Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Trump’s Truth Social asks Congress to probe SEC delays, Next.e.Go Mobile announces signing of MOU with Trafigura, and Euronext CEO confident IPO conditions are poised to improve
Trump’s Truth Social asks Congress to probe SEC delays, conflicts of interest during merger review
The parent company for former President Donald Trump’s Truth Social platform is asking Congress to investigate the SEC, alleging regulators there have engaged in “egregious conduct and blatant politicization” to delay the social media platform’s potential merger with an acquisition firm.
The SEC has been reviewing the so-called S4 plan submitted in fall 2021 by Digital World Acquisition Corp. (NASDAQ:DWAC) to merge with Trump Media & Technology Group, which owns the Truth Social platform that now boasts millions of users and has become a potent alternative for conservatives to traditional social media platforms like Twitter and Facebook.
READNext.e.GO Mobile SE Announces Signing of Memorandum of Understanding with Trafigura to Solidify Long-Term Supply of Aluminium and Battery Metals
Next.e.GO Mobile SE, an innovative producer of urban electric vehicles, today announced that it has entered into a memorandum of understanding (MOU) with Trafigura Pte. Ltd., a leading international commodity company, to establish a long-term supply chain management service agreement focused on the supply of aluminium and battery metals such as lithium, cobalt, and copper.
As announced on July 28, 2022, e.GO has entered into a definitive agreement for a business combination with Athena Consumer Acquisition Corp. (NYSE: ACAQ) that would result in e.GO becoming a publicly listed company.
READEuronext CEO Confident IPO Conditions Are Poised to Improve
Euronext NV, Europe’s largest stock-exchange group, says the pipeline for initial public offerings remains strong even amid a current drought, but companies are having difficulty picking the right time to list because of market volatility.
There’s a vibrant set of businesses, particularly in the technology sector, that are ready to go public, Euronext Chief Executive Officer Stephane Boujnah said in a video interview from Paris Monday.
Boujnah expects the wave of blank-check companies, or SPACs, that grew when there was abundant liquidity, to be over. “The reality is that most of those SPACs had two years to invest,” he said. “It turns out that some of them are starting to return money to shareholders.”
READTikTok Direct Sales Tank for Brands From Beachbody to Juice Plus
The pandemic gave the industry an unexpected reprieve — people stuck at home hawked vitamins and essential oils via TikTok and Facebook, and for a while the business boomed. But now, with that boom quickly becoming a distant memory, some of the biggest names in the industry are falling into financial trouble.
Beachbody (NYSE:BODY), backed by the likes of former NBA star Shaquille O’Neal and civil rights activist Martin Luther King III is seeing less demand for its online fitness programs and nutritional products as Americans get back to the gym. It’s also a victim of the SPAC crash: its shares have tumbled nearly 95% since it merged with a blank-check company in 2021.
Forest Road Acquisition Corp. completed its combination with Beachbody in June 2021.
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FIGX Acquisition Corp. (NASDAQ:FIGXU) announced the pricing of its $131 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “FIGXU”, Friday, June 27, 2025. The new SPAC aims to seek out a financial services target with a particular focus on wealth and asset managers with the potential to...
Yorkville Acquisition Corp. (NASDAQ:YORKU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “YORKU”, Friday, June 27, 2025. The new SPAC plans to combine with a target company in the telecom, media or technology sectors. Yorkville Acquisition Corp.’s management team is led...
At the SPAC of Dawn As pressure on Fed Chairman Jerome Powell increases, the market is set to ingest a raft of new indicators today as well as hear from Cleveland Fed President Beth Hammack on the potential interest rate path. Today will also see June’s 8th SPAC IPO as Cantor Equity Partners III Inc....
Cantor Equity Partners III Inc. (NASDAQ:CAEP) announced the pricing of its upsized $240 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CAEP”, Thursday, June 26, 2025. The new SPAC plans to combine with a target company in an industry where its management has relevant expertise such financial...
Launch One (NASDAQ:LPAA) has entered into a definitive agreement to combine with biotech firm Minovia Therapeutics at a $180 million pre-money valuation. Haifa, Israel-based Minovia is developing a drug platform based on mitochondrial cell therapies to potentially treat rare disorders as well as the effects of aging and other causes of bodily degeneration. The combined...