Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Investor sues over $16B United Wholesale Mortgage deal, and Freightos widens loss after listing on Nasdaq
SPAC Investor Sues Over ‘Abysmal’ $16B Mortgage Biz Merger
A special purpose acquisition company’s investor says in Delaware Chancery Court that the SPAC’s managers misled shareholders about a $16 billion merger with United Wholesale Mortgage (NYSE:UWMC) so that they could reap a return from what turned out to be an ‘abysmal’ deal.
READFreightos widens loss after listing on Nasdaq stock exchange
Freightos (NASDAQ: CRGO) has widened its fiscal-year loss after merging with SPAC Gesher I Acquisition Corp. in late January to become listed on the Nasdaq.
The Hong Kong-based container booking and payments platform posted $24.5 million in net loss for 2022, down from $16.4 million for 2021. Freightos attributed the greater loss to costs incurred while going public.
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Latest Non-Redemption Agreements: two two (TWOA) Adds Non-Redemption Agreement In connection with the previously announced shareholder meeting of two (NYSE:TWOA) to extend the company’s completion deadline from April 1, 2023 to January 1, 2024, the company and two sponsor, have entered into non-redemption agreements with several unaffiliated third parties. The third parties have agreed not to...
Latest SPAC Liquidations: Khosla Ventures Acquisition Co. III Khosla Ventures Acquisition Co. III (KVSC) to Liquidate Khosla Ventures Acquisition Co. III (NASDAQ:KVSC) did not consummate, or execute a letter of intent before March 26, and therefore shall cease all operations except for the purpose of winding up. It intends to liquidate and redeem all of its...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Faze Clan considers going private, Richard Branson sits out Virgin Orbit’s flameout, and Tempo Automation to acquire Optimum Design Associates Faze Clan considers going private amid financial concerns Esports giant Faze Clan (NASDAQ:FAZE) is...
Aquaron Acquisition Corp. (NASDAQ:AQU) has entered into a definitive agreement to combine with hydrogen energy company Bestpath at an initial equity value of $1.2 billion. Shanghai-based Bestpath has developed technology for hydrogen fuel cell-powered heavy trucks and the refilling stations that would supply them. The combined company is expected to trade on the Nasdaq once...
Manufacturing technology company Berkshire Grey (NASDAQ:BGRY), which closed a combination with Revolution Acceleration in July 2021, announced over the weekend that it is being acquired by SoftBank in a take-private transaction priced at $1.40 per share. The price marks a 24% premium over Berkshire Grey’s closing price on March 24 and a 7.6% boost over...