The Latest SPAC News and Rumors: August 16, 2023
by Marlena Haddad on 2023-08-16 at 11:36am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Marcum LLP cites SEC charges as reason it stepped down as auditor of DWAC and Avertix Medical partners with Heart & Rhythm Institute of Trinity


Trump-Linked SPAC Auditor Cites SEC Charges as Trigger to Quit

Audit firm Marcum LLP said Tuesday it decided to step down as auditor of the blank-check company trying to take Donald Trump’s media company public after its client settled US regulator fraud charges in July.

The decision was “primarily in response to concerns regarding the Company’s management and governance structure following its July 20, 2023 settled order with the Commission,” the audit firm said in a letter it sent to the Securities and Exchange Commission on Aug. 15.

Special purpose acquisition company Digital World Acquisition Corp. (NASDAQ:DWAC) in July settled SEC charges that it misled the public by failing to disclose that it had formulated a plan to acquire Trump’s company prior to the SPAC’s initial public offering. DWAC will have to pay an $18 million penalty if the deal closes, the SEC said.

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Heart & Rhythm Institute of Trinity and Avertix Announce Partnership to Improve Cardiac Care and Patient Monitoring

Avertix Medical, a company focused on improving long-term management and outcomes of high-risk coronary disease in patients who have survived one or more heart attacks, and the Heart & Rhythm Institute of Trinity, an ambulatory surgery center created by ten of the top cardiologists in the Tampa Bay area, announced today they have entered into an agreement to make the Guardian™ System, the first and only FDA-approved implantable heart attack detection and warning system, available to the Heart & Rhythm Institute of Trinity and its collaborative group of cardiologists who work across seven cardiology practices and serve seven hospitals in the area. This partnership seeks to enhance the Heart & Rhythm Institute’s commitment to redefining the future of cardiac care with cutting-edge technology.

On May 3, 2023, Avertix Medical, Inc. and BIOS Acquisition Corporation (Nasdaq: BIOS) announced that they entered into a definitive agreement for a business combination. Upon completion of the Transaction, the combined company’s common stock is expected to be listed on Nasdaq under the ticker symbol “AVRT.”

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Recent Posts
by Kristi Marvin on 2023-09-28 at 5:32pm

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...

by Kristi Marvin on 2023-09-28 at 4:40pm

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...

by Nicholas Alan Clayton on 2023-09-28 at 11:45am

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...

by Nicholas Alan Clayton on 2023-09-28 at 11:29am

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...

by Nicholas Alan Clayton on 2023-09-28 at 10:56am

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...

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