Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lucid to raise $3B in a common stock offering from Saudi owners, Betsy Cohen says SPACs will make a comeback, and SatixFy makes another leadership change
Lucid Raising $3 Billion With More Money From Saudi Owners
Lucid Group Inc. (NASDAQ:LCID) is raising about $3 billion in a common stock offering with the majority of the money coming from the electric vehicle maker’s Saudi owners after a more than 60% stock slump in the last year. The shares plunged more than 7% in extended trading.
The company announced the raise along with a corresponding investment by its owners — Saudi Arabia’s Public Investment Fund — in a statement, confirming an earlier Bloomberg News report. PIF, the kingdom’s largest sovereign wealth fund, is purchasing $1.8 billion of the stock in a private placement.
READWhy Dealmaker Betsy Cohen Believes SPACs Will Make A Comeback
Reverse merger vehicles – better known as SPACs – have fallen out of flavor amid rising interest rates and slumping stock valuations. But one prominent dealmaker, Betsy Cohen, says they’re due for a comeback.
“It will come back, because it serves a need,” says Cohen, who helped take seven companies public through SPACs between 2015 and 2021, making her one of the industry’s more prolific “sponsors.” These deals helped Cohen, age 81, build her estimated $245 million fortune, which puts her at No. 98 on Forbes’ just-published annual list of America’s Richest Self-Made Women.
READSpace SPAC Startup SatixFy Sees Fifth CEO In Year
Satellite computer chip startup SatixFy (NYSE:SATX), which saw a rotation of executives pass through its corner office even before it became a publicly traded company, said Nir Barkan will be acting CEO effective June 1, replacing Ido Gur, “who is stepping down.”
READPublicSq. Values-Aligned Marketplace Announces Growth Milestone; Adds Nearly 300,000 New Consumer Members in a Single Week, Bringing Total to More Than One Million
PSQ Holdings, Inc. (“PublicSq.”), a leading marketplace of patriotic businesses and consumers, today announced that its consumer member base increased by over 300,000 from May 23, 2023, to the end of May. PublicSq.’s consumer membership grew by more than 40% in a single week, fast-tracking the platform to more than one million consumer members in less than 11 months since its nationwide launch on July 4th, 2022.
At the SPAC of Dawn Fed Chair Jerome Powell announced yesterday that the body intends to keep rates unchanged, earning him the moniker “FOOL” by US President Donald Trump. But, the announcement could bring some stability to market, which has seen macro factors pull it a variety of directions since the start of the year....
Tariffs, Trade Routes, and Tech: Freightos’ View from the Cargo Frontlines 2025 is shaping up to be a wild year for global trade, and few companies have a vantage point on the impacts of every-changing tariff policy quite like digital cargo-booking platform Freightos (NASDAQ:CRGO). This week, we catch up with Freightos CEO Zvi Schreiber. He shares...
NMP (NASDAQ:NMPU) has filed for a $100 million SPAC to conduct a broad search for a target, leveraging its team’s past consultancy work. The new SPAC’s units are set to contain one right to a 1/5 share. That is more generous to investors than the unit structure for Maxim Group’s other new SPAC filing this...
At the SPAC of Dawn Futures are green ahead of the Fed Chair Jerome Powell’s highly anticipated press conference at 2:30 pm ET today following two days of Federal Reserve meetings. Several other Fed members are expected to speak on Friday, but any news on rate changes is likely to come out of today’s speech,...
Dune Acquisition Corporation II (NASDAQ:IPODU) announced the pricing of its $125 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “IPODU”, Wednesday, May 7, 2025. The new SPAC aims expects to conduct a broad search for a combination target, but is interested in companies that are in the...