Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Polestar posts $304M loss amid delays, Starry emerges from bankruptcy with new growth goals, and Oklo selected to provide clean power to Air Force Base
Polestar Posts $304 Million Loss Amid Delays, Competition
Polestar Automotive Holding (NASDAQ:PSNY) posted another operating loss in the second quarter as the electric-vehicle maker struggled with software delays and intensifying competition.
While revenue surged in the UK and Sweden, it declined in key markets including the US and China during the three months through June, the EV maker said Thursday. Polestar, which is owned by Volvo Car AB and Chinese billionaire Li Shufu’s private investment company, posted a net loss of $304 million.
Polestar combined with special purpose acquisition company Gores Guggenheim Inc, raising $890 million in the process.
Internet Startup Starry Emerges From Bankruptcy With New Growth and Profit Goals
Oklo Selected to Provide Clean and Resilient Power to Eielson Air Force Base
The Defense Logistics Agency Energy on behalf of the United States Air Force has issued a Notice of Intent to Award a contract to Oklo Inc. to provide power and heat at the Eielson Air Force Base as part of the Air Force’s micro-reactor pilot program. This project represents a significant stride towards ensuring a clean and resilient energy supply for critical national security infrastructure.
On July 11, Oklo and AltC Acquisition Corp. (NYSE: ALCC) announced that they have entered into a definitive business combination agreement that upon closing would result in the combined company to be listed on the New York Stock Exchange under the ticker symbol “OKLO.”
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Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...