Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Grindr names George Arison CEO as it prepares for public debut, Getaround partners with GO, and Plastiq expands short-term financing offering
Grindr Names George Arison CEO as It Prepares for Public Debut
Grindr LLC, the dating app that specializes in connections for the LGBTQ+ community, has named George Arison its new chief executive officer, fulfilling a pledge to appoint someone who identifies with that group to lead the company as it prepares to go public.
Arison, 44, is the co-founder and former CEO of auto e-commerce marketplace Shift Technologies Inc. He will start at Grindr on Oct. 19 and shepherd the company through the process of listing on the stock market through a special purpose acquisition company Tiga Acquisition Corp (NYSE:TINV) later this fall.READ
Getaround and GO Partner to Launch Lucrative Carsharing Host Incentive Rebates
Getaround, the world’s leading digital peer-to-peer carsharing marketplace, today announced a new national partnership with GO, a leading vehicle subscription provider. Through this agreement, hosts who list their car on the Getaround platform now have rebate incentives from GO worth up to $1,200 per vehicle and can quickly and affordably start and scale their carsharing fleets.
On May 11, 2022, Getaround announced its entry into a definitive business combination agreement with InterPrivate II Acquisition Corp. (NYSE: IPVA).READ
Plastiq Expands Short-Term Financing Offering to Help SMBs Maximize Working Capital
Plastiq Inc., a B2B payments platform built with instant access to working capital, today announced Plastiq Short-Term Financing to provide Small and Mid-Sized Businesses (SMBs) with the working capital they need to drive continued growth. This offering enables SMBs to apply for funds, get an instant decision and activate their credit line in real-time, in the same experience where the business pays vendors. While SMBs represent a $9 trillion dollar Total Addressable Market (TAM) in the United States, short-term financing has not previously been available to SMBs in this easy-to-access format.
Plastiq Inc. and Colonnade Acquisition Corp. II (NYSE: CLAA) announced in August 2022 that they have entered into a definitive business combination agreement, which values the combined company at an estimated enterprise value of approximately $480 million at closing.READ
SatixFy Poised to Enable Direct-to-Cell 5G Non-Terrestrial Networks
SatixFy Communications Ltd., a leader in next-generation satellite communication systems based on in-house developed chipsets, ahead of the 73rd International Astronautical Congress 2022, is highlighting the potential for its technology to play a key role in the development of direct-to-cell satellite 5G services. This is a rapidly emerging area of satellite communications in which SatixFy believes it can play an important role in moving the technology forward in the coming years.
On March 8, 2022, SatixFy announced that it had entered into a definitive business combination agreement with Endurance Acquisition Corp. (NASDAQ: EDNC), a SPAC formed by an affiliate of Antarctica Capital, an international private equity firm.READ
Suneva Medical Launches 30 mL PRP Gel Tubes of Amplifine, Allowing for More Variety and Efficiency in PRP Treatments
Suneva Medical, Inc., an innovative medical technology company using regenerative products to change the standard of care in patient treatments, today launched the 30 mL iteration of their Amplifine Platelet Rich Plasma (PRP) gel tubes, which will provide patients and practices with a larger volume of PRP to address varying areas of concern more efficiently. The 30 mL PRP tubes received a 510(k) clearance by the U.S. Food and Drug Administration (FDA) earlier this year.
On January 12, 2022, Suneva Medical and Viveon Health Acquisition Corp. (NYSE American: VHAQ), a special purpose acquisition company, announced that they entered into a definitive merger agreement.READ
Nikola founder lied to investors about company tech, prosecutor says in fraud trial
Nikola Corp (NASDAQ:NKLA) founder Trevor Milton became a billionaire by lying to investors about the most important aspects of his low-emission vehicle company, a prosecutor told jurors as Milton’s fraud trial began on Tuesday.
Prosecutors have said Milton sought to deceive investors about the electric- and hydrogen-powered truck maker’s technology starting in November 2019. He left the company in September 2020 after a report by short seller Hindenburg Research called the company a “fraud.”
Nature’s Miracle, a Leader in the Controlled Environment Agriculture Industry, Signed an MOU with Canadian Greenhouse Developer Vermillion Growers, Inc. to Build a 60-Acre Greenhouse with Total EPC Value of $114 Million
Nature’s Miracle Inc. , announced that it has entered into a Memorandum of Understanding with Vermillion Growers, Inc. to develop a 60-acre vegetable greenhouse in Dauphin, Manitoba, Canada. The project will be completed in two phases with a total size of 60 acres.
Nature’s Miracle will provide turnkey solution including earthworks, foundations, structures (warehouses and greenhouses), machinery, irrigation, lighting in order to complete the construction of the greenhouse. The first and the second phases are expected to generate US$30 million and US$84 million in revenue, respectively, for Nature’s Miracle during the next two years. The greenhouse will primarily produce tomatos which will be supplied to the Canadian and the U.S. market.
Nature’s Miracle Inc. and Lakeshore Acquisition II Corp. ( Nasdaq: LBBB) previously announced that they entered into a definitive business combination agreement (the “Merger Agreement”).READ
Terms Tracker for the Week Ending December 2nd, 2022 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As we slide into December, and the holiday season, we recognized two new S-1 registration statements and zero IPOs. The two new S-1s consisted of...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC Liquidations: NightDragon, VectoIQ II, and Fortistar Sustainable Solutions Corp. Night Dragon Acquisition Corp. Will Redeem Its Public Shares and Will Not Consummate an Initial Business Combination NightDragon Acquisition Corp. (NASDAQ: NDAC) anticipates that the last trading day...
Lakeshore Acquisition I Corp. (NASDAQ:LAAA) disclosed this afternoon that its shareholders have approved its business combination with medical device company ProSomnus during a special meeting held earlier today. Approximately 92.4% of the votes cast at the meeting on the business combination proposal, representing approximately 80.5% of Lakeshore’s outstanding shares, voted to approve the deal. The SPAC disclosed...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Embark director Elaine Chao and others sued over SPAC merger, Alvotech switches CEO and takes COO from Teva, and Uber Freight and Aurora expand pilot Embark Director Elaine Chao, Others Sued Over SPAC...
SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among potential targets in the security industry. We look at why they are compelling and why each could be a fit for a blank-check merger. Security is on the market’s mind and is expected to grow at a CAGR...