Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: VinFast posts deeper loss in Q1, LanzaJet and LanzaTech selected by Air New Zealand to undertake sustainability study, and Abacus Life continues to expand market share
VinFast posts deeper loss in Q1, eyes July completion of SPAC merger
Vietnamese electric vehicle (EV) maker VinFast has reported a drop in first-quarter revenue by 49%, with a net loss deepening to $598 million in the first full reporting period since it started exporting to the United States.
VinFast made the disclosure in a filing late on Thursday with U.S. securities regulators as it looks to complete a merger with a blank-check company next month that will value the automaker at $23 billion.
The automaker, which had filed earlier for a U.S. initial public offering, announced last month it would go public through a merger with special purpose acquisition company Black Spade Acquisition Co.
LanzaJet And LanzaTech Selected By Air New Zealand and New Zealand Government to Undertake Study for Domestic Sustainable Aviation Fuel Production in New Zealand
LanzaJet, a leading sustainable fuels technology company and sustainable fuels producer, LanzaTech Global, Inc. (Nasdaq: LNZA), an innovative carbon capture and utilization (“CCU”) company that transforms waste carbon into materials such as sustainable fuels, fabrics, packaging, and other products that people use in their daily lives, today announced they have been selected by Air New Zealand and the New Zealand Ministry for Business, Innovation, and Employment (MBIE) to support the second stage of a study to determine commercial viability and sustainability of domestic sustainable aviation fuel (SAF) production in New Zealand.
READAbacus Life Continues to Expand Market Share in Life Settlement Payouts
Abacus Settlements, LLC (d/b/a Abacus Life) and Longevity Market Assets, LLC, a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, announced today that according to financial publication The Deal, the Company continued to expand its market share in the life settlement industry and remained a leader in life settlement payouts in 2022, bringing premier value to its clients. The Deal report evaluates life settlement providers based on the number of policies purchased and value.
As previously announced on August 30, 2022, Abacus entered into a definitive business combination agreement with East Resources Acquisition Company (NASDAQ: ERES).
READ
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....
1RT Acquisition Corp. (NASDAQ:ONCHU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ONCHU”, Wednesday, July 2, 2025. The new SPAC plans to target company in the digital asset ecosystem involved in the creation, storage, exchange or management of such assets, whether...
D. Boral ARC Acquisition II Corp. (NASDAQ:ARBCU) has filed for a $250 million SPAC to give underwriter D. Boral a second in-house SPAC to pursue deals with. The new SPAC offers investors a 1/2 warrant and an initial 18-month time frame to complete a deal. D. Boral II’s sponsor may automatically extend this once by...
Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...