Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Nikola announces collaboration with Plug Power, Lanvin Group scouts for buys and opens stores, and Lucid recruits for staff in China
Nikola and Plug Announce Strategic Collaboration to Push Hydrogen Economy Forward
Nikola Corp. (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, and Plug Power (Nasdaq: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, today announced a strategic relationship focused on moving the hydrogen economy forward.READ
Lanvin Group to open stores, hunt buys after U.S. SPAC listing
Chinese luxury fashion conglomerate Lanvin Group (NYSE:LANV), owner of the eponymous French fashion brand, said it is scouting for buys and will open new stores, after a New York SPAC listing on Thursday that raised $150 million and valued it at $1.31 billion.
The amount raised is far lower than the $544 million that the group, owned by China’s Fosun International, said in March it hoped to raise from the listing via a special purpose acquisition company set up by Primavera Capital.READ
US Electric Carmaker Lucid Motors Is Hiring in China
Lucid Motors (NASDAQ:LCID) is recruiting staff in China, after the US electric vehicle maker kicked off a plan to enter the Chinese market as early as next year.
Lucid Motors recently posted job adverts on a Chinese social media platform for positions including software and localization engineers, public policy and legal counsels, and others in the digitalization, logistics, supply, and residential charging product fields. The New Jersey-based firm hired a human resources head for China in May.READ
Arqit Quantum Ditches Plan for Quantum Satellites
Arqit Quantum (NASDAQ:ARQQ) is canceling its plans to build quantum satellites, announcing Wednesday its software technology has progressed and it no longer needed its own in-space assets.
Arqit, based in the United Kingdom, is a company that focuses on quantum encryption. Its software QuantumCloud creates encryption keys for zero trust security. The company went public in September through a special purpose acquisition company merger.
The company had plans to launch a network of satellites to create and transmit the quantum keys, but did not announce its manufacturer.READ
Hudson Acquisition I Corp. (NASDAQ:HUDA) announced that it has signed a non-binding letter of intent (LOI) to combine with a pre-clinical-stage biotechnology company. The SPAC did not provide many details on the unnamed target, but disclosed that the biotech company is focused on developing intranasal preventives for major disease-causing respiratory viruses. As a condition to the target...
Heading into April, SPACs are to see eight sponsors and 11 de-SPAC’d companies freed from lock-ups and ready to trade. Most of these lock-up expirations are loaded into the final week of the month, but those hitting this milestone already next week include some of the more interesting transactions of the crop. In particular, MoonLake...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Shares of Digital World jump after Trump’s indictment, and pair of Delaware Chancery court decisions deny motions to dismiss SPAC shareholder’s fiduciary breach claims Trump-Tied SPAC’s Shares Jump After Historic New York Charge The...
Ares Acquisition Corporation II (NYSE:AACT) filed its S-1 yesterday afternoon for a $400 million IPO, marking the second SPAC to file for an IPO in March and the largest since December 20, 2021, when Gores Holdings X Inc. filed for a $725 million SPAC. Ares II intends to focus its search on an established target...
Latest SPAC Liquidations: TCV Acquisition Corp. TCV Acquisition Corp. (TCVA) to Liquidate on April 13 TCV Acquisition Corp. (Nasdaq: TCVA) announced that it intends to dissolve and liquidate. It will redeem all of the outstanding Class A ordinary shares that were included in its initial public offering at a per-share redemption price of approximately $10.24. As...