Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Cilo Cybin flops after failing to lure South Africa investors, DWAC wins shareholder support for one year extension, and Watersight adds global companies to AquaRing pilot program
Cannabis SPAC Flops After Failing to Lure South Africa Investors
Cilo Cybin Holdings Ltd., a South African medical cannabis company, abandoned plans for an initial public offering in Johannesburg after failing to attract enough investment.
The business, the first in South Africa to win the right to grow, process and package cannabis products, had planned to list as a special purpose acquisition company. The aim was to raise as much as 2 billion rand ($116 million), founder Gabriel Theron said earlier this year, yet investors offered to buy just 20.5 million rand of shares.
READTrump-Tied SPAC DWAC wins shareholder support for one year extension
Investors in the blank-check acquisition company that plans to merge with former U.S. President Donald Trump’s social media firm on Tuesday voted to approve an extension of the time Digital World Acquisition Corp has to complete a deal.
After several delays, enough shareholders agreed to give DWAC until September 2023 to finalize its plans, handing a victory to DWAC (NASDAQ:DWAC) and its chief executive Patrick Orlando who had spent months trying to woo shareholders into voting.
READWatersight Adds Global Companies to the AquaRing Water Monitoring Pilot Program
Watersight, a watertech joint venture company of MEKOROT, Israel’s national water company, and Newsight Imaging Ltd., a technology company that specializes in advanced CMOS image sensors for spectral analysis and machine vision, today announced the start of the field test at MEKOROT’s water monitoring facility in northern Israel alongside the addition of U.S. global companies to its pilot water monitoring program utilizing the AquaRing. The AquaRing is a smart water monitoring system, a complete real-time sensing device for online water condition monitoring for water, utility, and food & beverage industries.
On August 30, 2022, Newsight Imaging announced that it has entered into a definitive agreement to become publicly listed through a merger transaction with Vision Sensing Acquisition Corp. (Nasdaq: VSAC), a publicly traded special purpose acquisition company.
READ
Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...
At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...
Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...