Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lucid’s sedan confirmed as longest-range EV, air-taxi startup Lilium generates 29-fold return on Atomico bet, and Spire Global acquires exactEarth
Lucid’s Debut Sedan Awarded 520-Mile EPA Rating, Eclipsing Tesla
Electric vehicle maker Lucid Group (NASDAQ:LCID) says a version of its debut sedan has been confirmed as the longest-range EV ever rated by the U.S. Environmental Protection Agency.
Lucid said the EPA awarded a version of its battery-electric Air Dream Edition with an official rating of 520 miles of range. This eclipses Tesla Inc.’s (NASDAQ:TSLA) highest range model — the S, which has an EPA-estimated range of 405 miles. Lucid plans to build fewer than 500 cars with these specifications, however, and they’ll cost $169,000.
READAir-Taxi Startup Lilium Generates 29-Fold Return on Atomico Bet
Lilium’s sale to a blank-check company this week generated a 29-fold return on early investor Atomico’s initial investment, an extraordinary outcome for its bet on the German air-taxi startup that hasn’t had a commercial launch yet.
Atomico invested an initial 10 million euros ($11.8 million), helping Lilium fund the development of its jet and add staff. It was the only venture capital firm to participate in the company’s Series A fundraising in 2016. Atomico then invested in subsequent rounds and now holds more than 13% of the business.
Former General Motors Co. executive Barry Engle’s SPAC, Qell Acquisition Corp. (NASDAQ:QELL), agreed to buy Lilium in a deal that valued the combined company at about $3.3 billion.
READSpire Global to Acquire exactEarth
Spire Global, Inc. (NYSE: SPIR), a leading provider of space-based data, analytics and space services, and exactEarth Ltd. (TSX: XCT) announced on Tuesday that the companies have entered into a definitive arrangement agreement under which Spire will acquire exactEarth for approximately US$161.2 million in cash and stock, which implies ~9.1x exactEarth’s Enterprise Value to LTM revenue.
Once completed, exactEarth will become a fully owned subsidiary of Spire and continue to operate from Cambridge, Ontario, Canada under the leadership of exactEarth’s CEO Peter Mabson, reporting directly to Spire CEO Peter Platzer.
Spire Global completed its combination with NavSight on August 13. SPIR is currently up 26.28% at $12.30 on the day thus far following the news.
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Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...
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....