Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: United Airlines puts down $10 million deposit on flying taxis from Archer Aviation and Swvl announces $20 million private placement
United Airlines bets $10 million on flying taxis
The days of a Jetsons-like society zipping around in flying cars are still a long, long way away, but United Airlines is making a $10 million bet on flying cars. The carrier has put down a deposit for 200 four-passenger flying taxis from Archer Aviation, a San Francisco–based startup working on the aircraft/auto hybrid.
To be clear, the Federal Aviation Administration has not yet approved those vehicles to begin ferrying passengers, but the down payment is a sign of support from United that the technology is valid. American Airlines, last year, announced it would invest $25 million in a separate electric aircraft company, but that money has reportedly not yet been delivered, reports the Wall Street Journal.
Archer (NYSE:ACHR) completed its business combination with Atlas Crest Investment Corp. on September 14, 2021.
READSwvl Announces $20 Million Private Placement
Swvl Holdings Corp (NASDAQ: SWVL), a global provider of transformative tech-enabled mass transit solutions, today announced that it has entered into a definitive agreement with a single U.S. institutional investor for the purchase and sale of 12,121,214 of its ordinary shares together with series A warrants and series B warrants at a combined purchase price of $1.65 per ordinary share, pursuant to a private placement, resulting in total gross proceeds at closing of approximately $20 million before deducting placement agent commissions and other estimated offering expenses.
The series A warrants may purchase up to 12,121,214 of the Company’s ordinary shares and the series B warrants may purchase up to 6,060,607 of the Company’s ordinary shares.
Swvl completed its business combination with Queen’s Gambit on March 30, 2022.
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Terms Tracker for the Week Ending January 27, 2022 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re coming up on the end of January, the first month of the year, and to-date no new S-1s have been filed. Additionally, the number...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Circle spokesperson denies blaming SEC for failed deal, BuzzFeed CEO says AI-powered content will be part of core business, and FaZe Clan faces possible delisting Circle Spokesperson Denies Blaming SEC for Failed $9 Billion Deal...
Health Sciences 2 (NASDAQ:HSAQ) announced that it closed its combination with Orchestra BioMed on January 26. HSAQ ahead of its vote pre-announced redemption figures of 1,597,888 shares equating to 67.7% redemptions, however, that’s still subject to change. However, today it was noted that Orchestra BioMed is to receive $70 million in gross proceeds including $20...
Carbon capture technology has long been talked about, and it is finally in operation with LanzaTech among the pioneers. Its plants are turning potential emissions into clothing, household goods and sustainable fuels. SPAC cash is now also an accelerant in this new process as the company announced a $1.7 billion combination with AMCI II last March. This week, we caught up with...
In this series we’ll be examining successful SPAC deals from the past both in the terms and circumstances of their de-SPAC processes and how they have weathered the storms that have followed after their public listings with research from SPACInsider contributor Anthony Sozzi. Thirty months does not sound like that long, but it’s been a...