Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Polestar posts $304M loss amid delays, Starry emerges from bankruptcy with new growth goals, and Oklo selected to provide clean power to Air Force Base
Polestar Posts $304 Million Loss Amid Delays, Competition
Polestar Automotive Holding (NASDAQ:PSNY) posted another operating loss in the second quarter as the electric-vehicle maker struggled with software delays and intensifying competition.
While revenue surged in the UK and Sweden, it declined in key markets including the US and China during the three months through June, the EV maker said Thursday. Polestar, which is owned by Volvo Car AB and Chinese billionaire Li Shufu’s private investment company, posted a net loss of $304 million.
Polestar combined with special purpose acquisition company Gores Guggenheim Inc, raising $890 million in the process.
Internet Startup Starry Emerges From Bankruptcy With New Growth and Profit Goals
Oklo Selected to Provide Clean and Resilient Power to Eielson Air Force Base
The Defense Logistics Agency Energy on behalf of the United States Air Force has issued a Notice of Intent to Award a contract to Oklo Inc. to provide power and heat at the Eielson Air Force Base as part of the Air Force’s micro-reactor pilot program. This project represents a significant stride towards ensuring a clean and resilient energy supply for critical national security infrastructure.
On July 11, Oklo and AltC Acquisition Corp. (NYSE: ALCC) announced that they have entered into a definitive business combination agreement that upon closing would result in the combined company to be listed on the New York Stock Exchange under the ticker symbol “OKLO.”
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Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...
At the SPAC of Dawn Futures sit slightly red as investors return from holidays of barbecues and fireworks to renewed concerns about where US President Donald Trump’s tariff policy might hamper trade. The latest shift produced a further one-month delay in most of the tariffs Trump has threatened to impose as his administration continues to...
Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...
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...