Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: KKR to invest $500 million in Freyr Battery, and ex-CEO of Lordstown Motors sells millions of shares of stock he owns in EV startup
KKR Is In Talks to Invest $500 Million in Freyr Battery
Freyr Battery SA (NYSE:FREY) is in talks with KKR & Co. Inc. (NYSE:KKR) about raising financing, according to people familiar with the matter, sending shares higher by more than 10%.
The Norwegian battery company is discussing raising $500 million from KKR, said one of the people, who asked to not be identified because the details are private. The company’s financing discussions could be disclosed as soon as this week, the people said.
With a market value of about $1.7 billion, Freyr went public through a special purpose acquisition company last year. It produces so-called clean batteries for reducing emissions, according to its website.
READEx-CEO of Lordstown Motors sheds more shares, gains millions
The founder and ex-CEO of Lordstown Motors (NASDAQ:RIDE) has once again sold millions of the shares of stock he owns in the electric-vehicle startup, and has earned himself millions of dollars in the process.
This time, Steve Burns sold more than 4.7 million shares of common stock over a two-day period Tuesday and Wednesday for more than $9.2 million, according to a document filed with the U.S. Securities and Exchange Commission.
When Lordstown Motors merged with New York-based DiamondPeak Holdings Corp., a special purpose acquisition, in August 2020 to become a publicly traded company, Burns’ legacy Lordstown Motors stock was converted into 46.3 million shares of common stock for the new company.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC Liquidations: Mission Advancement Acquisition Corp., and Clarim Acquisition Corp. Mission Advancement Acquisition Corp. Shareholders Approve Liquidation Date Amendment On December 6, 2022, the stockholders of Mission Advancement Corp. approved an amendment to allow...
BYTE Acquisition Corp. (NYSE:BYTS) announced this afternoon that its special meeting to extend its deadline, originally scheduled for Tuesday, December 20, 2022, has been postponed. The SPAC has not yet disclosed the new date for the meeting, but it is expected to be announced at a later date. BYTE did note that it intends to...
D and Z Media Acquisition Corp. (NYSE:DNZ) announced this afternoon that its special meeting, originally scheduled for 12:00 p.m. today, was convened and then adjourned, without conducting any business, to 1:30 p.m. on December 19. As of now, DNZ has a completion deadline of January 28, 2023, but is hoping to seek shareholder approval to add an extra...
EDOC Acquisition Corp. (NASDAQ:ADOC) has entered into a definitive agreement to combine with food oil processing company Australian Oilseeds at an enterprise value of $190 million. Australian Oilseeds manufactures food-grade, edible oils through several subsidiaries. Transaction Overview EDOC has an estimated $21.3 million in its current trust after seeing about 77.5% redemptions in extension votes....
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Buzzfeed cuts 12% of staff, and ASIG plans to expand through acquisition upon completion of SPAC BuzzFeed cuts 12% of staff citing worsening econ conditions Digital media company BuzzFeed (NASDAQ:BZFD) is cutting 12%...