Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: VinFast to start construction of US factory next week, LanzaTech partners with GAIL, and X-energy and Energy Northwest sign joint development agreement for modular reactor project
Vietnam EV maker VinFast to start construction of US factory next week
GAIL, LanzaTech Enter Strategic Partnership to Explore Biorecycling Carbon Waste into Fuels and Chemicals
Energy Northwest and X-energy Sign Joint Development Agreement for Xe-100 Advanced Small Modular Reactor Project
Energy Northwest, a premier provider of carbon-free electricity, and X-Energy Reactor Company, LLC (“X-energy”), a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation, today announced the signing of a joint development agreement (“JDA”) for up to 12 Xe-100 advanced small modular reactors in central Washington capable of generating up to a total of 960 megawatts of carbon-free electricity. Energy Northwest expects to bring the first Xe-100 module online by 2030.
As previously announced on December 6, 2022, X-energy entered into a definitive business combination agreement with Ares Acquisition Corporation (NYSE: AAC).READ
Flying electric taxi startup Vertical Aerospace (NYSE:EVTL) has completed its first remotely-operated test flight without being tethered in a key step towards a piloted test run.
The VX4, which takes off and lands vertically, was flown at about 70km per hour at Cotswold Airport. The Bristol-based company said it plans to conduct more flights in the “coming months”, and will continue work on its second prototype aircraft.
Vertical Aerospace listed on the NYSE in 2021 following a merger with special purpose acquisition company Broadstone.READ
GOP Rep. Meuser presses SEC over delayed Truth Social merger
Pennsylvania Republican Rep. Dan Meuser on Tuesday asked that Securities and Exchange Commission (SEC) Chairman Gary Gensler expeditiously consider a settlement involving Digital World Acquisition Corp. (DWAC) so as to advance its merger with the Trump Media & Technology Group ahead of a looming deadline to complete the deal.
“The SEC’s primary mission is to protect investors, maintain fair markets, and facilitate capital formation,” Meuser wrote. “Yet, the current inaction and delay surrounding the DWAC SPAC settlement and S-4 review contradicts these fundamental objectives.”
Digital World (NASDAQ:DWAC) is a SPAC that aims to merge with the firm operating Truth Social and thereby enable the platform’s appearance on the stock exchange.READ
CF Acquisition Corp. VIII (NASDAQ:CFFE) announced this afternoon that it has completed its combination with B2B software firm Exela. Although shareholders had previously approved the deal during a special meeting on August 24, no specific timeline for its next steps had been disclosed at that time. Additionally, a proposal was passed at the meeting to change...
DUET Acquisition Corp. (NASDAQ:DUET) has signed a business combination agreement with social media firm Fenix 360 at an enterprise value of $610 million. Singapore-based Fenix 360 is developing an app-based social media platform designed for artists to better engage with fans and monetize interactions. The combined company is expected to trade on the Nasdaq once...
PROOF Acquisition Corp I (NYSE: PACI) announced this morning that its shareholders have approved its business combination with private aviation company Volato at a special meeting held on November 28. Approximately 97% of the votes cast at the meeting were cast in favor of the approval of the deal. The SPAC did not disclose redemption...
At the SPAC of Dawn Filings after the bell yesterday provided another three-liquidation day for SPACs bringing this week’s tally to four and extending a streak of five straight weeks with four to five liquidations each week. With 178 SPACs having announced a liquidation so far in 2023, the year’s total number could well exceed...
Plum Acquisition Corp. I (NASDAQ:PLMI) has entered into a definitive agreement to combine with digital transformation company Veea for a total enterprise value of approximately $281 million. New York City-based Veea aims to simplify secure edge computing by improving application responsiveness, reducing bandwidth and data transport costs, and eliminating central cloud dependency. The parties expect the transaction to be...