Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Foxo plans to go public through merger with Delwinds Insurance, Forbes announces 4Q and full-year results, and salary of Heliogen CEO could top Goldman
Life Insurance Epigenetics Startup Foxo Plans to Go Public Via SPAC
Foxo Technologies Inc., whose artificial intelligence and genetics technology is used to underwrite life insurance, is going public through a deal with a blank-check company, according to Bloomberg.
The merger with Delwinds Insurance Acquisition Corp. (NYSE:DWIN) will value the combined company at $369 million.
Delwinds raised $201 million in an initial public offering in 2020.
READForbes Announces Fourth Quarter & Full-Year 2021 Financial Results
Throughout the fourth quarter, revenue increased 51 percent year-over-year to $94 million, driven by contributions across Media and Consumer businesses. In particular, the Company’s Consumer business was up 72 percent in the fourth quarter year-over-year.
For 2021, revenue increased 40 percent to $259 million compared to $185 million in the prior year period; this exceeded our prior projections of $225 million by 15 percent.
Solar Startup Heliogen’s CEO Pay Could Top Goldman Sachs
A solar-power startup little known outside of the energy industry gave its chief executive officer a bigger pay package last year than banking giant Goldman Sachs Group Inc. (NYSE:GS) lavished on its own leader. It’s also in excess of what Chevron Corp. (NYSE:CVX) and NextEra Energy Inc. (NYSE:NEE) are paying their top executives this year.
Pasadena, California-based Heliogen Inc. (NYSE:HLGN) provided chief executive officer Bill T. Gross with compensation worth $37 million for 2021, according to a filing last month after it went public with Athena Technology in late December.
Gross’s award, however, comes with a catch: It almost entirely consists of options that vest over four years and will be valueless unless he helps lift the company’s stock price back above $9. The shares closed at $4.07 on Tuesday.
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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...