Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: NuScale gains after completing merger, and Giga Carbon Neutrality initiates discussions on merger with SPAC
Nuclear-Tech Firm NuScale Gains After Completing SPAC Merger
NuScale Power Corp.(NYSE:SMR), an advanced nuclear technology company, rose on its first day of trading after completing a merger with blank-check company Spring Valley Acquisition Corp.
The Fluor Corp.(NYSE:FLR)-backed company gained 5.5% to close at $10.55 on Tuesday. It raised $380 million through the deal with the special purpose acquisition company.
READGiga Carbon Neutrality Initiates Discussions on Business Merger with Major Exchange Listed SPAC
Giga Carbon Neutrality Inc, the intelligent commercial mobility and clean energy technology company, today announced that it has signed a Letter of Intent (LOI) with a major stock exchange listed SPAC to work toward a Definitive Agreement for a merger of both companies.
If the discussions are successful, GCN will merge its new energy mobility solutions – both battery and hydrogen powered logistics vehicles, specialist vehicles and buses – and mobile and stationary energy storage capabilities with the SPAC forming a new publicly traded company.
READGraf Acquisition Corp. IV (NYSE:GFOR) announced in an 8-K this afternoon that it has come to a forward purchase agreement (FPA) with Meteora Capital Partners involving up to 2,500,000 shares for its combination with NKGen Biotech. Meteora is to purchase up to that amount on the open market prior to close, capped at 9.9% of...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Heard on the Street: VinFast’s SPAC Backers Are Backing Out Even by the standards of electric-vehicle startups, the $40 billion market value of Vietnamese electric-vehicle startup VinFast is wild, following its combination with Black Spade last month....
Murphy Canyon (NASDAQ:MURF) announced this morning that it has closed its combination with Conduit Pharmaceuticals and its shares and warrants are expected to begin trading on the Nasdaq under the symbols “CDT” and “CDTTW” on September 25. The company also closed a purchase of $20 million in Murphy Canyon units at close, which is to...
Indie Semiconductor (NASDAQ:INDI), which merged with Thunder Bridge II in June 2021, announced this morning that it has launched an exchange offer to convert each outstanding warrant to 0.285 Class A shares in the company. At Indie’s last closing price of $6.22, this is $1.77 of value each, although the stock has been rising since...
Atlantic Coastal II (NASDAQ:ACAB) has entered into a definitive agreement to combine with drug developer Abpro at a valuation of $725 million. Woburn, Massachusetts-based Abpro is advancing a series of drug candidates to potentially treat COVID, cancer and diabetic blindness. The combined company is expected to trade on the Nasdaq once the deal is completed...