broker in the open market, or...

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2022-11-23 at 3:50pm

SPACs and the use of projections have gotten a fair amount of attention this year from both the media and the SEC. And the pending SEC SPAC Rule could have an additional effect on how bankers and SPAC teams handle projections in the future. However, Jim Zukin, of Zukin Certification Services (“ZCS”), and Christian Nagler,...

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2022-11-23 at 11:37am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Cilo Cybin flops after failing to lure South Africa investors, DWAC wins shareholder support for one year extension, and Watersight adds global companies to AquaRing pilot program Cannabis SPAC Flops After Failing to...

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2022-11-23 at 8:51am

ACE Convergence (NASDAQ:ACEV) announced this morning that its shareholders have approved its business combination with electronics manufacturer Tempo during a special meeting held on November 17. The SPAC did not disclose redemption amounts, but shares of ACEV traded above its trust value of $10 throughout its redemption deadline November 15. ACEV’s share price has since come...

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2022-11-23 at 8:41am

Metals Acquisition Corp. (NYSE:MTAL) announced that it has made a series of amendments to its combination the Glencore’s (LON:GLEN) CSA Copper Mine, shifting some portions of the compensation to contingencies based on commodity prices. The mine is now to be acquired with at least $775 million in cash, which may be expanded to $875 million...

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2022-11-23 at 7:12am

OceanTech I (NASDAQ:OTEC) has postponed an extension vote scheduled for later today after receiving high redemption notices. Shareholders requested to redeem a total of 9,449,599 shares, representing 91.5% of its shares outstanding. This exceeds the 8,880,360-share maximum threshold to effect an extension according to its proxy. As such, the company has postponed the vote to...

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2022-11-22 at 5:45pm

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC Liquidations: Orion, Austerlitz I, Austerlitz II, Fortress Value II, and Fortress Value IV Orion Acquisition Corp. to Liquidate Trust Orion (NASDAQ:OHPA) disclosed in an 8-K this afternoon that shareholders have approved an amendment to move...

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2022-11-22 at 1:52pm

Western Acquisition Ventures Corp. (NASDAQ:WAVS) has entered into a definitive agreement to combine with cybersecurity firm Cycurion at an enterprise value of $170.4 million. The McLean, Virginia-based company provides cybersecurity services primarily to US government clients. The combined company is expected to trade on the Nasdaq once the deal is completed in the first quarter...

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2022-11-22 at 1:44pm

Hainan Manaslu Acquisition Corp. (NASDAQ:HMAC) has entered into a definitive agreement to combine with brand management company Able View at an estimated enterprise value on a pro-forma basis of approximately $400 million. Shanghai-based Able View is a cross-border brand management company focusing on beauty and personal care segments. The combined company is expected to trade on the Nasdaq...

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2022-11-22 at 12:13am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: GloriFi to shut down, BM Technologies’ acquisition of Seattle community bank pushed to 2023, and Core Scientific loses $1.7 billion Texas-based fintech firm GloriFi to shut down Texas-based fintech firm GloriFi is shutting...

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2022-11-22 at 11:43am

CIIG Capital Partners II (NASDAQ:CIIG) has entered into a definitive agreement to combine with Zapp Electric Vehicles Limited at a fully-diluted post-transaction enterprise value of $573 million. London-based Zapp aims to redefine the electric two-wheeler segment through its i300 bike. The combined company is expected to trade under the symbol “ZAPP” on the Nasdaq once the deal is...

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2022-11-22 at 10:12am

Forest Road II (NYSE:FRXB) has entered into a definitive agreement to combine with transportation technology developer HyperloopTT at an enterprise value of $397 million. Los Angeles-based HyperloopTT is developing systems for fast travel between sites and cities with projects being explored on four continents. The combined company is expected to trade under the symbol “HYPE”...

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2022-11-22 at 8:15am

DHC Acquisition Corp (NASDAQ:DHCA) announced this morning that the leadership of its target company GloriFi have begun the process of winding down its operations. The filing did not specify whether DHC was terminating its combination agreement, but this will presumably be void once the company no longer exists. The two sides announced their $1.7 billion...

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2022-11-22 at 7:12am

Highland Transcend I (NASDAQ:HTPA) announced this morning that it will redeem all public shares effective December 8 as it will not complete a business combination. Shareholders are expected to receive a redemption rate of $10.06 per share and Highland Transcend I is to cease all operations other than its winding down efforts on December 7....

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2022-11-21 at 5:37pm

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC Liquidations: GigInternational 1 and HumanCo GigInternational1 Announces Expiration of Exclusivity of Term Sheet for a Business Combination with Convalt Energy, Inc. and Liquidation and Redemption of Public Shares GigInternational1, Inc. (Nasdaq: GIW) announced this...

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2022-11-21 at 5:17pm

ACE Convergence (NASDAQ:ACEV) announced this afternoon that it has secured a committed equity facility of up to $100 million with White Lion Capital. Under the terms of the facility, White Lion Capital has committed to purchase up to an aggregate of $100 million in the post-closing combined company’s common shares from time to time after the...