The Latest SPAC News and Rumors: August 31, 2023
by Marlena Haddad on 2023-08-31 at 11:31am

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.

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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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by Kristi Marvin on 2023-09-28 at 4:40pm

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by Nicholas Alan Clayton on 2023-09-28 at 11:45am

Home Plate Acquisition Corporation (NASDAQ:HPLT) announced that it adjourned this morning’s extension vote without conducting any business and it will pick things up again at 11 am ET October 2. Shareholders at the meeting are to consider giving Home Plate an extra two and half months to complete a deal, moving its deadline from October...

by Nicholas Alan Clayton on 2023-09-28 at 11:29am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Law firm Schulte sues SPAC over fees from failed Philippine casino merger U.S. law firm Schulte Roth & Zabel is suing its former client 26 Capital Acquisition Corp to recover more than $1.9 million in legal fees...

by Nicholas Alan Clayton on 2023-09-28 at 10:56am

Fortune Rise Acquisition Corp. (NASDAQ:FRLA) announced this morning that it has changed the target of its letter of intent to combine, but only partially. The SPAC had an existing LOI to merge with its own sponsor, but since that sponsor is now a subsidiary of another company it has to combine with a different version...

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