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).
READAzerion 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).
READBrazil 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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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...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
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...