Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Nasdaq threatens to delist Trump SPAC, Plastiq files for bankruptcy, and Virgin Galactic faces crucial test flight
Nasdaq threatens to delist the Trump SPAC from the stock market
Digital World Acquisition Corp. (NASDAQ:DWAC), the blank-check firm seeking to merge with former President Donald Trump’s media venture that owns the Truth Social app, has received a delisting notice from the Nasdaq.
In a press release Wednesday, Digital World said it “received an expected letter” from the stock market because it hasn’t filed a quarterly report for the period ending on March 31. The letter doesn’t mean the company will be delisted, but its stock could disappear from the Nasdaq exchange if it doesn’t get its act together soon.
READPayments Processor Plastiq Files for Bankruptcy After Aborted SPAC Deal
Payments processor Plastiq has filed for bankruptcy, less than a year after an aborted merger with a special-purpose acquisition company and weeks after Silicon Valley Bank’s collapse temporarily halted its operations.
San Francisco-based Plastiq sought protection from creditors Wednesday with a proposed deal to be acquired by publicly traded payments business Priority Technology Holdings.
Richard Branson’s Space-Tourism Dreams Face a Crucial Test Flight
Virgin Galactic Holdings Inc.(NYSE:SPCE), the space-tourism startup founded by Richard Branson, plans to send a six-person crew to the edge of space and back on Thursday — a crucial test of whether the company is ready to start its commercial space service late next month.
The flight, called Unity 25, is scheduled to take off at 8 a.m. local time from New Mexico with two seasoned pilots and four passengers — all Virgin Galactic employees. It’s the company’s first crewed mission in almost two years.
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Future Vision II Acquisition Corp. announced the pricing of its $50 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “FVNNU”, Friday, September 12, 2024. The new SPAC intends to focus its search on businesses within the technology, media, and telecommunications sector. Future Vision II’s sponsor team is...
Southport (OTC:PORT) has entered into a definitive agreement to combine with Angel Studios at a pro forma enterprise value of $1.56 billion. Angel Studios produces film and TV content for both streaming and theatrical releases. The combined company is expected to trade on the NYSE or Nasdaq under the symbol “AGSD” once the deal is...
At the SPAC of Dawn Anyone hoping for fireworks at last night’s US presidential debate was unlikely to have been disappointed. But, for many industries and family pets just hoping to be left out of it, it was no dice. On the SPAC side of things, of course no de-SPAC is more tied to this...
At the SPAC of Dawn The market may be in for a rollercoaster 24 hours of macro indicators. Just as the first presidential debate reset market expectations about the political direction of the US, so too did a switch at the top of the ticket by one of the major parties. At 9 pm ET...
At the SPAC of Dawn September’s busy, but short, first week is set to keep rolling with three completion votes by Achari I (OTC:AVHI), Nova Vision (NASDAQ:NOVV) and Focus Impact (NASDAQ:FIAC) this week. All three of these have been postponed at least once, and could do so again, but Focus Impact has its transaction deadline...