The Latest SPAC News and Rumors: July 21, 2023
by Marlena Haddad on 2023-07-21 at 11:44am

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

Latest SPAC News: DWAC settles SEC charges of fraud and Global Hydrogen Energy selected by Port of Brownsville as private development partner in $15M funding application


SPAC that plans to merge with Trump Media settles SEC charges of fraud

A special purpose acquisition firm that is set to merge with former U.S. President Donald Trump’s media company settled regulatory charges that it had made “material misrepresentations” to investors.

The U.S. Securities and Exchange Commission (SEC) said on Thursday that Digital World Acquisition Corporation (NASDAQ:DWAC), which was found to have violated antifraud provisions of federal securities laws, agreed to a cease-and-desist order and to pay an $18 million penalty if it closes the merger.

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Global Hydrogen Energy Selected by Port of Brownsville as Private Development Partner in $15 Million Federal Funding Application

The Port of Brownsville, Texas, the largest land-owning public port authority in the United States, last month submitted an application seeking $15 million in funding under the U.S. Department of Transportation’s (“DOT”) Charging and Fueling Infrastructure Discretionary Grant Program (“CFI”).  Global Hydrogen Energy LLC (“Global Hydrogen”) was selected as the Port’s private hydrogen project development partner. Grant award decisions are expected later this summer.

Global Hydrogen, which seeks to be a leader in the sustainable energy transition as a next-generation industrial gas supplier, previously announced on May 15, 2023 that it had entered into a definitive agreement for a business combination with Dune Acquisition Corporation (Nasdaq: DUNE).

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The Latest SPAC News and Rumors: July 21, 2023
Recent Posts
by Nicholas Alan Clayton on 2025-07-03 at 12:54pm

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...

by Nicholas Alan Clayton on 2025-07-03 at 8:27am

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...

by Nicholas Alan Clayton on 2025-07-02 at 12:13pm

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...

by Nicholas Alan Clayton on 2025-07-02 at 8:29am

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....

by Nicholas Alan Clayton on 2025-07-02 at 6:28am

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...

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