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The Latest SPAC News and Rumors: February 2, 2022
by Marlena Haddad on 2022-02-02 at 11:35am

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

Latest SPAC News: Voltus lines up bitcoin mine to provide capacity to PJM, Azerion NV lists in Amsterdam at $1.2B market cap, and Embraer’s subsidiary Eve expects 25% gross profit margin

Voltus Lines Up 100-Megawatt Bitcoin Mine to Provide Capacity to PJM Grid

Voltus Inc., an energy-management services provider, agreed to provide electricity to the biggest U.S. power grid from a cryptocurrency mine that Mawson Infrastructure Group Inc. is developing in Pennsylvania.

The Mawson facility is expected to be completed in June, and its energy will be available when needed by the grid operated by PJM Interconnection LLC, according to a statement Wednesday from San Francisco-based Voltus.  The 100 megawatts of capacity the crypto mine can send to PJM is enough to power 80,000 homes.

Voltus recently entered into a definitive merger agreement to combine with Broadscale Acquisition Corp. (NASDAQ:SCLE).

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Azerion NV Lists in Amsterdam at $1.2 Billion Market Capitalization 

Azerion Group NV, a digital advertising and entertainment company, on Wednesday listed in Amsterdam after its acquisition by a SPAC, called EFIC1, was completed.

Shares in the new entity traded 2.5% lower at 9.29 euros per share, implying a market capitalization for the company of around 1.04 billion euros ($1.17 billion).

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Brazil Planemaker Embraer’s Subsidiary Eve Expects Gross Profit Margin of 25%

Eve, a subsidiary of Brazil planemaker Embraer SA is expecting to report a gross profit margin of 25% when its electric vertical take-off and landing aircrafts (eVTOLs) start operating in 2026, said the company’s chief financial on Tuesday.

In December, Embraer agreed to combine Eve with Zanite SPAC (NASDAQ:ZNTE) and list it on the New York Stock Exchange. The firm is expected to start trading in the second quarter of 2022, after the closing of the deal with Zanite.

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