Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Trump Media fires whistleblowers after sharing SEC complaint, Lavin Group revenue up 73% in 1H22, and Southland awarded $155M
Trump Media Fires Whistleblower After He Shares SEC Complaint Detailing Securities Violation
Trump Media & Technology Group (TMTG), which owns the Truth Social platform, lost no time in firing Will Wilkerson after he shared with the Washington Post a whistleblower complaint he filed with the SEC in August.
In the whistleblower complaint, the executive reportedly alleged that TMTG relied on fraudulent misrepresentations for raising money through a SPAC, in violation of federal securities laws.READ
Lanvin Group Revenue up 73% to €202 Million in First Half of 2022
Lanvin Group (the “Group”), a global luxury fashion group, today announced its financial results for the six-month period ended June 30, 2022. The Group plans to subsequently file an amendment to the registration statement on Form F-4 of Lanvin Group Holdings Limited, a company affiliated with the Group, reflecting these financial results with the Securities and Exchange Commission, in connection with its previously announced proposed business combination with Primavera Capital Acquisition Corporation (NYSE: PV), an affiliate of Primavera Capital Group, a leading global investment firm.
The Group’s performance in the first half of 2022 has been marked by an exceptional phase of growth, building on the strong momentum achieved in 2021. For the first six months of 2022, the Group recorded revenue of €202 million, representing industry-leading growth of 73% compared to the same period in 2021.READ
Southland Awarded $155 Million Elm Fork Water Treatment Plant Filter Complex in Dallas, Texas
Southland Holdings, LLC (“Southland”) announced today that a subsidiary in its Civil segment, Oscar Renda Contracting, has been awarded a $155 million contract to construct a water treatment plant filter complex for the City of Dallas.
The scope of work includes constructing a water filter complex, installing up to 11’ diameter water pipe, and connecting to the city’s existing treatment system. The water filter complex will connect to a 10’ diameter tunnel Southland recently finished boring for the City of Dallas on a separate project. Construction on the newly awarded project is expected to start by the end of 2022.
On May 25th, 2022, Southland entered into an Agreement and Plan of Merger (the “Agreement”) with publicly-traded Legato Merger Corp. II, a special purpose acquisition company (NASDAQ: LGTO).READ
Altitude Acquisition Corp. (NASDAQ:ALTU) announced this morning that it has signed a non-binding letter of intent (LOI) to combine with a global medical device manufacturer. The SPAC originally teased this deal on October 4, the same day as its redemption deadline, when it announced it was in negotiations to sign a LOI with the medical device...
InterPrivate II (NYSE:IPVA) disclosed this morning that its shareholders have approved its business combination with car-sharing marketplace Getaround during a special meeting held on Wednesday, December 7. The combined company raised approximately $228 million in gross proceeds through the deal, including the amounts retained in InterPrivate II’s trust account, the conversion of approximately $37.5 million of...
10X Capital Venture Acquisition Corp. III (NYSE:VCXB) included in an 8-K this morning that it has signed a non-binding letter of intent (LOI) to combine with Sparks Energy. Sparks is a leader in storm response and energy restoration management with qualified crews for overhead and underground distribution, transmission, substation and row operations. However, the 8-K mainly...
Figure Acquisition Corp. I (NYSE:FACA) announced this morning that it has signed a non-binding letter of intent (LOI) to combine with an unnamed warehouse lender and bank holding company. The press release kept details to a minimum on the target, but disclosed that the bank is a $3-5 billion asset holding company that provides home loans...
In this series we’ll be examining successful SPAC deals from the past both in the terms and circumstances of their de-SPAC processes and how they have weathered the storms that have followed after their public listings with research from SPACInsider contributors Anthony Sozzi and Sam Beattie. The year was 2019. The volume of SPAC news...