The Latest SPAC News and Rumors: July 19, 2023
by Marlena Haddad on 2023-07-19 at 11:33am

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

Latest SPAC News: VinFast to start construction of US factory next week, LanzaTech partners with GAIL, and X-energy and Energy Northwest sign joint development agreement for modular reactor project

Vietnam EV maker VinFast to start construction of US factory next week

GAIL, LanzaTech Enter Strategic Partnership to Explore Biorecycling Carbon Waste into Fuels and Chemicals

GAIL (India) Limited, India’s largest natural gas company and LanzaTech Global, Inc., (Nasdaq: LNZA)—an innovative carbon capture and utilization (“CCU”) company that converts waste carbon into products that people use in their daily lives—have entered a partnership to explore innovative technology solutions that advance GAIL’s Net Zero 2040 goals and have the potential to support wider decarbonization applications globally.


Energy Northwest and X-energy Sign Joint Development Agreement for Xe-100 Advanced Small Modular Reactor Project

Energy Northwest, a premier provider of carbon-free electricity, and X-Energy Reactor Company, LLC (“X-energy”), a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation, today announced the signing of a joint development agreement (“JDA”) for up to 12 Xe-100 advanced small modular reactors in central Washington capable of generating up to a total of 960 megawatts of carbon-free electricity. Energy Northwest expects to bring the first Xe-100 module online by 2030.

As previously announced on December 6, 2022, X-energy entered into a definitive business combination agreement with Ares Acquisition Corporation (NYSE: AAC).


Vertical Aerospace completes first flying taxi test flight

Flying electric taxi startup Vertical Aerospace (NYSE:EVTL) has completed its first remotely-operated test flight without being tethered in a key step towards a piloted test run.

The VX4, which takes off and lands vertically, was flown at about 70km per hour at Cotswold Airport. The Bristol-based company said it plans to conduct more flights in the “coming months”, and will continue work on its second prototype aircraft.

Vertical Aerospace listed on the NYSE in 2021 following a merger with special purpose acquisition company Broadstone.


GOP Rep. Meuser presses SEC over delayed Truth Social merger

Pennsylvania Republican Rep. Dan Meuser on Tuesday asked that Securities and Exchange Commission (SEC) Chairman Gary Gensler expeditiously consider a settlement involving Digital World Acquisition Corp. (DWAC) so as to advance its merger with the Trump Media & Technology Group ahead of a looming deadline to complete the deal.

“The SEC’s primary mission is to protect investors, maintain fair markets, and facilitate capital formation,” Meuser wrote. “Yet, the current inaction and delay surrounding the DWAC SPAC settlement and S-4 review contradicts these fundamental objectives.”

Digital World (NASDAQ:DWAC) is a SPAC that aims to merge with the firm operating Truth Social and thereby enable the platform’s appearance on the stock exchange.


Recent Posts
by Marlena Haddad on 2023-12-01 at 9:34am

Adit EdTech (NYSE: ADEX) announced this morning that its shareholders have approved its business combination with bitcoin self-mining company Griid Infrastructure at a special meeting held yesterday, November 30. A total of 8,520,710 shares of common stock, representing approximately 95.7% of the outstanding shares entitled to vote, were present at the meeting, constituting a quorum...

by Nicholas Alan Clayton on 2023-12-01 at 7:49am

At the SPAC of Dawn There had been hopes that this week would take one world conflict off the board, but combat has resumed in the Middle East as other eyes are likely to be fixed on new Fed comments today. The fighting in Gaza continues to not appear to have appreciable affects on the...

by Marlena Haddad on 2023-11-30 at 5:50pm

Chavant Capital Acquisition Corp. (NASDAQ:CLAY) announced in an 8-K filing this afternoon that it has amended its business combination agreement with Mobix Labs. The amendment involves specific alterations to the exchange ratio, now set at a one-to-one ratio to determine how many shares of Class A Common Stock and Class B Common Stock Mobix Labs’...

by Marlena Haddad on 2023-11-30 at 5:19pm

ShoulderUp Technology (NYSE:SUAC) announced this afternoon that it has signed a non-binding letter of intent (LOI) to combine with an undisclosed private IT company and has terminated its previous LOI with Airspace Experience Technologies. Terms of the new transaction have not yet been announced, but the parties expect to finalize a definitive agreement by the...

by Nicholas Alan Clayton on 2023-11-30 at 3:21pm

The pace of lock-up expirations is picking up in the final month of the year after a relatively quiet November. Seven de-SPACs and sponsors will be freed to run downstairs and see what the public markets have brought them, but not all are likely to find treats in their wooden clogs. The fastest kid into...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved