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.
READ
FIGX Acquisition Corp. (NASDAQ:FIGXU) announced the pricing of its $131 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “FIGXU”, Friday, June 27, 2025. The new SPAC aims to seek out a financial services target with a particular focus on wealth and asset managers with the potential to...
Yorkville Acquisition Corp. (NASDAQ:YORKU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “YORKU”, Friday, June 27, 2025. The new SPAC plans to combine with a target company in the telecom, media or technology sectors. Yorkville Acquisition Corp.’s management team is led...
At the SPAC of Dawn As pressure on Fed Chairman Jerome Powell increases, the market is set to ingest a raft of new indicators today as well as hear from Cleveland Fed President Beth Hammack on the potential interest rate path. Today will also see June’s 8th SPAC IPO as Cantor Equity Partners III Inc....
Cantor Equity Partners III Inc. (NASDAQ:CAEP) announced the pricing of its upsized $240 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CAEP”, Thursday, June 26, 2025. The new SPAC plans to combine with a target company in an industry where its management has relevant expertise such financial...
Launch One (NASDAQ:LPAA) has entered into a definitive agreement to combine with biotech firm Minovia Therapeutics at a $180 million pre-money valuation. Haifa, Israel-based Minovia is developing a drug platform based on mitochondrial cell therapies to potentially treat rare disorders as well as the effects of aging and other causes of bodily degeneration. The combined...