Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Execs leave Digital World as Trump Launches NFT collection, Faraday Future slides on capex plans
Three Execs Abruptly Depart SPAC As Lingering Investigations And Market Chaos Imperil Deal
Digital World Acquisition Corp., the special-purpose acquisition company picked to take former President Donald Trump’s social media company public, unveiled a series of high-level departures on Friday since the end of last month—deepening potential worries for the firm as it struggles to finalize a deal amid regulatory investigations and broader market chaos.
In a regulatory filing released Friday morning, Digital World announced board member Rodrigo Veloso and chief financial officer Lee Jacobson sent letters of resignation to the company on December 9, while board member Luiz Philippe Braganza informed the firm of his departure on November 28.
READFaraday Future slides after signaling need for funds to start production
Shares of Faraday Future Intelligent Electric (NASDAQ:FFIE), which combined with Property Solutions in July 2021, tumbled 21% on Friday after the company unveiled production plans for its much-delayed luxury electric car that hinged on securing additional financing.
The company is in talks with new and existing investors to raise the $150 million to $170 million in capital needed to start production in March and deliveries a month later of the FF 91 Futurist, Faraday disclosed on Thursday.
READDonald Trump’s launch of $99 NFTs sparks 10% decline in Digital World SPAC linked to Truth Social
Former President Donald Trump’s launch of $99 digital NFTs failed to gin up excitement among investors in the Digital World Acquisition SPAC (NASDAQ:DWAC) that is seeking to merge with Trump’s Truth Social.
Shares of Digital World Acquisition initially spiked as much as 10% on Wednesday after Trump teased a “major announcement.” The stock has had a knack for rallying ahead of anticipated Trump rallies and other developments related to his 2024 re-election bid.
But Digital World stock gave up all of those gains on Thursday after the “major announcement” turned out to be the launch of the ‘Donald Trump Digital Trading Card Collection’ at a time when the crypto and NFT market has been decimated.
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McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....