Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lidar maker Innoviz wins $4 billion Volkswagen contract
Israeli lidar maker Innoviz wins $4 billion Volkswagen contract for millions of sensors
Israeli lidar maker Innoviz (NASDAQ:INVZ) announced Tuesday it has won a contract to supply lidar units and related software for autonomous driving to a unit of Volkswagen, in a deal worth $4 billion in sales over eight years.
Under the deal, Volkswagen will incorporate Innoviz’s latest automotive lidar unit and its proprietary perception software into vehicles across its portfolio.
Innoviz, which went public via a merger with Collective Growth Corp. in late 2020, had previously announced the deal but had not revealed its client. The lidar maker said in May that it had won a deal with “one of the largest vehicle manufacturers in the world” to “become its direct lidar supplier across multiple brands.”
READ
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...
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....