Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: MSP Recovery plunges over 60% following merger, and Polestar invests in Israeli fast-charging battery startup
Mega-SPAC Mints a $21 Billion Fortune That Collapses in Minutes
MSP Recovery (NASDAQ:MSPR) was valued at $32.6 billion in its merger with special purpose acquisition company Lionheart Acquisition Corp. II, the largest such combination ever in the US as measured by enterprise value. It began trading Tuesday on the Nasdaq, plunging more than 60% to $3.85 at 10:04 a.m. in New York, less than an hour after its debut.
Miami attorney John H. Ruiz, 55, owns a 65% stake in the company. That position was worth $21.4 billion at the $10 merger price, but plunged to $8.3 billion after MSP began trading.
READPolestar Invests in Israeli Extreme Fast-Charging Battery Startup
Electric vehicle (EV) automaker Polestar is investing in Israeli startup StoreDot, a company working towards producing silicon-based EV batteries that can take on a claimed 160km of range in five minutes.
This is the first financial investment the Swedish-Chinese manufacturer has made in another company, and follows a similar investment from parent company Volvo.
Dubbed ‘100in5’, StoreDot’s technology is slated for production by 2024, and is apparently in “real-world testing by leading automotive manufacturers”.
Gores Guggenheim (NASDAQ:GGPI) entered into a definitive agreement to combine with Polestar on September 27, 2021.
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Terms Tracker for the Week Ending June 20, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Two more SPACs priced IPOs this week, one each from Cohen and Cantor. That brings June’s IPO count to five and the 2025 year-to-date tally...
CSLM Digital Asset (NASDAQ:KOYNU) has filed for a $200 million IPO to hunt for a crypto transaction with a team that includes veterans from a variety of other SPAC efforts. The new SPAC sports 1/2 warrants in units and will have 24 months to initially close a business combination. It becomes the 16th SPAC that...
At the SPAC of Dawn The past year has seen a string of serial sponsor teams return to market, with some already listing multiple vehicles in a full return to the hunt. One prolific SPAC leader that has been conspicuously absent from this return so far has been Chamath Palihapitiya, who has been a part...
BM Acquisition Corp. (NASDAQ:BMOKU) has filed for a $60 million IPO to bring another first-time, Asia-based team to the market. The new SPAC is serving up 1/2 warrants in each of its units and the team will have 18 months under its initial search window to close a deal. It may extend this, but only...
At the SPAC of Dawn The Fed’s rate decision day has finally come and futures are slightly green in anticipation. De-SPACs have largely opted not to hedge their bets on the event with several making large-scale equity capital raises directly on its eve. Four companies alone raised over $1 billion in secondary offerings this week,...