Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Terran Orbital receives milestone payment for Rivada constellation and ex-CFO of African Gold Acquisition Corp. gets 3 years in scheme to trade meme stocks, crypto
Terran Orbital Receives Milestone Payment for Rivada Constellation
Terran Orbital (NYS: LLAP) announced on Thursday that it received a milestone payment for the $2.4 billion, 300-satellite constellation it is building for Rivada Space Networks. Terran Orbital, which is a wholly-owned subsidiary of Tyvak Nano-Satellite Systems, also announced completion of the screening of industrial partners and trade studies that will support the acquisition process and system engineering.
READEx-SPAC CFO Gets 3 Years in Scheme to Trade Meme Stocks, Crypto
The former chief financial officer for a group of special purpose acquisition companies was sentenced to three years in prison for a scheme to embezzle more than $5 million to trade in crypto assets and meme stocks.
Cooper Morgenthau, 36, of African Gold Acquisition Corp., admitted stealing the money from the SPACs for more than a year beginning in June 2021. He was sentenced in a hearing on Thursday, Manhattan US Attorney Damian Williams said in a statement.
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Trajectory Alpha Acquisition Corp. (NYSE:TCOA) announced this afternoon that it has entered into a purchase and contribution agreement with its sponsor and J. Streicher Holdings, LLC. As a result, the SPAC will undergo a change in management. As part of the agreement, J. Streicher will pay $250,000 to Trajectory Alpha and $1.00 to the sponsor. In return,...
Latest SPAC Liquidations: Sound Point I, Bullpen Parlay, and Zimmer Energy Transition Sound Point Acquisition Corp I (SPCM) to Liquidate on June 4 Sound Point Acquisition Corp I, Ltd (NASDAQ: SPCM) announced today that it intends to liquidate and dissolve, effective as of June 4, 2023, and will redeem all of the outstanding Class A...
Latest Non-Redemption Agreements: GSR II Meteora Acquisition Corp. GSR II Meteora Acquisition Corporation (GSRM) Adds Non-Redemption Agreement On May 31, 2023, GSR II Meteora Acquisition Corp., (NASDAQ:GSRM), entered into certain non-redemption agreements with certain third parties in connection with the special meeting of stockholders. Pursuant to such Non-Redemption Agreements, each Non-Redeeming Stockholder agreed that it will...
Athena Technology Acquisition Corp. II (NYSE:ATEK) announced this afternoon that it is postponing its extension vote scheduled for June 12 until June 13. Shareholders at the special meeting are to vote on a proposal to allow Athena Technology II to extend its transaction deadline on a monthly basis up to nine times from June 14,...
Clover Leaf Capital Corp. (NASDAQ: CLOE) has entered into a definitive agreement to combine with Digital Ally, Inc.’s (NASDAQ: DGLY) ticketing platform Kustom Entertainment at a pro forma equity value of approximately $222.2 million. Kansas City, Kansas-based Kustom Entertainment is a primary and secondary ticket platform that manages wholly-owned subsidiaries TicketSmarter and Kustom 440. Transaction Overview Clover...