Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: VW, Glencore back $1B SPAC mine deal, Lordstown Motors to sue Foxconn, and Circle to move forward with IPO
VW, Glencore Back $1 Billion SPAC Mine Deal to Secure EV Metals
Russian metal industry veteran Artem Volynets’ blank check firm agreed to acquire two Brazilian mines for $1 billion including debt in a bid to tap demand from electric-vehicle makers.
London-listed ACG Acquisition Co. (LON:ACG) is buying the assets from private equity firm Appian Capital Advisory, according to a statement Monday confirming an earlier Bloomberg News report. Volkswagen AG’s (OTCMKTS: VWAPY) battery arm will support the deal with a $100 million prepayment for future nickel deliveries, while commodities trader Glencore Plc (OTCMKTS: GLNCY) will buy $100 million of ACG stock.
READLordstown Motors to sue former savior Foxconn
Lordstown Motors (NASDAQ:RIDE), the Ohio-based electric vehicle (EV) maker, is preparing to sue Foxconn, the Taiwanese manufacturer, if it fails to buy nearly 10% of Lordstown’s shares and pulls out of an investment agreement.
The threat of litigation comes as Lordstown struggles to raise capital and stay in business. Lordstown has faced a long string of capital challenges and internal scandals since becoming publicly traded following a merger with a special purpose acquisition company.
Circle Moves Forward With IPO Plans Despite The SEC’s Moves
The SEC has been closely monitoring the crypto industry after the events from last year. Top players like Binance and Coinbase have recently faced lawsuits from the top regulator.
However, Circle, the USDC stablecoin issuer, recently announced that it would proceed with its public listing plans despite the decisive action taken by the SEC.
Circle’s move towards being a publicly listed company began during the 2021 cryptocurrency’s bullish season. At that time, the company stated that it was ready to enter a merger with a SPAC to become a public company.
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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...
At the SPAC of Dawn Futures sit slightly red as investors return from holidays of barbecues and fireworks to renewed concerns about where US President Donald Trump’s tariff policy might hamper trade. The latest shift produced a further one-month delay in most of the tariffs Trump has threatened to impose as his administration continues to...
Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...
Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...