Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Tanzanian entrepreneur plans $4 billion agriculture investment via SPAC, Elizabeth Warren backs SEC’s tougher SPAC plan, and TMTG unveils new features on Truth Social
Tanzanian entrepreneur Dewji plans $2-4 billion grains production investment via SPAC
The head of one of Tanzania’s biggest firms, Mohammed Dewji, said he plans to float an agriculture company worth up to $4 billion in New York or London next year, with money raised mainly from development banks.
Russia’s invasion of Ukraine in February sent global grain and fertiliser prices soaring, though they have retreated in recent weeks. Inflation has subsequently risen in many African countries.
He said he aimed to structure the venture, for which he has yet to secure land, as a SPAC and would himself put up $400 million as 10% to 20% of total funding.
READElizabeth Warren Backs SEC’s Tougher SPAC Plan to Curb ‘Scams and Fraud’
Elizabeth Warren is coming out in support of the US Securities and Exchange Commission’s proposed rules to regulate blank-check companies, urging more protections for individual investors who can fall prey to Wall Street.
In a letter to SEC Chair Gary Gensler on Friday, the Massachusetts senator said she backed the agency’s proposals for SPACs, “which will level the playing field for retail investors and prevent Wall Street insiders from perpetuating scams and fraud to line their own pockets.”
READTMTG Unveils New Features on Truth Social
Today, Trump Media & Technology Group (“TMTG”), led by its Chairman Donald J. Trump and CEO Devin Nunes, unveiled significant new features on its free-speech social media platform Truth Social, rapidly delivering another major upgrade for its users.
To provide users with a superior social media experience that augments Truth Social’s chronological feed, today’s update include a Profile Carousel atop the Truth Social feed swiftly connects users directly to the feeds of some of the most popular and active accounts they follow, a Suggested Profiles Carousel is interspersed throughout the feeds, helping users discover new and interesting accounts, and more.
Digital World (NASDAQ:DWAC) entered into a definitive agreement to combine with Trump Media and Technology Group last year on October 21.
READ
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...