Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Investor sues over $16B United Wholesale Mortgage deal, and Freightos widens loss after listing on Nasdaq
SPAC Investor Sues Over ‘Abysmal’ $16B Mortgage Biz Merger
A special purpose acquisition company’s investor says in Delaware Chancery Court that the SPAC’s managers misled shareholders about a $16 billion merger with United Wholesale Mortgage (NYSE:UWMC) so that they could reap a return from what turned out to be an ‘abysmal’ deal.
READFreightos widens loss after listing on Nasdaq stock exchange
Freightos (NASDAQ: CRGO) has widened its fiscal-year loss after merging with SPAC Gesher I Acquisition Corp. in late January to become listed on the Nasdaq.
The Hong Kong-based container booking and payments platform posted $24.5 million in net loss for 2022, down from $16.4 million for 2021. Freightos attributed the greater loss to costs incurred while going public.
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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...