Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Boost Mobile founder wants to buy back service, Lavoro partners with Pattern Ag to predict crop risks, and Starry Group lays off half of staff
Boost Mobile Founder Wants to Buy Back Service, Prevent Deal by Dish
The founder of Boost Mobile wants to buy the wireless service back and keep current owner Dish Network Corp. (NASDAQ:DISH) from merging it with blank-check company Conx Corp. (NASDAQ:CONX), which is controlled by Chairman Charlie Ergen.
Australian Peter Adderton said by phone from Sydney on Thursday that he’s preparing a bid for Boost and has talked to at least one major private equity shop about financing the deal. He’s been trying to get the business back since he first sold it to Nextel in 2003.
Adderton plans to make the Dish board members aware of his interest before they approve the SPAC merger plan. The Conx board is awaiting a decision from Dish before they go ahead with a vote on Oct. 31 to extend the Boost discussions.
READLeading Brazilian ag inputs retailer Lavoro and soil metagenomics leader Pattern Ag launch exclusive partnership to predict crop risks and nutrient deficiencies for farmers in Brazil
Lavoro, Brazil’s largest agricultural inputs retailer, announced today a multi-year partnership with soil metagenomics and digital agronomy leader Pattern Ag to offer farmers in Brazil a groundbreaking service that will predict crop risks and nutrient deficiencies and offer specific product recommendations through a personalized software experience.
Lavoro announced in September its intent to become the first US-listed pure-play Latin American agricultural inputs retailer through a business combination with The Production Board’s (“TPB”) Special Purpose Acquisition Company, TPB Acquisition Corporation I (“TPB Acquisition Corp”) (Nasdaq: TPBA).
READStarry Group Slashes Jobs
Faced with dwindling cash on its balance sheet, a tough environment for raising capital, and a falling stock price, home-internet start-up Starry Group Holdings (NYSE:STRY), which merged with FirstMark Horizon Acquisition Corp., is battening down the hatches. That means laying off half its staff, slowing its network expansion, cutting discretionary spending, and withdrawing 2022 guidance.
Starry also released third-quarter operating metrics on Thursday showing that the business works—it just can’t grow without raising additional capital.
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At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...