Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Trump media deal advisers were reprimanded by SEC, Marjorie Taylor Greene buys Trump-linked SPAC during height of trading frenzy, and DocGo secures multiple new contracts
Trump Media Deal Partner Advisers Were Reprimanded by the SEC
The financiers – Abraham Cinta, Sergio Camarero, Carlos Lopez and Jesus Emilio Hoyos Quintero – are managing partners of ARC Group Ltd, a Shanghai-based investment bank listed in a regulatory filing as a financial adviser to Digital World Acquisition Corp (NASDAQ:DWAC), the shell company merging with the former U.S. President’s venture.
Digital World touted ARC in one filing as adviser that had contacts in government, corporate, investment and advisory worlds and would help it “get access to quality deal pipeline.”
A review of regulatory filings shows that while ARC has been actively involved in the creation of SPACs, especially over the past two years, its executives ran into trouble with the U.S. SEC in 2017. The regulator sued to block the IPOs of three companies where the four men had leading roles, accusing them of misrepresenting their connections, misstating the nature and scope of their businesses and failing to cooperate with regulators.
READMarjorie Taylor Greene Buys Trump-Linked SPAC During Height of Trading Frenzy
Representative Marjorie Taylor Greene, one of Donald Trump’s most vocal supporters, bought as much as $50,000 worth of shares in a blank-check company tied to the former president during a frenzied day of trading for the firm last week.
After skyrocketing on Friday, shares in Digital World Acquisition Corp.(NASDAQ:DWAC) have since fallen about 22% this week. The stock was at around $73 a share midday on Thursday, after trading for as much as $175 last week.
It’s unclear how much money, if any, Greene may have lost so far. In a filing, the Georgia Republican disclosed that she bought between $15,001 and $50,000 in the company on Friday but didn’t specify the purchase price. The stock gyrated that day, falling as low as $67.96 before closing at $94.20.
READDocGo Secures Multiple New Contracts to Expand its Services Nationwide
DocGo, a leading provider of last-mile Mobile Health services and integrated medical mobility solutions that has entered into an agreement to merge with Motion Acquisition Corp. (NASDAQ: MOTN), has secured multiple new contracts that will enable its services to reach a wider patient population.
Expanding its presence in key markets across the country, DocGo is introducing additional services including Mobile Health for the residents of San Diego, CA and the homeless population in Delaware County, PA, monoclonal antibody infusion treatment for patients in Arizona, and COVID-19 testing at schools in Philadelphia and South Carolina.
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Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...