Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: BlackSly and Momentus win contracts, Terran Orbital’s CAPSTONE completes primary mission, and Richard Branson puts himself and Virgin brand on trial
BlackSky and Momentus Win Contracts
Momentus (NASDAQ:MNTS) has won a contract with Apogeo Space to provide in-space transportation for the Italian company’s batch of nine Internet of Things (IoT) picosatellites. Apogeo is developing a 100-satellite IoT constellation.
BlackSky Technology (NYSE: BKSY) said it has won a two-year, multi-million dollar ground station augmentation contract for an unidentified Ministry of Defense customer. It is the company’s second major contract for an international advanced tactical agency.
Momentus completed its deal with Stable Road in August 2021 while BlackSky Technology completed its business combination with Osprey Technology in September 2021.
READTerran Orbital-Developed CAPSTONE Completes Primary Mission
Terran Orbital Corporation (NYSE:LLAP), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, announced its CAPSTONE’s recent successful completion of its primary mission: navigating to and within the Near Rectilinear Halo Orbit (NRHO), and performing the initial successful test of the Cislunar Autonomous Positioning System (CAPS) in coordination with the NASA Lunar Reconnaissance Orbiter (LRO). In addition, CAPSTONE imaged the Moon.
Terran Orbital completed its combination with Tailwind Two in March 2022.
READBillionaire Richard Branson Puts Himself on Trial
Has Sir Richard Branson’s business empire lost its sparkle? A UK court will address that question next month when hearing a $250 million claim brought by Virgin Enterprises against a Florida rail company.
At issue is whether Brightline Holdings LLC, backed by Fortress Investment Group, was within its rights in 2020 to terminate a 20-year deal to use the Virgin name and logo for its high-speed railway due to an alleged deterioration of the Virgin brand.
In April, Branson’s satellite launch company Virgin Orbit Holdings Inc. (OTCMKTS:VORBQ) filed for bankruptcy following a launch mishap in the UK and after failing to raise more funding. A pair of Branson SPAC investments have also crashed to earth: online retailer Grove Collaborative Holdings (NYSE:GROV) has tumbled more than 95% while genetic testing firm 23andMe Holding Co. (NASDAQ:ME) has declined 80%.
Berenson Acquisition Corp. I (BACA) Signs Non-Redemption Agreements Berenson (NASDAQ:WTMA) announced in an 8-K this morning that it has entered non-redemption agreements with third parties that will secure 655,715 shares from redemption. The filing did not note what incentive, if any, these investors received for agreeing not to redeem. The move comes as Berenson is...
Crixus BH3 Acquisition Company (NASDAQ: BHAC) announced in a filing this afternoon that it is postponing its extension vote to Friday, October 6, 2023 at 9:00 a.m ET. The meeting was originally to be held Friday, September 29, but presumably it has been moved to account for amendments to its proxy which was filed today...
Welsbach Technology Metals Acquisition Corp. (NASDAQ: WTMA) announced in an 8-K this afternoon that it is postponing its extension vote one day to 2 pm ET September 29. The SPAC would not be able to postpone it much further as its current transaction deadline falls on a Saturday the next day, September 30. At the...
Global Lights Acquisition Corp. (NASDAQ:GLAC) rolled out an S-1 on Friday, to become the 21st SPAC to file in 2023. This keeps the recent pace with two new SPACs filing to list in each of the past three months so far. Three out of the last four of those have also sought to raise $60...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Terran Orbital Closes 432.5 Million Public Offering Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital” or the “Company”), which combined with Tailwind Two in March 2022, today announced the closing of its previously announced public offering of 23,214,290...