Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Trump-tied SPAC, Rumble show power of hardcore followers, but DWAC slides after Elon Musk revives Twitter deal; Everton FC draws takeover interest from Soros nephew’s SPAC
Trump-Tied SPAC, Rumble Show Power of Hardcore Followers
Legions of followers betting on conservative social-media platforms have helped stocks like Rumble Inc. (NASDAQ:RUM) and the blank-check firm, Digital World (NASDAQ:DWAC), taking Donald Trump’s media company public to outperform peers, a sign that speculative fervor in the market is still high.
The pair are, respectively, one of the best performers this year among firms that merged with a special-purpose acquisition company and the top-gaining SPAC since listing that hasn’t yet completed a combination. That outperformance — at a time when shares of established social-media companies mostly are in free fall — has been fueled in part by retail traders.
READTrump SPAC shares slide after Elon Musk revives deal to buy Twitter
Shares of Digital World Acquisition Corp. (NASDAQ:DWAC), the special-purpose acquisition company seeking to take Trump Media and Technology Group public, slid Tuesday after Elon Musk reversed course and proposed going through with his deal to buy Twitter (NYSE:TWTR).
Shares of DWAC fell more than 5% Tuesday to $17.10. The stock’s 2022 peak was about $97 in March.
READEverton FC Draws Takeover Interest From Soros Nephew’s SPAC
Everton FC is drawing takeover interest from a US special purpose acquisition company co-led by George Soros’s nephew, according to people familiar with the matter.
LAMF Global Ventures Corp. I (NASDAQ:LGVC) has held preliminary talks with the English Premier League football club about a deal.
LAMF is led by Jeffrey Soros and Simon Horsman, both Los Angeles-based producers. It counts veteran football dealmaker and former Everton director, Keith Harris, as a senior adviser, securities filings show. It raised $253 million in a November 2021 initial public offering.
Truth Social Android App Available in the Samsung Galaxy Store
Trump Media & Technology Group (“TMTG”) announced today that the Truth Social Android App is now available for U.S.-based Samsung smartphone users to download in the Samsung Galaxy Store. The inclusion of Truth Social in the Samsung Galaxy Store represents a major milestone for Truth Social’s availability in the United States, as Samsung commands a 30 percent share of the domestic smartphone market, according to publicly available data.
READAGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...