The Latest SPAC News and Rumors: August 17, 2023
by Marlena Haddad on 2023-08-17 at 11:35am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Wheels Up secures $500M lifeline but still faces turnaround challenges, and DWAC rallies as sponsors push for more time


Wheels Up flies for now, but private-jet rivals see opportunity

Loss-making private jet firm Wheels Up Experience (NYSE:UP) nabbed a key $500 million lifeline but still faces turnaround challenges, as demand for private travel softens in the wake of the COVID-19 pandemic and rival operators lure some of their customers.

Wheels Up avoided a possible bankruptcy when it secured backing from investors on Tuesday, including U.S. carrier Delta Air Lines. Shares rose 11% on Wednesday in midday trading.

Wheels Up, which charters planes by the hour, went public in 2021 through a special purpose acquisition company with the goal of appealing to a broader flying base as an “Uber of the sky.”

READ


Trump-Tied SPAC’s Rally at Risk as Sponsors Need More Time

The blank-check company seeking to take Donald Trump’s media company public sweetened the proposed deal to keep the former president from walking away. Now it needs to make sure rank—and-file investors stick around, too.

Digital World Acquisition Corp. (NASDAQ:DWAC), the special-purpose acquisition company that’s been waiting to take over Trump Media & Technology Group for nearly two years, will ask investors on Thursday to push out the deadline for closing the deal by another 12 months. The blank check said in a filing Wednesday evening that the meeting will be held on Sept. 5 and not Aug. 17 as originally scheduled.

READ


The Latest SPAC News and Rumors: August 17, 2023
Recent Posts
by Nicholas Alan Clayton on 2025-07-14 at 12:51pm

Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...

by Nicholas Alan Clayton on 2025-07-14 at 11:13am

Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...

by Kristi Marvin on 2025-07-14 at 9:19am

This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...

by Nicholas Alan Clayton on 2025-07-14 at 8:30am

At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...

by Kristi Marvin on 2025-07-12 at 10:02am

Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved