Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Verde Clean Fuels announces agreement for renewable gasoline plant, Universal Entertainment accused of improper influence in Manila casino fight, and Integral 1 on the prowl again as $185M buyout falls over
Verde Clean Fuels Announces Carbon Capture Agreement for Renewable Gasoline Plant in California
Verde Clean Fuels (Nasdaq: VGAS), a company focused on becoming the leading supplier of gasoline and other fuels derived from renewable feedstocks or natural gas, today announced a Carbon Dioxide Management Agreement (CDMA) between Verde and Carbon TerraVault JV HoldCo, LLC (“CTV JV”), a carbon management partnership focused on carbon capture and sequestration development formed between Carbon TerraVault, a subsidiary of California Resources Corporation (“CRC”) (NYSE: CRC), and Brookfield Renewable (NYSE: BEP).
Verde Clean Fuels, previously known as Bluescape, closed its combination with CENAQ Energy in February.
Japan’s Universal Entertainment Accused of Improper Influence in Manila Casino Fight
Officials of a Japanese entertainment company in a merger fight over a Manila casino resort sought to improperly influence a prominent Filipino legislator to regain control of the property, a special purpose acquisition company suing Universal Entertainment Corp. alleged.
In a filing Monday in Delaware Chancery Court, the SPAC, 26 Capital Acquisition Corp. (NASDAQ:ADER), claimed that Universal executives brought “heavy luggage” to a meeting with Philippine House of Representatives Speaker Martin Romualdez to try to secure his support in the dispute. They have been trying to take back control of the 100-acre (40-hectare) Okada Manila resort and casino, valued at $2.6 billion.
Melbourne SPAC on the prowl again as $185m buyout deal falls over
Financial Review can report that Aaron Hornlimann’s deal to sell his startup Elenium Automation to a Nasdaq-listed SPAC for an eye-watering $185 million valuation has fallen through.
But, Integral Acquisition Corporation 1 (NASDAQ:INTE), has been reaching out to other Australian startups in the recent weeks as its talks with Elenium die out and the clock ticks on finding an acquisition target.
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Latest SPAC Liquidations: Schultze Special Purpose Acquisition Corp. II Schultze Special Purpose Acquisition Corp. II (SAMA) to Liquidate on October 11, 2023 Schultze Special Purpose Acquisition Corp. II (Nasdaq: SAMA), announced that it will redeem all of the outstanding shares of its Class A common stock effective as of October 11, 2023. The Company expects...
Mercato Partners Acquisition Corporation (NASDAQ:MPRA) announced this afternoon via 8-K that its shareholders have approved its combination with Nuvini at a special meeting held earlier today. With 79.74% of the voting power of the Common Stock participating in the vote, the combination was overwhelmingly approved. 7,975,698 shares were recorded voting for the transaction, while only 38,008...
Home Plate Acquisition Corporation (NASDAQ:HPLT) announced that it adjourned this morning’s extension vote without conducting any business and it will pick things up again at 11 am ET October 2. Shareholders at the meeting are to consider giving Home Plate an extra two and half months to complete a deal, moving its deadline from October...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Law firm Schulte sues SPAC over fees from failed Philippine casino merger U.S. law firm Schulte Roth & Zabel is suing its former client 26 Capital Acquisition Corp to recover more than $1.9 million in legal fees...
Fortune Rise Acquisition Corp. (NASDAQ:FRLA) announced this morning that it has changed the target of its letter of intent to combine, but only partially. The SPAC had an existing LOI to merge with its own sponsor, but since that sponsor is now a subsidiary of another company it has to combine with a different version...