Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Trump-tied SPAC DWAC surges after Elon Musks dumps Twitter deal and MANSCAPED partners with Pete Davidson
Trump-Tied SPAC Surges After Elon Musk Dumps His Twitter Bid
Investors piled back into stocks tied to former President Donald Trump after Elon Musk abandoned his planned purchase of Twitter Inc.
Shares of Digital World Acquisition Corp. (NASDAQ:DWAC), the special purpose acquisition company merging with Trump’s media venture, soared as much as 26% to $30.90 on Monday. Warrants tied to the SPAC spiked as much as 60%, while Phunware Inc.(NASDAQ:PHUN), a software company that worked on Trump’s re-election campaign, jumped as much as 26%.
The rally came after Musk said he was pulling the plug on his agreement to buy Twitter, a move that would ease some investor fears that a Musk-run operation could spell the end of Trump’s Truth Social. Devin Nunes, chief executive officer of Trump Media & Technology Group, which owns Truth Social, told Fox Business in April that Twitter wasn’t seen as a threat to the company’s ambitions.
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MANSCAPED Signs Pete Davidson As Brand Partner And Shareholder
Today, the global men’s grooming company and lifestyle consumer brand officially welcomed Pete Davidson as Brand Partner and Shareholder. Known for his iconic comedic style, unapologetic authenticity, and total appeal to the world, Pete brings a unique edge and boundless content opportunity to the disruptive grooming brand. To kick off the four-year partnership, the comedian and longtime fan of the brand collaborated with MANSCAPED on an inaugural ad that brings to life the magic of this marriage.
On November 23, 2021, MANSCAPED announced its entry into a definitive business combination agreement with Bright Lights Acquisition Corp. (Nasdaq: BLTS) (“Bright Lights”).
READGraf Acquisition Corp. IV (NYSE:GFOR) announced in an 8-K this afternoon that it has come to a forward purchase agreement (FPA) with Meteora Capital Partners involving up to 2,500,000 shares for its combination with NKGen Biotech. Meteora is to purchase up to that amount on the open market prior to close, capped at 9.9% of...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Heard on the Street: VinFast’s SPAC Backers Are Backing Out Even by the standards of electric-vehicle startups, the $40 billion market value of Vietnamese electric-vehicle startup VinFast is wild, following its combination with Black Spade last month....
Murphy Canyon (NASDAQ:MURF) announced this morning that it has closed its combination with Conduit Pharmaceuticals and its shares and warrants are expected to begin trading on the Nasdaq under the symbols “CDT” and “CDTTW” on September 25. The company also closed a purchase of $20 million in Murphy Canyon units at close, which is to...
Indie Semiconductor (NASDAQ:INDI), which merged with Thunder Bridge II in June 2021, announced this morning that it has launched an exchange offer to convert each outstanding warrant to 0.285 Class A shares in the company. At Indie’s last closing price of $6.22, this is $1.77 of value each, although the stock has been rising since...
Atlantic Coastal II (NASDAQ:ACAB) has entered into a definitive agreement to combine with drug developer Abpro at a valuation of $725 million. Woburn, Massachusetts-based Abpro is advancing a series of drug candidates to potentially treat COVID, cancer and diabetic blindness. The combined company is expected to trade on the Nasdaq once the deal is completed...