The Latest SPAC News and Rumors: June 9, 2023
by Marlena Haddad on 2023-06-09 at 11:35am

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

Latest SPAC News: DWAC rises in wake of Trump’s indictment, Senator Kennedy introduces SPAC Act to protect investors, and Abacus Life appoints new managing director


DWAC rises in wake of Donald Trump’s indictment

Shares of Digital World Acquisition Corp. (NASDAQ:DWAC), the SPAC looking to take Donald Trump’s Trump Social public, rose 0.9% in premarket trading Friday, after the former president said he’s been indicted in the federal investigation into classified documents. Trump has been summoned to appear in federal court on June 13. After Trump was found liable for sexual abuse and defamation on May 9, the SPAC’s stock rose 3.6%, and climbed 7.5% over three days to close May 11 at $13.93, before pulling back.

A merger with Digital World Acquisition and Trump Media & Technology Group has been in the works since October 2021.

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Kennedy introduces SPAC Act to protect investors by increasing transparency surrounding blank-check firms

Sen. John Kennedy (R-La.) today introduced the Sponsor Promote and Compensation (SPAC) Act, which would provide greater transparency for investors involved with Special Purpose Acquisition Companies (SPACs).

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Abacus Life Appoints New Managing Director 

Abacus Settlements, LLC (d/b/a Abacus Life) and Longevity Market Assets, LLC, a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, today announced that Nicholas Sawuk has joined the Company as Managing Director.

Abacus Life has entered into a definitive merger agreement with East Resources Acquisition Corporation (NASDAQ: ERES) that will result in Abacus becoming a publicly listed company.

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Recent Posts
by Kristi Marvin on 2023-09-28 at 5:32pm

Latest SPAC Liquidations: Schultze Special Purpose Acquisition Corp. II Schultze Special Purpose Acquisition Corp. II (SAMA) to Liquidate on October 11, 2023 Schultze Special Purpose Acquisition Corp. II (Nasdaq: SAMA), announced that it will redeem all of the outstanding shares of its Class A common stock effective as of October 11, 2023. The Company expects...

by Kristi Marvin on 2023-09-28 at 4:40pm

Mercato Partners Acquisition Corporation (NASDAQ:MPRA) announced this afternoon via 8-K that its shareholders have approved its combination with Nuvini at a special meeting held earlier today. With 79.74% of the voting power of the Common Stock participating in the vote, the combination was overwhelmingly approved.  7,975,698 shares were recorded voting for the transaction, while only 38,008...

by Nicholas Alan Clayton on 2023-09-28 at 11:45am

Home Plate Acquisition Corporation (NASDAQ:HPLT) announced that it adjourned this morning’s extension vote without conducting any business and it will pick things up again at 11 am ET October 2. Shareholders at the meeting are to consider giving Home Plate an extra two and half months to complete a deal, moving its deadline from October...

by Nicholas Alan Clayton on 2023-09-28 at 11:29am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Law firm Schulte sues SPAC over fees from failed Philippine casino merger U.S. law firm Schulte Roth & Zabel is suing its former client 26 Capital Acquisition Corp to recover more than $1.9 million in legal fees...

by Nicholas Alan Clayton on 2023-09-28 at 10:56am

Fortune Rise Acquisition Corp. (NASDAQ:FRLA) announced this morning that it has changed the target of its letter of intent to combine, but only partially. The SPAC had an existing LOI to merge with its own sponsor, but since that sponsor is now a subsidiary of another company it has to combine with a different version...

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