Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Trump-tied DWAC tumbles following grand jury subpoena and car charging start-up EO opts for private funding
Trump-Tied SPAC Tumbles After Disclosing Grand Jury Subpoena
Digital World Acquisition Corp. (NASDAQ:DWAC), the special purpose acquisition company merging with Trump Media & Technology Group, tumbled after disclosing that a federal grand jury in the Southern District of New York issued subpoenas to the company and members of its board of directors.
The SPAC slumped 10% at the start of Monday’s trading, opening at the lowest level since the deal was announced last year. Warrants that are tied to the SPAC fell as much as 7% to $7.18 before trimming losses, they traded as high as $79 in October.
READCar charging start-up EO dumps SPAC for private funding
EO, a British provider of electric vehicle charging to companies such as Amazon and Tesco, is close to securing private funds to back its expansion into the EU and US after a failed attempt to float in the US through a Spac. EO was forced this year to ditch a $675mn deal to combine with First Reserve Sustainable Growth (NASDAQ:FRSG), a New York-listed special purpose acquisition company.
The move came as the war in Ukraine and wider slump in tech-related stocks caused the market for Spac backed flotations to freeze. Charlie Jardine, who founded EO Charging in 2014, said it had been a “challenging time to go public” but that the collapse of the deal now looked like a “gift”.
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Latest SPAC Liquidations: Schultze Special Purpose Acquisition Corp. II Schultze Special Purpose Acquisition Corp. II (SAMA) to Liquidate on October 11, 2023 Schultze Special Purpose Acquisition Corp. II (Nasdaq: SAMA), announced that it will redeem all of the outstanding shares of its Class A common stock effective as of October 11, 2023. The Company expects...
Mercato Partners Acquisition Corporation (NASDAQ:MPRA) announced this afternoon via 8-K that its shareholders have approved its combination with Nuvini at a special meeting held earlier today. With 79.74% of the voting power of the Common Stock participating in the vote, the combination was overwhelmingly approved. 7,975,698 shares were recorded voting for the transaction, while only 38,008...
Home Plate Acquisition Corporation (NASDAQ:HPLT) announced that it adjourned this morning’s extension vote without conducting any business and it will pick things up again at 11 am ET October 2. Shareholders at the meeting are to consider giving Home Plate an extra two and half months to complete a deal, moving its deadline from October...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Law firm Schulte sues SPAC over fees from failed Philippine casino merger U.S. law firm Schulte Roth & Zabel is suing its former client 26 Capital Acquisition Corp to recover more than $1.9 million in legal fees...
Fortune Rise Acquisition Corp. (NASDAQ:FRLA) announced this morning that it has changed the target of its letter of intent to combine, but only partially. The SPAC had an existing LOI to merge with its own sponsor, but since that sponsor is now a subsidiary of another company it has to combine with a different version...