Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Pershing Square asks judge to toss investor suit; Aurora appoints trucking expert to its Safety Advisory Board
Ackman’s Pershing Square SPAC Asks Judge to Toss Investor Suit
Bill Ackman’s Pershing Square Tontine Holdings Ltd. (NYSE:PSTH) said a federal judge should throw out a lawsuit from a shareholder who alleges that the SPAC is operating illegally as an investment company, reported Bloomberg Law.
The claims should be tossed because the purpose of a SPAC is only “to effect a business combination, not manage a portfolio of investment securities,” Pershing Square Tontine said in a letter to the judge on Friday. SPACs like PSTH are “fundamentally distinct” from investment companies and have to choose assets that are cash equivalents that “do not materially fluctuate in value and are held in trust,” the firm said.
READAurora Welcomes Trucking and Freight Expert to Company’s Safety Advisory Board
The self-driving company Aurora is welcoming freight and trucking safety expert Karen Rasmussen to its Safety Advisory Board, further strengthening its steadfast commitment to delivering its technology to market safely.
Aurora, which announced earlier this summer its plans to merge with Reinvent Technology Partners Y (NASDAQ: RTPY), expects to be listed on Nasdaq with the ticker symbol AUR on November 4.
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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...
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....