Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Trump Media probe seeks info on private equity firm, Swvl sees more customers ditch cars for buses, and SatixFy introduces compact aero terminal
Trump Media Probe Seeks Information on Obscure Private Equity Firm
A federal probe of Donald Trump’s social media deal is putting a spotlight on Rocket One Capital, an obscure private equity firm with no obvious connection to the transaction beyond a board member.
The Miami-based private equity firm is one of only two companies identified by name in a regulatory filing late last month by Digital World Acquisition Corp. (NASDAQ:DWAC), which described investigations into that financing entity’s planned deal to fund Trump Media & Technology Group Corp. A federal grand jury in the Southern District of New York seeks “information regarding” Rocket One, according to the filing, through subpoenas issued to each board member of Digital World. One of those board members was Bruce Garelick, Rocket One’s chief investment officer.
READDubai transport start-up Swvl sees more customers ditch cars for buses
Higher oil prices have helped Dubai-based transport startup Swvl (NASDAQ:SWVL) attract customers as people in its bigger markets such as Egypt and Pakistan ditch their cars in favour of buses, Chief Financial Officer Youssef Salem told Reuters.
The Nasdaq-listed company has however aggressively cut costs and put some business expansion plans on hold as it steers a path towards profitability next year to appease investors in the wake of higher inflation and interest rates.
READSatixFy Introduces Compact Aero Terminal Providing In-flight Connectivity at High Speeds
SatixFy, a leader in next-generation satellite communication systems based on in-house developed chipsets that previously announced plans to go public through a business combination with Endurance Acquisition Corp. (NASDAQ: EDNC), today introduced its advanced compact aero terminal – Onyx Aero. The terminal uses the company’s latest multi-beam ESMA and SDR technology to connect to both LEO and GEO Ku-band satellite constellations simultaneously to provide in-flight connectivity at high data rate speeds. The terminal’s slick design demonstrates low weight, low drag, and low footprint, which enables cost-effective operation and quick installation on commercial aircraft as well as on large business/corporate jets.
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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...