Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: BlackSly and Momentus win contracts, Terran Orbital’s CAPSTONE completes primary mission, and Richard Branson puts himself and Virgin brand on trial
BlackSky and Momentus Win Contracts
Momentus (NASDAQ:MNTS) has won a contract with Apogeo Space to provide in-space transportation for the Italian company’s batch of nine Internet of Things (IoT) picosatellites. Apogeo is developing a 100-satellite IoT constellation.
BlackSky Technology (NYSE: BKSY) said it has won a two-year, multi-million dollar ground station augmentation contract for an unidentified Ministry of Defense customer. It is the company’s second major contract for an international advanced tactical agency.
Momentus completed its deal with Stable Road in August 2021 while BlackSky Technology completed its business combination with Osprey Technology in September 2021.
READTerran Orbital-Developed CAPSTONE Completes Primary Mission
Terran Orbital Corporation (NYSE:LLAP), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, announced its CAPSTONE’s recent successful completion of its primary mission: navigating to and within the Near Rectilinear Halo Orbit (NRHO), and performing the initial successful test of the Cislunar Autonomous Positioning System (CAPS) in coordination with the NASA Lunar Reconnaissance Orbiter (LRO). In addition, CAPSTONE imaged the Moon.
Terran Orbital completed its combination with Tailwind Two in March 2022.
READBillionaire Richard Branson Puts Himself on Trial
Has Sir Richard Branson’s business empire lost its sparkle? A UK court will address that question next month when hearing a $250 million claim brought by Virgin Enterprises against a Florida rail company.
At issue is whether Brightline Holdings LLC, backed by Fortress Investment Group, was within its rights in 2020 to terminate a 20-year deal to use the Virgin name and logo for its high-speed railway due to an alleged deterioration of the Virgin brand.
In April, Branson’s satellite launch company Virgin Orbit Holdings Inc. (OTCMKTS:VORBQ) filed for bankruptcy following a launch mishap in the UK and after failing to raise more funding. A pair of Branson SPAC investments have also crashed to earth: online retailer Grove Collaborative Holdings (NYSE:GROV) has tumbled more than 95% while genetic testing firm 23andMe Holding Co. (NASDAQ:ME) has declined 80%.
Welsbach Technology Metals Acquisition Corp. (WTMA) to Discuss Non-Redemption Agreements Welsbach Technology Metals Acquisition Corp. (NASDAQ:WTMA) announced in an 8-K today that it intends to discuss signing non-redemption agreements of unspecified size with investors ahead of its September 28 extension vote. Any takers on the offer would receive additional shares in the company’s combination target...
Latest SPAC Liquidations: Iconic Sports Acquisition Corp. Iconic Sports Acquisition Corp. (ICNC) to Liquidate on October 11, 2023 Iconic Sports Acquisition Corp. (NYSE: ICNC), today announced that its board of directors has determined to redeem all of its issued and outstanding Class A ordinary shares, effective as of October 11, 2023. The Company anticipates that...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Conduit’s $1.2bn Nasdaq listing deals another blow to London A British biopharmaceuticals business has completed a deal to list on Nasdaq, delivering a further blow to the London Stock Exchange which has struggled to persuade fast-growing companies...
Mercato Partners (NASDAQ:MPRA) announced in an 8-K this morning that it has added an $11.1 million PIPE at $10 per share to its combination with Brazilian software firm Nuvini. The PIPE investors remain unnamed for now, but this move would cover the combination’s $10 million minimum cash condition. That eliminates some uncertainty as Mercato approaches...
Terms Tracker for the Week Ending September 22, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. SPACs finally saw two new S-1 filings this week, the first to file since August 24th. Hainan Sirius Acquisition Corp. filed first on Thursday and...