Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Nasdaq threatens to delist Trump SPAC, Plastiq files for bankruptcy, and Virgin Galactic faces crucial test flight
Nasdaq threatens to delist the Trump SPAC from the stock market
Digital World Acquisition Corp. (NASDAQ:DWAC), the blank-check firm seeking to merge with former President Donald Trump’s media venture that owns the Truth Social app, has received a delisting notice from the Nasdaq.
In a press release Wednesday, Digital World said it “received an expected letter” from the stock market because it hasn’t filed a quarterly report for the period ending on March 31. The letter doesn’t mean the company will be delisted, but its stock could disappear from the Nasdaq exchange if it doesn’t get its act together soon.
READPayments Processor Plastiq Files for Bankruptcy After Aborted SPAC Deal
Payments processor Plastiq has filed for bankruptcy, less than a year after an aborted merger with a special-purpose acquisition company and weeks after Silicon Valley Bank’s collapse temporarily halted its operations.
San Francisco-based Plastiq sought protection from creditors Wednesday with a proposed deal to be acquired by publicly traded payments business Priority Technology Holdings.
Richard Branson’s Space-Tourism Dreams Face a Crucial Test Flight
Virgin Galactic Holdings Inc.(NYSE:SPCE), the space-tourism startup founded by Richard Branson, plans to send a six-person crew to the edge of space and back on Thursday — a crucial test of whether the company is ready to start its commercial space service late next month.
The flight, called Unity 25, is scheduled to take off at 8 a.m. local time from New Mexico with two seasoned pilots and four passengers — all Virgin Galactic employees. It’s the company’s first crewed mission in almost two years.
READ
Terms Tracker for the Week Ending May 9, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. After the sprint that was last week, with nine IPOs and six new SPAC filings, this week took a breather. Only two SPACs priced, there...
Lake Superior (NASDAQ:LKSPU) has filed for a $100 million SPAC as its CEO attempts to go three-for-three with SPACs that led to completed deals. This new vehicle has one right to a 1/6 share in each unit and some common features of a SPAC underwritten by Cohen & Company in this current climate. Although the...
At the SPAC of Dawn De-SPACs were among the biggest movers in yesterday’s stock market rally, but most of this momentum came on the backs of direct earnings performance. Only three US-listed companies had bigger one-day gains than quantum computing firm D-Wave’s (NYSE:QBTS) +51.2% jump. This came as the company announced $15 million in revenue...
EGH Acquisition Corp. (NASDAQ:EGHAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EGHAU”, Friday, May 8, 2025. The new SPAC aims to combine with a target company in the energy transition or sustainability arena that help industries achieve efficiencies and decarbonization....
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....