Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Foris Ventures backs Complete Solaria and Rigetti Computing to lay off 28% of staff
John Doerr to Back Solar Company Ahead of Merger With Thiam’s SPAC
The investment firm of John Doerr, the billionaire chairman of Kleiner Perkins, will put $10 million into Complete Solaria, the solar company that’s merging with the blank-check vehicle started by Tidjane Thiam, a former CEO at Credit Suisse Group AG.
Last October, Freedom Acquisition I Corp. (NYSE:FACT), a special purpose acquisition company set up by Thiam, agreed to combine with solar startup Complete Solaria. Complete Solar Solution Inc. and Solaria merged into Complete Solaria as part of the deal, which is expected to close in the first half.
READQuantum computing Rigetti Computing to lay off 28% of staff, replace CFO & CTO
Hybrid quantum-classical computing company Rigetti Computing (NASDAQ:RGTI) plans to lay off 28 percent of its staff, and replace its CFO and CTO.
The company faces a possible delisting from the Nasdaq stock exchange over the low value of its stock, and has until July 24 to maintain a $1 stock price for 10 consecutive days.
Rigetti went public in March 2022 via a SPAC merger with Supernova Partners Acquisition Company II, Ltd. Its stock reached a high of around $8.81 in May 2022 and has been trending downwards since.
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Terms Tracker for the Week Ending March 31, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Filings continue to remain quiet, but SPACs did manage to price two more IPOs this week with TMT Acquisition Corp (Nasdaq: TMTCU) and Trailblazer Merger...
Hudson Acquisition I Corp. (NASDAQ:HUDA) announced that it has signed a non-binding letter of intent (LOI) to combine with a pre-clinical-stage biotechnology company. The SPAC did not provide many details on the unnamed target, but disclosed that the biotech company is focused on developing intranasal preventives for major disease-causing respiratory viruses. As a condition to the target...
Heading into April, SPACs are to see eight sponsors and 11 de-SPAC’d companies freed from lock-ups and ready to trade. Most of these lock-up expirations are loaded into the final week of the month, but those hitting this milestone already next week include some of the more interesting transactions of the crop. In particular, MoonLake...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Shares of Digital World jump after Trump’s indictment, and pair of Delaware Chancery court decisions deny motions to dismiss SPAC shareholder’s fiduciary breach claims Trump-Tied SPAC’s Shares Jump After Historic New York Charge The...
Ares Acquisition Corporation II (NYSE:AACT) filed its S-1 yesterday afternoon for a $400 million IPO, marking the second SPAC to file for an IPO in March and the largest since December 20, 2021, when Gores Holdings X Inc. filed for a $725 million SPAC. Ares II intends to focus its search on an established target...