Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Faraday Future ousts its CEO and Hyzon Motors SPAC board is sued over ‘outlandish’ deal hype
EV SPAC Faraday Future ousts its CEO
Faraday Future (NASDAQ:FFIE), the troubled EV startup-turned-publicly-traded company, has shuffled its executive ranks once again.
The board fired its CEO Carsten Breitfeld, according to a regulatory filing posted Monday after the markets closed. Brietfeld, who was the former co-founder of failed EV startup Byton, took the leadership role at Faraday Future in September 2019.
The messiness at the company has only ramped up since it went public through a merger with Property Solutions Acquisition Corp. in July 2021. Investigations, a restructuring and a going concern warning are just a few of the dramatic turn of events in the past 18 months.
READHyzon Motors SPAC Board Sued Over ‘Outlandish’ Deal Hype
Investors of a special purpose acquisition company that merged with zero-emission hydrogen fuel automaker Hyzon Motors Inc. (NASDAQ:HYZN) have filed suit in Delaware Chancery Court, claiming the SPAC’s sponsors, founders and directors made misrepresentations about Hyzon to gain shareholder approval of the deal.
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At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...