Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Southland awarded $102M from Louisiana Dept. of Transportation, REE lays off 11% of team
Southland Awarded $102 Million Louisiana Department of Transportation and Development Nelson Road Extension and Bridge Project
Southland Holdings, LLC announced today that a subsidiary in its Transportation segment, Johnson Bros., has been awarded a $102 million contract to construct the Nelson Road Extension and Bridge for the Louisiana Department of Transportation and Development in Lake Charles, Louisiana.
On May 25th, 2022, Southland entered into an Agreement and Plan of Merger with publicly-traded Legato Merger Corp. II, a special purpose acquisition company (NASDAQ: LGTO, LGTOU, and LGTOW).
READREE laying off 11% of team after losing 95% of market cap
Israeli auto-tech company REE Automotive notified its employees on Thursday that it will be laying off 31 team members, accounting for 11% of the workforce. REE is still not generating revenue and as of the end of September 2022 had $185 million left in its account after losing $100 million in the first nine months of the year.
Terms Tracker for the Week Ending March 31, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Filings continue to remain quiet, but SPACs did manage to price two more IPOs this week with TMT Acquisition Corp (Nasdaq: TMTCU) and Trailblazer Merger...
Hudson Acquisition I Corp. (NASDAQ:HUDA) announced that it has signed a non-binding letter of intent (LOI) to combine with a pre-clinical-stage biotechnology company. The SPAC did not provide many details on the unnamed target, but disclosed that the biotech company is focused on developing intranasal preventives for major disease-causing respiratory viruses. As a condition to the target...
Heading into April, SPACs are to see eight sponsors and 11 de-SPAC’d companies freed from lock-ups and ready to trade. Most of these lock-up expirations are loaded into the final week of the month, but those hitting this milestone already next week include some of the more interesting transactions of the crop. In particular, MoonLake...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Shares of Digital World jump after Trump’s indictment, and pair of Delaware Chancery court decisions deny motions to dismiss SPAC shareholder’s fiduciary breach claims Trump-Tied SPAC’s Shares Jump After Historic New York Charge The...
Ares Acquisition Corporation II (NYSE:AACT) filed its S-1 yesterday afternoon for a $400 million IPO, marking the second SPAC to file for an IPO in March and the largest since December 20, 2021, when Gores Holdings X Inc. filed for a $725 million SPAC. Ares II intends to focus its search on an established target...