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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Terms Tracker for the Week Ending September 22, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. SPACs finally saw two new S-1 filings this week, the first to file since August 24th. Hainan Sirius Acquisition Corp. filed first on Thursday and...
Latest SPAC Liquidations: LF Capital Acquisition Corp. II LF Capital Acquisition Corp. II (LFAC) to Liquidate on October 3, 2023 LF Capital Acquisition Corp. II (Nasdaq: LFAC), today announced that the directors of the Company have determined to dissolve and liquidate the Company. The redemption of the Public Shares is expected to be completed on...
Latest Non-Redemption Agreements: Yotta Acquisition Corp.,Live Oak Crestview Climate Acquisition Corp. Yotta Acquisition Corp. (YOTA) Adds Non-Redemption Agreements Yotta Acquisition Corp. (NASDAQ:YOTA) entered into non-redemption agreements with certain unaffiliated third parties in exchange for such third parties agreeing not to redeem an aggregate of 598,680 shares of the Company’s common stock. In exchange for the foregoing...
Twin Ridge (NYSE:TRCA) announced this afternoon that it plans to convene and then adjourn its extraordinary general meeting of its shareholders originally to be held on September 26 at 11:30 a.m., Eastern Time. Twin Ridge intends to hold the new meeting at 11:30 a.m., Eastern Time, on October 3, 2023. Additional details were not given as to...
Social Leverage Acquisition Corp I (Nasdaq: SLAC) and W3BCLOUD Holdings Inc. announced this afternoon that they have mutually agreed to terminate their business combination agreement. The reasons cited were once again “due to existing market conditions”, which most likely implies the current capital market conditions as well as the fact that W3BCLOUD works within the...