SPACInsider Logo
The Latest SPAC News and Rumors: July 27, 2021
by Marlena Haddad on 2021-07-27 at 11:17am

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

Latest SPAC News: Britain revises SPAC rules, Lucid Motors rises following merger, and Joby completes flight of more than 150 miles with electric vertical take-off air taxi

Britain Eases SPAC Rules As Global Watchdog Puts Sector on Watch

Britain has eased rules for SPACs to attract more listings to London, just as global regulators have put a watch on the blank-check companies.

The Financial Conduct Authority in April had proposed an easing of the rules, waiving the suspension rule if a SPAC raised at least 200 million pounds ($275.66 million) from its float.  On Tuesday, the watchdog cut this to 100 million pounds in its final version of the rules.

“The final rules aim to provide more flexibility to larger SPACs, provided they embed certain features that promote investor protection and the smooth operation of our markets,” the FCA said in a statement.

To ensure investors are protected, the FCA also said that investors have redemption rights ahead of a proposed acquisition and a shareholder vote. The new rules come into effect on Aug. 10.


Lucid Motors Shares Rise 11% in First Trading Day After SPAC Merger

Shares of Lucid Group climbed 11% in their first day of trading on Monday after the electric-vehicle company completed a blank-check merger ahead of plans to launch production later this year.

Lucid stock closed Monday at $26.83. Shares of Churchill Capital Corp. IV ended trading at $24.25 on Friday.


Joby Completes Flight of More Than 150 Miles with Electric Vertical Take-Off Air Taxi

California-based electric air taxi company Joby Aero Inc. today announced it had achieved an important milestone in the development of its aircraft, flying a full-size prototype vehicle more than 150 miles on a single charge, including a vertical take-off and landing.


FINRA Announces New Sweep Exams

FINRA President Robert Cook has announced that FINRA will conduct new regulatory sweeps focusing on three areas: 1) the use of SPACs to raise money in the markets; 2) social media influencers who publicly give advice on stocks; and 3) the due diligence conducted by member firms prior to the opening of options accounts.



Recent Posts
by Nicholas Alan Clayton on 2023-06-07 at 7:04am

Trajectory Alpha (NYSE:TCOA) announced in an 8-K this morning that it has opted to postpone its June 8 extension vote to June 12 at 10 am ET. The SPAC will use this extra time to engage with shareholders at work to reverse redemption decisions. Trajectory Alpha’s team may still be getting acquainted with some major...

by Kristi Marvin on 2023-06-06 at 5:59pm

Tracking SPACs and all of their various types of “corporate actions” can be challenging. After all, a SPAC can postpone, adjourn, extend, complete, liquidate early, do a tender offer, and in some cases, one SPAC do all of those actions within its lifespan.  Naturally, this can be challenging to manage. More importantly, it can very...

by Marlena Haddad on 2023-06-06 at 11:34am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Byju skips payment on dollar loan and HNR affirms intent to purchase equity interests of Pogo Resources High-Flying Indian Startup Byju’s Skips Payment on Dollar Loan One of India’s best-known startups has skipped payment...

by Marlena Haddad on 2023-06-06 at 10:15am

Avalon Acquisition Inc. (NASDAQ:AVAC) announced in an 8-K this morning that it has entered into a prepaid forward purchase agreement with RiverNorth SPAC Arbitrage Fund, the purchaser, as it works to close its combination with financial services firm The Beneficient Company, or Ben. As part of the agreement, RiverNorth agreed to effect certain purchases of shares...

by Nicholas Alan Clayton on 2023-06-06 at 9:43am

Blue Ocean (NASDAQ:BOCN) has entered into a definitive agreement to combine with digital media company TNL Mediagene at a pre-money enterprise value of $275 million. TNL Mediagene holds the Japanese licenses for a number digital media properties as well as Taipei-based The News Lens. The combined company Is expected to trade on the Nasdaq once...

Privacy Policy|Terms Of Use
Copyright © 2023 SPACInsider, Inc. All Rights Reserved