The Latest SPAC News and Rumors: October 12, 2022
by Marlena Haddad on 2022-10-12 at 12:00pm


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News:  Delta invests $60M in Joby, Lavoro agrees to acquire NS Agro in expansion throughout Latin America, and Falcon’s Beyond announces details on new theme park


Delta invests $60M in air taxi company Joby Aviation 

Delta Air Lines has made an upfront equity investment of $60 million in Santa Cruz, Calif.-based Joby Aviation (NYSE:JOBY), which is developing electric vertical takeoff and landing (eVTOL) aircraft, the companies announced Tuesday.

Delta plans to use the new aircraft for home-to-airport transportation for its customers, beginning in New York and Los Angeles. The investment could increase to up to $200 million based on the achievement of milestones on the development and delivery of the service.

The companies did not state a beginning date for the service, but Joby has said it plans to launch air taxi service in 2024.

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Lavoro Agrees to Acquire NS Agro in Continued Expansion Throughout Latin America

Lavoro Group announced today an agreement to acquire agricultural supplies company NS Agro in a sustained expansion push throughout Latin America.

NS Agro is a holding company of agricultural inputs retailers in Chile and Peru, specializing in crop protection, fertilizers, seeds and specialty products. NS Agro is a leading independent ag inputs retailer in the region, with a coverage area extending to all of Chile’s farming zones.

Lavoro announced last month its intent to become the first US-listed pure-play Latin American agricultural inputs retailer through a business combination with The Production Board’s SPAC, TPB Acquisition Corporation I (NASDAQ:TPBA).

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Falcon’s Beyond Announces Details of the Caribbean’s First World Class Theme Park, Katmandu Park

Falcon’s Beyond Global, LLC, a leading fully integrated global entertainment development company specializing in intellectual property creation and expansion, announced today details of its forthcoming world-class theme park, Katmandu Park | Punta Cana. Expected to open early 2023 in the Dominican Republic, Katmandu Park, conceived and built by Falcon’s, will feature cutting-edge rides and attractions that immerse guests in the company’s original, proprietary franchise, The Hidden Realms of Katmandu.

On July 12, Falcon’s Beyond announced plans to become a publicly listed company on Nasdaq through a definitive merger agreement with FAST Acquisition Corp. II (NYSE: FZT), a special purpose acquisition company founded by Doug Jacob and headed by Sandy Beall.

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The Latest SPAC News and Rumors: October 12, 2022
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