Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lucid recalls EV sedans due to safety defect, Phunware sued by angel investors, and Gogoro manufactures one-millionth battery
Lucid Is Recalling About 200 High-End EV Sedans Due to a Safety Defect
Lucid Group Inc.(NASDAQ:LCID), a maker of luxury electric vehicles, is recalling about 200 cars due to a safety defect that could increase the likelihood of collisions.
A piece on the Lucid Air’s front strut dampers may have been installed incorrectly due to an error by a supplier, the company said in an email to customers that was seen by Bloomberg. “This condition may result in a sudden loss of ground clearance, vehicle vibration and front brake line damage, increasing the risk of a crash,” Newark, California-based Lucid told customers.
READPhunware Sued by Angel Investors Challenging SPAC Stock Lockup
A group of Phunware Inc. (NASDAQ:PHUN) investors sued the business and its leaders in Delaware, claiming they were wrongly subjected to a stock lockup clause after its reverse merger with a blank-check company, even though the provision only covers insiders and shareholders with stakes larger than 1%.
The lawsuit, filed Feb. 18 by more than dozen individual stockholders and investment firms, targets the mobile marketing and cryptocurrency services company, along with current and former members of its board and senior management.
Gogoro Manufactures One-Millionth Battery, Demonstrates Success of Open Battery Swapping Ecosystem
Gogoro® Inc., a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced it has manufactured its one-millionth battery. Launched in 2015, Gogoro Battery Swapping has become the de facto battery swapping standard for two-wheel vehicles in Taiwan, powering 95% of all electric two-wheelers. Gogoro’s open battery swapping ecosystem in Taiwan currently supports seven different vehicle brands and accounted for more than 25% of all two-wheelers sold in Taipei in December 2021.
Gogoro entered into a definitive agreement to combine Poema Global (NASDAQ:PPGH) last year on September 16.
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At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...