Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Judge approves Asurion’s purchase of Enjoy Technology, Rumble sets new record for monthly active users, and e.GO enters into agreement with North Macedonia to build MicroFactory
Judge approves Asurion’s $110 million purchase of Enjoy Technology
Online retailer Enjoy Technology Inc received approval from a U.S. bankruptcy court on Friday to sell its business to technology repair company Asurion LLC for $110 million.
U.S. Bankruptcy Judge J. Kate Stickles in Wilmington, Delaware, signed off on the sale at a hearing on Friday, saying it was a reasonable exercise of the debtor’s business judgment and was a fair, arms-length transaction.
Founded in 2014 by former Apple Inc and JCPenney Co executive Ron Johnson, the company filed for Chapter 11 protection fewer than nine months after going public through a SPAC.READ
Rumble Sets New Record for Monthly Active Users
Today, the online video platform Rumble announced that its user base reached a new high in the second quarter of 2022, increasing to an average of 44 million average monthly active users (MAUs) and representing a 76 percent increase compared to the second quarter of 2021.
Rumble’s mission is to restore the Internet to its roots by making it free and open once again. The company announced in December 2021 the execution of a definitive business combination agreement with CF Acquisition Corp. VI (NASDAQ: CFVI).READ
e.GO, an Innovative Producer of Urban Electric Vehicles, Announces Agreement to Build New MicroFactory in the Republic of North Macedonia
Next.e.GO Mobile SE, an innovative producer of urban electric vehicles leveraging its disruptive MicroFactory production system, announced today that it has entered into an agreement with the Republic of North Macedonia to build a MicroFactory in the country’s Technological Industrial Development Zones (“TIDZ”), near the city of Tetovo. Once in production, the North Macedonian MicroFactory will be the Company’s 3rdMicroFactory worldwide, with the 1st being the in-production Aachen, Germany MicroFactory and the 2nd being the in progress MicroFactory in Bulgaria.
As announced on July 28, 2022, e.GO has entered into a definitive agreement for a business combination with Athena Consumer Acquisition Corp. (NYSE: ACAQ), a publicly-traded SPAC that would result in e.GO becoming a publicly listed company.READ
Carbon capture technology has long been talked about, and it is finally in operation with LanzaTech among the pioneers. Its plants are turning potential emissions into clothing, household goods and sustainable fuels. SPAC cash is now also an accelerant in this new process as the company announced a $1.7 billion combination with AMCI II last March. This week, we caught up with...
In this series we’ll be examining successful SPAC deals from the past both in the terms and circumstances of their de-SPAC processes and how they have weathered the storms that have followed after their public listings with research from SPACInsider contributor Anthony Sozzi. Thirty months does not sound like that long, but it’s been a...
Seaport Calibre Materials Acquisition Corp. (Nasdaq: SCMA) announced this afternoon that it is pushing today’s special meeting back until January 31. The SPAC is currently facing a completion deadline of February 1, but is looking to extend its timeline by an additional six months to August 1. Stockholders may elect to redeem their shares for a pro rata...
Blockchain Coinvestors I (NASDAQ:BCSA) announced this afternoon that it is once again postponing its special meeting to extend its timeline to complete its business combination. The meeting was originally scheduled to be held on January 18, but was subsequently postponed to January 27, and now February 3. The SPAC is hoping to gain shareholder approval at...
Insight Acquisition Corp. (NYSE: INAQ) announced this afternoon that it has signed a non-binding letter of intent (LOI) to combine with oil and gas developer Avila Energy Corporation (CSE:VIK). The parties have agreed to negotiate the terms of the transaction on an exclusive basis through February 24, at which point Insight may extend the term for an additional...