Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: KKR to invest $500 million in Freyr Battery, and ex-CEO of Lordstown Motors sells millions of shares of stock he owns in EV startup
KKR Is In Talks to Invest $500 Million in Freyr Battery
Freyr Battery SA (NYSE:FREY) is in talks with KKR & Co. Inc. (NYSE:KKR) about raising financing, according to people familiar with the matter, sending shares higher by more than 10%.
The Norwegian battery company is discussing raising $500 million from KKR, said one of the people, who asked to not be identified because the details are private. The company’s financing discussions could be disclosed as soon as this week, the people said.
With a market value of about $1.7 billion, Freyr went public through a special purpose acquisition company last year. It produces so-called clean batteries for reducing emissions, according to its website.
READEx-CEO of Lordstown Motors sheds more shares, gains millions
The founder and ex-CEO of Lordstown Motors (NASDAQ:RIDE) has once again sold millions of the shares of stock he owns in the electric-vehicle startup, and has earned himself millions of dollars in the process.
This time, Steve Burns sold more than 4.7 million shares of common stock over a two-day period Tuesday and Wednesday for more than $9.2 million, according to a document filed with the U.S. Securities and Exchange Commission.
When Lordstown Motors merged with New York-based DiamondPeak Holdings Corp., a special purpose acquisition, in August 2020 to become a publicly traded company, Burns’ legacy Lordstown Motors stock was converted into 46.3 million shares of common stock for the new company.
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Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
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...