Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Trump SPAC investors charged in $22M scheme, Lordstown says it has had confidential settlement talks with SEC, and Virgin Galactic enters space tourism era with commercial debut
Trump SPAC Investors Charged in $22 Million Scheme
Three investors in the special purpose acquisition company that has agreed to take Trump Media & Technology Group Corp. public were indicted on charges they used inside information about the deal to make $22 million in illegal trades.
Digital World Acquisition Corp. (NASDAQ:DWAC) is a SPAC that has signed a deal to merge with Trump Media, which runs Donald Trump’s “Truth Social” network, and take it public.
Michael Shvartsman, the CEO of Rocket One Capital LLC. and his brother Gerald Shvartsman, were named in a federal indictment unsealed Thursday in Manhattan federal court. Bruce Garelick, chief investment officer of Rocket and a member of the DWAC board, was also named.
READBankrupt Lordstown Says It’s Held Confidential Settlement Talks With SEC
Bankrupt Lordstown Motors Corp. (NASDAQ:RIDE) has had confidential settlement talks with the US Securities and Exchange Commission, which has previously inquired about whether the electric vehicle startup misled investors in relation to its merger with a blank-check company when it went public in 2020.
Lordstown lawyer Thomas Lauria said during the company’s debut bankruptcy hearing in Delaware Wednesday that the SEC’s investigation could result in civil claims but it’s not yet known whether discussions will result in a settlement or future litigation.
READVirgin Galactic Enters Space Tourism Era With Commercial Debut
Fifteen years later than planned, Richard Branson’s vision for space tourism is poised to become a reality.
Virgin Galactic Holdings Inc. (NYSE:SPCE) will begin commercial operations Thursday when it sends six people to the edge of space and back. It’ll offer paying passengers several minutes of weightlessness during the 90-minute research mission from New Mexico.
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At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...