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

Latest SPAC News:  EQT Private Equity completes acquisition of Billtrust, Truth Social introduces direct messaging to platform, and Florida Office of Insurance Regulation approves East Resources business combination with Abacus Life

EQT Private Equity completes acquisition of Billtrust in $1.7B deal

Global investment firm EQT Private Equity has completed its acquisition of B2B payments company Billtrust (NASDAQ:BTRS). The transaction was announced on September 28 and was approved by shareholders on December 13, 2022.

The all-cash transaction values Billtrust’s equity at about $1.7 billion and comes a year after the company began trading on Nasdaq. Under the terms, Billtrust shareholders will receive $9.50 per share in cash. With the completion of the acquisition, Billtrust has ceased trading and will no longer be listed on Nasdaq.

Billtrust combined with South Mountain Merger Corp. in January 2021.

Direct Messaging Comes to Truth Social

Today, Trump Media & Technology Group (“TMTG”) announced that direct messaging (“DM”) is now available on the iOS, Android, and web versions of Truth Social. Users can now privately DM fellow users on a one-to-one basis with text-based messages containing up to 500 characters. Future updates will allow users to react to messages with emojis and exchange media attachments.

Florida Office of Insurance Regulation Approves East Resources Acquisition Company’s Business Combination with Abacus Life

Abacus Settlements, LLC and Longevity Market Assets, LLC, a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, announced today that the Florida Office of Insurance Regulation executed a consent order approving East Resources Acquisition Company’s (NASDAQ: ERES) business combination with Abacus.

American Acquisition Opportunity’s Merger Target, Royalty Management, Completes Investment into Heart Water Inc. and Partners on Royalty Financing Structure

American Acquisition Opportunity Inc.’s (Nasdaq:AMAO) merger target company, Royalty Management Corporation (RMC), a sustainably-driven, cash flow-oriented, royalty investment and development company, announced today that it has made an investment into Heart Water, Inc. and entered into an agreement whereby Royalty Management Corporation has the right to provide royalty based financing for the build out of Heart Water systems for a royalty-based payment structure per gallon of water sold from such facilities.