Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Ouster and Velodyne agree to merger, DWAC gains as investors leap at presidential bid, and Polestar gets $1.6B boost from Volvo
Ouster and Velodyne agree to merger, signaling consolidation in lidar industry
Ouster (NYSE:OUST) and Velodyne (NASDAQ:VLDR), two lidar companies, have agreed to a merger in an all-stock transaction, the companies said Monday. Both Ouster and Velodyne will maintain a 50% stake in the new company, according to the agreement that was signed on November 4.
The merger comes as many in the industry, including autonomous vehicle technology company Cruise’s CEO Kyle Vogt, have been expecting another round of consolidation in the lidar space.
That’s in part because there are too many lidar companies for how many OEMs are implementing the sensor for autonomous driving applications. It’s also because many of these companies, including Ouster and Velodyne, went public via special purpose acquisition at potentially inflated valuations that were based on projected revenue, not actual revenue
READTrump-Tied SPAC Gains as Investors Leap at Presidential Bid
Investors snapped up shares of Digital World Acquisition Corp. (NASDAQ:DWAC), the blank-check firm set to merge with Donald Trump’s social media company, after the former president hinted at plans to make another bid for the White House.
The special-purpose acquisition company rallied as much as 31% to the highest since September in heavy trading on Monday. Warrants tied to the SPAC surged 53%, while Phunware Inc. (NASDAQ:PHUN), a software company that worked on Trump’s re-election campaign, jumped 19%.
READPolestar gets a $1.6 billion boost from Volvo, another major stakeholder
Polestar (NASDAQ:PSNY) said Thursday it had secured $1.6 billion in funding from its two major shareholders to help it achieve its growth plans in volatile markets.
Volvo, which co-founded the brand with China’s Geely in 2017, said it would provide an $800 million loan to the company. The other major shareholder, PSD Investment, will provide the same amount through “direct and indirect financial and liquidity support,” Polestar said.
Volvo, which owns just over 48% of Polestar, said the loan included options for Volvo to convert some of its loans into equity in a possible future capital increase by Polestar.
In June, Polestar was listed on Nasdaq through a merger with a SPAC.
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Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...
This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...
At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...