Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lordstown nears deal to sell Ohio car factory to Taiwan’s Foxconn; Palihapitiya says SPAC slowdown separated ‘wheat from chaff’
Lordstown Nears Deal to Sell Ohio Plant to Taiwan’s Foxconn
Electric-truck maker Lordstown Motors Corp. (NASDAQ:RIDE) is near an agreement to sell its highly politicized Ohio factory to Taiwan’s Foxconn Technology Group, Bloomberg said.
The companies are set to announce the pact as soon as this week.
READPalihapitiya Says SPAC Slowdown Separated ‘Wheat From Chaff’
Venture investor Chamath Palihapitiya, whose huge bets on “blank check” acquisition companies earned him the moniker of “SPAC King,” said he remained bullish on the long-term health of such deals despite a recent slowdown.
The recent SPAC correction, after a boom that lasted several quarters, was needed to separate the “the wheat from the chaff,” Palihapitiya told CNBC in an interview on Wednesday.
Latest SPAC Liquidations: JAWS Hurricane JAWS Hurricane Acquisition Corporation (HCNE) to Liquidate on June 16 JAWS Hurricane Acquisition Corporation (Nasdaq: HCNE) today announced that its board of directors has determined not to proceed with a proposal to extend its corporate existence. As such, the Board has determined to cancel the special meeting of its stockholders,...
Jupiter Wellness Acquisition Corp. (NASDAQ:JWAC) announced this afternoon that it has completed its combination with Chinese carmaker Chijet. The deal was already approved by shareholders at a special meeting held on May 2, but at that time, the SPAC did not provide a timeline for the closing of the transaction. Although redemption numbers have still not...
The advent of summer is bringing nine lock-up expirations for de-SPAC’d companies and 10 on the sponsor side. The first change is to come for the sponsor of European Biotech Acquisition Corp., which closed its combination with Swiss pharma firm Oculis SA (NASDAQ:OCS) just three months ago. The sponsor is getting flexibility at a good...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Lucid to raise $3B in a common stock offering from Saudi owners, Betsy Cohen says SPACs will make a comeback, and SatixFy makes another leadership change Lucid Raising $3 Billion With More Money From...
An article on Bloomberg yesterday announced what many in SPAC Land have been wondering after UBS acquired Credit Suisse – where was Niron Stabinsky, the Head of SPACs at Credit Suisse, going to land? The answer is Banco Santander SA, in what appears to be a massive lift of most (or nearly all) of Credit...