Morning SPAC News Roundup: January 30, 2024

At the SPAC of Dawn

This week, SPACInsider is starting a weekly poll to get a pulse on the SPAC market.

The Fed begins a two-day meeting today on monetary policy and its press conference coming out of that at 2 pm ET will be watched closely for signs of when to expect rate cuts and how large they will be. Those details could have a big impact on the volume of SPAC IPOs completed this year, but we decided to put it to our readers to make a prediction on what that might be.

Let’s Settle This: “How many SPAC IPOs do you predict in 2024? Less than 25? 25-50? 50+?”

CLICK HERE to register your response.

News and Rumors

• Bloomberg Law: Volta executives claimed a legal victory this week as a federal judge mostly dismissed claims that it intentionally misled investors through its de-SPACing process with Tortoise II in 2021. Volta was later acquired by Shell (NYSE:SHEL) in January 2023.
• Reuters: Arrival (NASDAQ:ARVL), which combined with CIIG Merger Corp, disclosed that the Nasdaq will halt the trading of Arrival shares on January 30, followed by a formal delisting.
• The Northern Miner: Shares in Lifezone Metals (NYSE:LZM) rose in the early hours of Monday’s trading session on news about a high-grade nickel discovery at its Kabanga project in northwest Tanzania. Lifezone Metals completed its combination with GoGreen Investments in June 2023.

Scheduling Notes

• Nocturne Acquisition Corp. (NASDAQ:MBTCU) will postpone its January 30 special meeting to approve its combination with Cognos Therapeutics to 10 am ET, February 6. The deadline for redemption decisions will now be February 2.