Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Dish in talks to merge Boost mobile-phone business with Conx Corp., Polestar unveils new electric SUV, and Truth Social now available in Google Play store
Dish in Talks With Ergen-Backed SPAC for Wireless Merger
Dish Network Corp. (NASDAQ:DISH) is in preliminary discussions on a complex deal to merge its Boost mobile-phone business with Chairman Charlie Ergen’s blank-check company.
Ergen’s Conx Corp. (NASDAQ:CONX), which went public in 2020, is seeking an extension from shareholders to complete a business transaction so it can keep pursuing the talks, according to a statement late Wednesday. A vote on an extension will take place on Oct. 31.
READPolestar unveils a new $84,000 electric SUV it’s hoping will help cement its foothold in the U.S.
Swedish EV maker Polestar (NASDAQ:PSNY) on Wednesday unveiled a new electric SUV that it’s counting on to expand its sales and presence in the United States.
The new model, called the Polestar 3, is a five-passenger EV that the company describes as a “performance SUV.” It’ll launch with a 111 kilowatt-hour battery and a dual-motor configuration that delivers up to 517 horsepower with an estimated 300 miles of EPA-rated range.
READTruth Social Android App Now Available in the Google Play Store
Today, Trump Media & Technology Group (“TMTG”) announced that the Truth Social Android App is available for users to download in the Google Play Store. With its inclusion in the Google Play Store, Truth Social can now be accessed across all devices in the United States.
TMTG CEO Devin Nunes said, “It’s been a pleasure to work with Google, and we’re glad they helped us to finally bring Truth Social to all Americans, regardless of what device they use. Today marks a significant milestone in our mission to restore free speech online.”
READNikola founder was a ‘con man,’ U.S. prosecutor tells jurors
A prosecutor on Thursday urged jurors to convict Nikola Corp (NASDAQ:NKLA) founder Trevor Milton of fraud, calling him a “con man” who lied about the low-emission vehicle company to defraud ordinary investors.
Federal prosecutors during closing arguments in New York said Milton deceived investors about the electric- and hydrogen-powered truck maker’s technology starting in November 2019. Milton left the company in September 2020 after a report by short seller Hindenburg Research called the company a “fraud.”
READRice II (NYSE: RONI) announced in an 8-K today that its shareholders have approved its combination with energy technology company NET Power with relatively low redemptions. In the end, 21,195,224 shares were redeemed in connection vote, removing 61% of Rice II’s trust. This is the second best result among the 32 deals that have come...
Trajectory Alpha (NYSE:TCOA) announced in an 8-K this morning that it has opted to postpone its June 8 extension vote to June 12 at 10 am ET. The SPAC will use this extra time to engage with shareholders at work to reverse redemption decisions. Trajectory Alpha’s team may still be getting acquainted with some major...
Tracking SPACs and all of their various types of “corporate actions” can be challenging. After all, a SPAC can postpone, adjourn, extend, complete, liquidate early, do a tender offer, and in some cases, one SPAC do all of those actions within its lifespan. Naturally, this can be challenging to manage. More importantly, it can very...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Byju skips payment on dollar loan and HNR affirms intent to purchase equity interests of Pogo Resources High-Flying Indian Startup Byju’s Skips Payment on Dollar Loan One of India’s best-known startups has skipped payment...
Avalon Acquisition Inc. (NASDAQ:AVAC) announced in an 8-K this morning that it has entered into a prepaid forward purchase agreement with RiverNorth SPAC Arbitrage Fund, the purchaser, as it works to close its combination with financial services firm The Beneficient Company, or Ben. As part of the agreement, RiverNorth agreed to effect certain purchases of shares...