Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Trump’s Truth Social asks Congress to probe SEC delays, Next.e.Go Mobile announces signing of MOU with Trafigura, and Euronext CEO confident IPO conditions are poised to improve
Trump’s Truth Social asks Congress to probe SEC delays, conflicts of interest during merger review
The parent company for former President Donald Trump’s Truth Social platform is asking Congress to investigate the SEC, alleging regulators there have engaged in “egregious conduct and blatant politicization” to delay the social media platform’s potential merger with an acquisition firm.
The SEC has been reviewing the so-called S4 plan submitted in fall 2021 by Digital World Acquisition Corp. (NASDAQ:DWAC) to merge with Trump Media & Technology Group, which owns the Truth Social platform that now boasts millions of users and has become a potent alternative for conservatives to traditional social media platforms like Twitter and Facebook.
READNext.e.GO Mobile SE Announces Signing of Memorandum of Understanding with Trafigura to Solidify Long-Term Supply of Aluminium and Battery Metals
Next.e.GO Mobile SE, an innovative producer of urban electric vehicles, today announced that it has entered into a memorandum of understanding (MOU) with Trafigura Pte. Ltd., a leading international commodity company, to establish a long-term supply chain management service agreement focused on the supply of aluminium and battery metals such as lithium, cobalt, and copper.
As announced on July 28, 2022, e.GO has entered into a definitive agreement for a business combination with Athena Consumer Acquisition Corp. (NYSE: ACAQ) that would result in e.GO becoming a publicly listed company.
READEuronext CEO Confident IPO Conditions Are Poised to Improve
Euronext NV, Europe’s largest stock-exchange group, says the pipeline for initial public offerings remains strong even amid a current drought, but companies are having difficulty picking the right time to list because of market volatility.
There’s a vibrant set of businesses, particularly in the technology sector, that are ready to go public, Euronext Chief Executive Officer Stephane Boujnah said in a video interview from Paris Monday.
Boujnah expects the wave of blank-check companies, or SPACs, that grew when there was abundant liquidity, to be over. “The reality is that most of those SPACs had two years to invest,” he said. “It turns out that some of them are starting to return money to shareholders.”
READTikTok Direct Sales Tank for Brands From Beachbody to Juice Plus
The pandemic gave the industry an unexpected reprieve — people stuck at home hawked vitamins and essential oils via TikTok and Facebook, and for a while the business boomed. But now, with that boom quickly becoming a distant memory, some of the biggest names in the industry are falling into financial trouble.
Beachbody (NYSE:BODY), backed by the likes of former NBA star Shaquille O’Neal and civil rights activist Martin Luther King III is seeing less demand for its online fitness programs and nutritional products as Americans get back to the gym. It’s also a victim of the SPAC crash: its shares have tumbled nearly 95% since it merged with a blank-check company in 2021.
Forest Road Acquisition Corp. completed its combination with Beachbody in June 2021.
READ
Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...