Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SEC leans on SPACs for detailed disclosures, Lordstown Motors appoints new CFO, and CompoSecure announces cryptocurrency product Arculus Key Card
SEC Leans on SPACs for Detailed Disclosures of Risk, Controls
Wall Street’s top regulator promises to issue new, tougher rules for SPACs, but the agency already has ramped up its scrutiny of the blank-check companies that became market sensations in 2020.
The SEC is questioning growth projections, asking for details about risks, and seeking more information about the internal controls of individual SPACs, according to comment letters it has sent to companies.
READElectric Truck Maker Lordstown Motors Names Adam Kroll as CFO
Electric-truck maker Lordstown Motors Corp (NASDAQ:RIDE) named Adam Kroll as chief financial officer, months after the departure of former CEO and finance chief following an internal investigation into claims made by a short-seller.
READCompoSecure Announces General Availability and Shipping of Its Arculus Key Card
CompoSecure, L.L.C., a leading provider of premium financial payment cards and emergent provider of cryptocurrency storage and security solutions, today announced it has begun shipping its Arculus KeyTM card, the next generation of cryptocurrency cold storage, which is combined with the Arculus WalletTM mobile app that is now available for a free download on iOS and Android app stores.
The Arculus solution uses 3-factor authentication and provides air-gapped protection (i.e., not connected to the internet at all) against hacking and theft, and is the size and shape of a metal credit card.
On April 19, CompoSecure entered into a definitive merger agreement to combine with Roman DBDR Tech Acquisition Corp. (NASDAQ:DBDR).
READIndustry-veteran Elisa Cascade Joins Science 37 as Chief Product Officer; Chris Ceppi Appointed Chief Technology Officer
Science 37, the Operating System for today’s more agile clinical trials, announced Elisa Cascade has joined Science 37 and its senior executive team as Chief Product Officer. Science 37 veteran Chris Ceppi has been appointed to serve as Chief Technology Officer.
LifeSci II shareholders approved its combination with Science 37 (NASDAQ:SNCE) on October 4.
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Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...