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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Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...