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The Latest SPAC News and Rumors: August 17, 2023
by Marlena Haddad on 2023-08-17 at 11:35am

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

Latest SPAC News: Wheels Up secures $500M lifeline but still faces turnaround challenges, and DWAC rallies as sponsors push for more time

Wheels Up flies for now, but private-jet rivals see opportunity

Loss-making private jet firm Wheels Up Experience (NYSE:UP) nabbed a key $500 million lifeline but still faces turnaround challenges, as demand for private travel softens in the wake of the COVID-19 pandemic and rival operators lure some of their customers.

Wheels Up avoided a possible bankruptcy when it secured backing from investors on Tuesday, including U.S. carrier Delta Air Lines. Shares rose 11% on Wednesday in midday trading.

Wheels Up, which charters planes by the hour, went public in 2021 through a special purpose acquisition company with the goal of appealing to a broader flying base as an “Uber of the sky.”

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Trump-Tied SPAC’s Rally at Risk as Sponsors Need More Time

The blank-check company seeking to take Donald Trump’s media company public sweetened the proposed deal to keep the former president from walking away. Now it needs to make sure rank—and-file investors stick around, too.

Digital World Acquisition Corp. (NASDAQ:DWAC), the special-purpose acquisition company that’s been waiting to take over Trump Media & Technology Group for nearly two years, will ask investors on Thursday to push out the deadline for closing the deal by another 12 months. The blank check said in a filing Wednesday evening that the meeting will be held on Sept. 5 and not Aug. 17 as originally scheduled.

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The Latest SPAC News and Rumors: August 17, 2023
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Cohen Circle Acquisition Corp. II (NASDAQ:CCIIU) announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CCIIU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company in the financial services technology (fintech) sector and fintech adjacent sectors that...

Indigo Acquisition Corp. (INACU) Prices $100M IPO
by Nicholas Alan Clayton on 2025-06-30 at 4:57pm

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SPAC Lock-Up Expirations to Watch in July 2025
by Nicholas Alan Clayton on 2025-06-30 at 3:49pm

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New SPAC: Pyrophyte Acquisition Corp. II (PAII.U) Files for $175M IPO
by Nicholas Alan Clayton on 2025-06-30 at 1:15pm

Pyrophyte II (NYSE:PAII.U) has filed for a $175 million SPAC to dig for a natural resources target while the team’s first deal remains pending. The new SPAC is offering investors 1/2 warrants in each unit and it will have 24 months to complete a business combination without asking shareholders for an extension. It is the...

Morning SPAC News Roundup: June 30, 2025
by Nicholas Alan Clayton on 2025-06-30 at 8:28am

At the SPAC of Dawn The last day of the quarter is to play host to a pair of shareholder votes and a possible pricing of Indigo‘s (NASDAQ:INACU) $100 million IPO. This week is also to play host to fresh jobs numbers just before the long July 4 weekend. Black Hawk (NASDAQ:BKHA) was also one...

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