The Latest SPAC News and Rumors: July 25, 2023
by Marlena Haddad on 2023-07-25 at 11:35am
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: FaZe Clan partners with McDonalds, American Battery Materials acquires substantial mining claims, and Inspirato announces second round of job cuts
FaZe Clan Explores Acquisition Offers and Partners with McDonalds in Pursuit of Growth and Innovation in Esports and Gaming
On July 24, 2023, it has been reported that FaZe Clan (NASDAQ:FAZE), a prominent esports and gaming content organization headquartered in Los Angeles, is currently assessing acquisition proposals from Gamesquare and Enthusiast Gaming.
This development follows FaZe Clan’s successful transition into a publicly traded company in July 2022, facilitated by its merger with B. Riley Principal 150 Merger Corp, a SPAC. As a result, FaZe Clan is now officially listed on the NASDAQ stock exchange, solidifying its market value at an impressive $1 billion.
READAmerican Battery Materials Acquires Substantial Mining Claims to Increase Domestic Production of Lithium
American Battery Materials, Inc. (OTC Pink: BLTH), an environmentally responsible minerals exploration and development company focused on direct lithium extraction (DLE) and other critical minerals for the global energy transition, today announced that it has acquired and staked additional lithium mining claims adjacent to its Lisbon Valley Project, located in San Juan County, Utah.
On June 2, 2023, ABM and Seaport Global Acquisition II Corp. (NASDAQ: SGII) (“SGII”), a publicly-listed special purpose acquisition company, announced the signing of a definitive merger agreement for a business combination that will result in ABM becoming a wholly-owned subsidiary of SGII.
READInspirato announces second round of job cuts this year
In news first revealed by Skift, Jeff Hartman, executive vice president of marketing at Inspirato (NASDAQ: ISPOW), said that the company was prioritising “right-sizing” its business. Departments believed to be affected by the cuts include tech, business intelligence and human resources divisions.
The subscription-based platform previously trimmed its team by 12 per cent with immediate effect in January. At the time, it was revealed that Inspirato would continue operating with a headcount of 800 employees, although that figure was still up by more than 300 staff members compared to December 2020.
In February 2022, the private travel club closed its business combination with special purpose acquisition company Thayer Ventures Acquisition Corporation and began trading on the Nasdaq Stock Market.
READLotus Technology Inc Expands Globally in Luxury Electric Vehicles while L Catterton Asia Acquisition Corp Facilitates Business Combinations
As of July 24, 2023, Lotus Technology Inc. proudly announces its global expansion in the realm of luxury electric vehicles. With an impressive retail network of 1931 stores, the company has recently opened 24 new outlets within the first half of this year. Determined to further enhance their presence, Lotus Technology Inc. aims to surpass the 300-store milestone by the end of 2025.
Recent Posts
by Nicholas Alan Clayton on 2025-07-14 at 12:51pm
Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
by Nicholas Alan Clayton on 2025-07-14 at 11:13am
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...
by Kristi Marvin on 2025-07-14 at 9:19am
This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...
by Nicholas Alan Clayton on 2025-07-14 at 8:30am
At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...
by Kristi Marvin on 2025-07-12 at 10:02am
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...