Lucid Motors (NASDAQ:LCID) is finally giving a first look at its luxury all-electric Gravity SUV. New images released by the automaker Tuesday show off a spacious three-row interior with dual center seats that have leg rests that can recline and an exterior that features a swooping all-glass roof.
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Surf Air files for direct listing, Otonomo in talks to merge with UK auto-tech rival Wejo, and Forbes could sell for $800 million
Surf Air confidentially files for direct listing after ending SPAC deal
Electric aviation and regional air travel company Surf Air Mobility said on Wednesday it had confidentially filed for a direct listing in the United States after terminating its $1.42 billion merger deal with a blank check firm.
The deal with SPAC Tuscan Holdings Corp II (NASDAQ:THCA), which would have fetched Surf Air $467 million in cash proceeds, was called off mutually, the companies said.READ
Otonomo in talks to merge with UK auto-tech rival Wejo
Two auto-tech companies, which began publicly trading after SPAC mergers last year, and have since lost most of their value, could be set for a merger. Israeli auto-tech company Otonomo Technologies (Nasdaq: OTOM) is in talks with its UK rival Wejo Group (Nasdaq: Wejo) about a possible merger, according to market sources.
If such a merger were to be completed, Otonomo would be valued at $150 million, significantly higher than its current market cap of just $52 million but 96% lower than its valuation of $1.26 billion, when its SPAC merger was completed in the summer of 2021.READ
Forbes bidding group includes SUN Group, GSV
After a chaotic path ended in a failed SPAC IPO earlier this year, Forbes Media is now in exclusive talks to sell to a consortium of investors that includes India-based SUN Group and GSV Ventures, Axios has learned, in a deal that could fetch around $800 million.
Prior to striking the SPAC deal, Forbes held talks with GSV and other potential buyers such as software firm Block.one. The Forbes bidding consortium includes SUN Group, a family-owned Indian investment firm led by vice chairman Shiv Khemka, and GSV Ventures, a U.S. based investment firm, according to a source familiar with the matter.READ
Lucid gives first look at its luxury Gravity SUV as it begins to deliver cheaper Air Touring EV
Gravity is the automaker’s second vehicle model to be revealed. In a press release, Lucid’s SVP of design Derek Jenkins says the company is “sparing no opportunity to build on everything we learned with Lucid Air,” the automaker’s luxury electric sedan and first vehicle.
Hints about Lucid’s SUV started as early as 2019 when then-chief technology officer Peter Rawlinson (now also CEO) told The Verge that plans for an SUV were “quite possible.” But the SUV would not get mentioned again until the company went public through a SPAC merger in 2021. At the time, the SUV was slated to be released in 2023.
Seaport Calibre Materials Acquisition Corp. (NASDAQ:SCMA) announced in an 8-K that it has inked new non-redemption agreements after postponing its initial extension vote. The SPAC has agreed to allocate up to 37,500 promote shares (1.1%) to investors holding in exchange for them agreeing not to redeem an aggregate of 150,000 shares at the vote now...
Armada I (NASDAQ:AACI) announced this afternoon that it has once again postponed its extension vote. The SPAC initially planned to hold its special meeting on January 20, but postponed it to January 30, and will now be pushing it back until tomorrow, January 31. Armada has also extended the deadline for holders to submit their public...
Prime Impact I (NYSE:PIAI) has entered into a definitive agreement to combine with auto insurance firm Cheche at an enterprise value of $841 million, or about 2.3x its 2022 revenue. Beijing-based Cheche provides a digital insurance platform for car owners in China with about 34 million vehicles covered. The combined company is expected to trade...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Hambro Perks eyes merger with Biotech Istesso, Rocket Lab launches first vehicle from U.S. soil, and Alliance Entertainment signs licensing agreement with The Walt Disney Company Hambro Perks SPAC Eyes Merger With Biotech...
Pono Capital Corp. (NASDAQ:PONO) disclosed in an 8-K filing this morning that its shareholders approved its combination with air mobility company AERWINS at a special meeting held on Friday, January 27. Holders of 12,412,861 common shares were present at the meeting and the deal was approved with 11,218,712 shares in favor of the transaction. The filing did not...