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The Latest SPAC News and Rumors: June 21, 2021
by Marlena Haddad on 2021-06-21 at 11:25am

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

Latest SPAC News: Missouri Cobalt hires Goldman to go public through SPAC, WeWork’s occupancy increased in May, Zoomcar eyes listing via SPAC, and Amazon in talks to buy 20% of Plus


U.S. Nickel-Cobalt Miner Missouri Cobalt Hires Bank To Go Public Through SPAC

U.S.-based nickel-cobalt miner Missouri Cobalt, LLC has hired Goldman Sachs to assess options, including a public listing through a blank-check company in a deal that could value the miner at up to $5 billion, two sources told Reuters.

A deal would underline growing interest by Wall Street in strategic minerals as President Joe Biden seeks to cut U.S. reliance on industry leader China for electric vehicle materials.

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WeWork Offers Business Update Showing Occupancy Improved in May

Office-sharing company WeWork, which had a spectacular failed IPO attempt in 2019 and is now planning to hit public markets via a merger with a SPAC, offered a business update on Monday and said total occupancy stood at 53% as of May, up three percentage points from March.

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Sequoia-backed Zoomcar Eyes U.S. Listing Via SPAC

Zoomcar Inc. is considering a listing in the U.S. within the next 12 months to tap markets beyond its home base of India and as coronavirus-related health concerns bolster demand for car rental.

“There’s a lot of momentum in the public markets for this type of story,” Zoomcar co-founder and CEO Greg Moran said in an interview on Friday, adding that a listing via a SPAC was also a possibility.

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Amazon Is in Talks To Buy Stake in AI Truck-Driving Startup Plus

Amazon.com Inc. has placed an order for 1,000 autonomous driving systems from self-driving truck technology startup Plus and is in talks to buy a stake of as much as 20%, a person familiar with the matter told Bloomberg.

The deal would give Amazon the right to buy preferred shares of Plus via a warrant at a price of $0.46647 per share, the person said. That would amount to a 20% stake based on Plus’s shares outstanding before its planned merger with SPAC Hennessy Capital Investment Corp. V.

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