Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lottery.com sued by investor, True Velocity partners with Bass Pro Shops, Cabela’s, and HomeToGo founder teases Modes launch in 2023
Lottery.com Sued by Investor Eyeing Challenge to Its SPAC Merger
An investor sued Lottery.com Inc. (NASDAQ:LTRY) over concerns that backers of its blank-check merger with a special purpose acquisition company deliberately pushed a disastrous deal because it gave them a windfall at the expense of public shareholders.
The lawsuit seeks internal files from Lottery.com to investigate claims that sponsors of the SPAC it merged with, Trident Acquisition Corp., kept investors in the dark about “foundational” flaws in the lotto company’s business model. The company’s stock has allegedly crashed 95% since the deal closed.
True Velocity Announces Strategic Partnership with Bass Pro Shops, Cabela’s
Texas-based ammunition manufacturer True Velocity announced a multi-year, strategic partnership with industry-leading outdoor retailer Bass Pro Shops. The partnership will bring True Velocity’s line of advanced composite-cased ammunition to more than 125 Bass Pro Shops Outdoor World and Cabela’s retail locations across the United States, and it will leverage co-branded marketing efforts to promote an online subscription service enabling customers to order ammunition directly to their doorstep at a discount off retail prices.
As previously announced on November 1, 2022, TV Ammo, Inc. (“True Velocity”) entered into a business combination agreement among Breeze Holdings Acquisition Corp. (NASDAQ: BREZ).
READHomeToGo founder Andrae teases Modes launch in 2023
Described as a “groundbreaking way to find and book accommodation”, Modes is set to offer a “hyper-curated vacation rental browsing experience completely based on unique interests”, according to Dr Andrae.
HomeToGo (ETR: HTG) may be seeking to follow the path of Airbnb by allowing its users to search for their desired vacation rental property according to their specific needs and preferences, including “one-of-a-kind” rentals, “legendary” rentals or properties that keep price top of mind for consumers.
Last September, HomeToGo completed its business combination with Lakestar SPAC I to begin trading publicly on the Frankfurt Stock Exchange.
READTerms Tracker for the Week Ending March 31, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Filings continue to remain quiet, but SPACs did manage to price two more IPOs this week with TMT Acquisition Corp (Nasdaq: TMTCU) and Trailblazer Merger...
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...