The Latest SPAC News and Rumors: September 29, 2022
by Marlena Haddad on 2022-09-29 at 11:34am

 


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Polestar teases new details about electric SUV, Gogoro secures $345M loan, and Jupiter Wellness announces application for dual listing on Upstream


Polestar teases new details about its electric SUV ahead of October 12th launch

The Polestar 3, the aptly named third vehicle from the Swedish EV company, will be officially unveiled October 12th at an event in Copenhagen, the company announced. Ahead of the launch, Polestar (NASDAQ:PSNY) is teasing a few new details about the all-electric SUV.

The Polestar 3 marks Polestar’s attempt to break into the highly competitive and highly lucrative SUV market in the US. When it comes out, it will slot into the premium category, putting it in competition with EVs like the Tesla Model X, Audi E-tron, Mercedes-Benz EQE, Rivian R1S, and Fisker Ocean. Notably, the Polestar will be assembled at Volvo’s factory in Charleston, South Carolina, giving it the distinction of being the company’s first EV made on US soil.

Polestar went public this summer by merging with Gores Guggenheim.

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Battery-swapping SPAC Gogoro secures $345M loan 

Taiwanese battery-swapping company Gogoro (NASDAQ:GGR) has signed a $345 million five-year credit facility agreement in order to increase liquidity among uncertain economic conditions.

The loan comes from a group of 10 syndicated banks led by Mega International Commercial Bank Co., according to a regulatory filing.

Gogoro will use the funds to pay off an existing facility, secure energy cells for its batteries, support operations in Taiwan and provide working capital as needed, according to a company spokesperson.

Gogoro went public via a merger with Poema Global in April.

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Jupiter Wellness Announces Application for Dual Listing on Upstream

Jupiter Wellness, Inc. (Nasdaq:JUPW), a wellness company focused on hair loss, eczema, burns, and sexual wellness announced that it has begun the application process to dual list its shares on Upstream, the revolutionary trading app for digital securities and NFTs powered by Horizon Fintex and MERJ Exchange Limited.

The planned dual listing on Upstream is designed to provide Jupiter Wellness the opportunity to access a global, digital-first investor base that can trade using USDC digital currency along with credit, debit, PayPal, and USD, unlocking liquidity and enhancing price discovery while globalizing the opportunity to invest in NASDAQ-listed Jupiter Wellness.

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Cathie Wood’s Ark is buying stock in space SPAC Rocket Lab

Cathie Wood’s Ark Invest is dipping back into a space SPAC, with two of the firm’s funds buying up stock in Rocket Lab (NASDAQ:RKLB) the past two days.

Ark’s exchange-traded funds ARKQ and ARKX – which focus on autonomous technology and space exploration, respectively – bought about 729,000 shares of Rocket Lab in trades on Monday and Tuesday, the firm disclosed.

Rocket Lab stock was up 3% in trading on Wednesday from its previous close of $4.19 a share.

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