Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lotus Robotics designated by leading automakers to license its driving solutions and VinFast’s rally burns traders playing greater fool theory
Lotus Robotics Designated by Leading Automakers to License its Intelligent Driving Solutions
Lotus Technology Inc. a leading global luxury electric vehicle maker, announced today that its intelligent driving arm, Lotus Robotics, has been designated to license several leading automakers to provide them with its intelligent driving technology and software. The announcement demonstrates the R&D prowess that is driving the growth of Lotus Tech’s technology-related revenues as the Company executes its Vision80 business transformation strategy.
As announced in January 2023, Lotus Tech entered into a definitive agreement and plan of merger with L Catterton Asia Acquisition Corp (NASDAQ: LCAA).
READVinFast’s 504% Rally Burns Traders Playing Greater Fool Theory
Eleven interest-rate hikes by the Federal Reserve have done little to break the gambling fever gripping the US stock market.
In episodes strikingly similar to those in the wildest moments of the early pandemic — think GameStop Corp. and AMC Entertainment Holdings Inc. — investors are frantically bidding up obscure stocks only to then watch them crash spectacularly. The very latest example: VinFast Auto Ltd (NASDAQ:VFS), an unprofitable electric-vehicle maker that at the zenith of a four-week trading frenzy had a market value greater than McDonald’s Corp. and four times that of General Motors Co. The stock has sunk roughly 80% in the eight days since.
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...