Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SEC publishes rulemaking agenda, American Battery Materials expands board and strategic relationships, and Tomorrow.io raises $87M in Series E round
SEC Spring Rulemaking Agenda Published
A number of final rules are slated for October 2023, including the following:
- Climate change disclosure rules
- Cybersecurity risk governance rules
- SPAC rules
- Amendments to 13D/G
The Commission proposed rules and rule amendments intended to enhance investor protections in IPOs by SPACs and in subsequent business combination transactions between SPACs and private operating companies. Specifically, the Commission proposed specialized disclosure requirements with respect to, among other things, compensation paid to sponsors, conflicts of interest, dilution, and the fairness of these business combination transactions.
READSeaport Global Acquisition II : American Battery Materials, Inc. Expands Board and Strategic Relationships to Accelerate Lithium Extraction Development
American Battery Materials (OTC Pink: BLTH), an environmentally responsible minerals exploration and development company focused on direct lithium extraction (DLE) and other critical minerals for the global energy transition, today announced the appointment of a new director and engagement of new team members critical to the acceleration of the Company’s development of its lithium extraction plans.
ABM has also engaged advisory firms Buenos Aires Capital Partners, and iRadia Capital to explore acquisition and joint venture opportunities to diversify its lithium platform into Latin America with a focus on Argentina.
On June 2, 2023, ABM and Seaport Global Acquisition II Corp. (NASDAQ: SGII) (“SGII”) has previously announced the signing of a definitive merger agreement for a business combination.
READTomorrow.io Raises $87M in Series E Round
Tomorrow.io announced an $87 million Series E funding round, along with the successful launch of its second satellite on this week’s SpaceX rideshare mission. Activate Capital led the round for the weather intelligence startup, and new investors include RTX Ventures, Seraphim, and Chemonics.
Existing investors SquarePeg Capital, Canaan, ClearVision, JetBlue Ventures, and Pitango participated as well.
The company initially planned on combining with Pine Technology Acquisition Corp., but later paid to end the deal, citing the poor performance of stocks for other growth-stage companies.
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After a quiet June, July is set to be active throughout the month with nine de-SPACs and sponsors coming unlocked from their trading restrictions. This timing is most fortuitous for insurance investor Abacus Life (NASDAQ:ABL) and East Resources, which took it public in 2023, as it is the best performer of this group of companies...
Pyrophyte II (NYSE:PAII.U) has filed for a $175 million SPAC to dig for a natural resources target while the team’s first deal remains pending. The new SPAC is offering investors 1/2 warrants in each unit and it will have 24 months to complete a business combination without asking shareholders for an extension. It is the...
At the SPAC of Dawn The last day of the quarter is to play host to a pair of shareholder votes and a possible pricing of Indigo‘s (NASDAQ:INACU) $100 million IPO. This week is also to play host to fresh jobs numbers just before the long July 4 weekend. Black Hawk (NASDAQ:BKHA) was also one...
Terms Tracker for the Week Ending June 27, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. June continued its late-month rally with another five SPAC IPOs pricing this week, bringing the monthly total to 10 and the 2025 year-to-date count to...
Blueport (NASDAQ:BPACU) has filed for a $69 million SPAC that would bring another first-time sponsor team to market. The new SPAC is offering investors a right to a 1/6 share in each unit and it will have 15 months to complete a business combination. It is underwritten by Alliance Global Partners and will not be...