Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Foxconn threatens to pull funding from Lordstown and ZeroNox partners with Jospong Group to launch electrification project
Lordstown savior Foxconn is threatening to pull funding
The EV startup that went public via a SPAC merger cautioned investors Monday that it may be forced to file for bankruptcy because Foxconn may pull out of a critical funding deal, according to a regulatory filing.
Taiwanese manufacturer Foxconn sent a letter April 21 to Lordstown stating the automaker was in breach of the investment agreement because its stock price fell below $1 for 30 days and was at risk of being delisted on the Nasdaq exchange. Foxconn warned it would terminate the investment agreement if the breach is not resolved within 30 days.
READZeroNox and Jospong Group Launch World’s Largest Fleet Retrofit Electrification Project
Zero Nox Inc., a leading provider of sustainable, off-highway vehicle electrification, celebrated the launch of its partnership with the Jospong Group of Companies (JGC), one of Ghana’s most diversified holding companies, with the formal signing of the Joint Venture agreement today at ZeroNox headquarters to advance clean technology solutions in Africa.
As previously announced, ZeroNox signed a definitive business combination agreement with The Growth for Good Acquisition Corp. (Nasdaq: GFGD).
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NMP Acquisition Corp. (NASDAQ:NMPAU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NMPAU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company that has a resilient business model with potential to scale up revenue. NMP’s management...
Cohen Circle Acquisition Corp. II (NASDAQ:CCIIU) announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CCIIU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company in the financial services technology (fintech) sector and fintech adjacent sectors that...
Indigo Acquisition Corp. (NASDAQ:INACU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “INACU”, Tuesday, July 1, 2025. The new SPAC plans to combine with an established, profitable company whose growth potential can benefit from its team’s expertise. Indigo’s management team is...
After a quiet June, July is set to be active throughout the month with nine de-SPACs and sponsors coming unlocked from their trading restrictions. This timing is most fortuitous for insurance investor Abacus Life (NASDAQ:ABL) and East Resources, which took it public in 2023, as it is the best performer of this group of companies...
Pyrophyte II (NYSE:PAII.U) has filed for a $175 million SPAC to dig for a natural resources target while the team’s first deal remains pending. The new SPAC is offering investors 1/2 warrants in each unit and it will have 24 months to complete a business combination without asking shareholders for an extension. It is the...