Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Volocopter to serve Paris Olympics, ZeroNox announces product development agreement with Kubota Corp., and Spectral MD completes audit for its DeepView Wound Imaging System
Air taxi maker races to serve Paris Olympics as sector struggles for funds
A year ahead of the Paris Olympics, flying taxi maker Volocopter wants to prove to executives at the Paris Airshow it is on track to ferry customers around the sporting showcase and take off globally.
The world’s largest air show tends to focus on military and commercial planes. But electric vertical takeoff and landing (eVTOL) aircraft makers are also there in force, with Lilium announcing a deal on Monday for China’s HeliShenzhen Eastern General Aviation Co. to buy 100 of its jets.
Volocopter had initially planned to go public via a SPAC, but ultimately ended up canceling those plans in 2021.READ
ZeroNox Announces Product Development Agreement with Kubota Corporation
Zero Nox Inc. a leading provider of sustainable, off-highway vehicle electrification, today announced a product development agreement for currently undisclosed products with Kubota Corporation in Japan.
Under the terms of the agreement, ZeroNox and KBT have entered a product development agreement to electrify select undisclosed products. Further details of the products included in the product development agreement will be disclosed at a later date.
As previously announced, ZeroNox signed a definitive business combination agreement with The Growth for Good Acquisition Corp. (Nasdaq: GFGD).READ
Spectral MD Holdings Completion of ISO 13485 Certification Audit
Spectral MD Holdings, Ltd. (AIM: SMD), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, announces it has completed the quality management ISO 13485 certification audit for the manufacture and distribution of its DeepView® Wound Imaging System. ISO 13485 certification has now been recommended and is anticipated in Q3 2023. The completion of the audit validates Spectral MD’s commitment to meeting the highest standards of quality, reliability, and safety in the medical device industry.
As announced on April 11, Spectral MD Holdings has entered into a business combination agreement to combine with Rosecliff Acquisition Corp I (“Rosecliff”, Nasdaq: RCLF).READ
Mobiv Acquisition Corp. (NASDAQ:MOBV) announced this afternoon that it has closed its combination with EV motorcycle-maker SRIVARU. Shareholders originally approved the deal at a special meeting held back on September 28, but at that time, the parties expected the transaction to take just a week to close. Redemptions whittled Mobiv’s IPO share pool of 10,005,000 down...
Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the...
EF Hutton Acquisition Corp. I (NASDAQ:EFHT) announced this morning that its shareholders have approved its business combination with E.C.D. Auto Design. At the meeting, there were 5,089,203 shares of common stock, representing approximately 76.82% of the issued and outstanding shares of common stock, present. In connection with the meeting, the company’s stockholders holding 3,470,945 shares,...
Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...
At the SPAC of Dawn This week ends with an unusually busy earnings calendar as 172 US-listed companies report quarterly figures today. Among them is Exela Technologies (NASDSAQ:XELA), which completed a combination with Quinpario 2 in 2017. The billing software company has gone on to do another SPAC deal on November 29, this time spinning...