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.
READKennedy 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).
READAbacus 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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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...