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The Latest SPAC News and Rumors: March 14, 2023
by Marlena Haddad on 2023-03-14 at 11:33am

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.

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Freightos 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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by Marlena Haddad on 2023-03-27 at 5:44pm

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by Marlena Haddad on 2023-03-27 at 5:34pm

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by Marlena Haddad on 2023-03-27 at 11:49am

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...

by Nicholas Alan Clayton on 2023-03-27 at 11:23am

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...

by Nicholas Alan Clayton on 2023-03-27 at 7:27am

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...

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