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The Latest SPAC News and Rumors: September 6, 2022
The Latest SPAC News and Rumors: September 6, 2022
by Marlena Haddad on 2022-09-06 at 11:35am

 


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

Latest SPAC News: Trump-tied SPAC drops after deal delay, Brazil’s Semantix ready to put money to work, and Australian Foreign Investment Board approves Metal’s acquisition


Trump-Tied SPAC Drops on Report It Can’t Get Deadline Push

Investors dumped shares of Digital World Acquisition Corp. (NASDAQ:DWAC), the blank-check firm set to merge with Donald Trump’s social media company, after a report said it failed to get enough support for an extension to complete the deal.

Executives at the special purpose acquisition company don’t expect to get enough shareholder support for a one-year extension to complete a deal with Trump Media & Technology Group, Reuters reported, citing people familiar with the matter. The shares fell as much as 21% to $19.70 on Tuesday, the lowest since the deal was announced in October, while warrants tied to the SPAC sank 17%.

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Amid SPAC Rout, Brazil’s Semantix Ready to Put Money to Work

Brazilian data software provider Semantix Inc. (NASDAQ:STIX) has seen its shares sink 60% since going public in early August after completing a merger with Alpha Capital, a special purpose acquisition company, amid a slump in the tech industry.

But with the $127 million that it raised in the process, it’s eyeing more acquisitions, looking to grow headcount and open a new office in the US in anticipation of a rebound for the beaten down sector, chief executive officer Leonardo Santos and board member Rafael Steinhauser said in an interview.

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Australian Foreign Investment Review Board Approves Metals Acquisition Corp’s Acquisition of the CSA Copper Mine

Metals Acquisition Corp. (NYSE: MTAL.U) (“MAC”) is pleased to announce that it has received approval from the Australian Foreign Investment Review Board (“FIRB”) of its proposed acquisition of the CSA Copper Mine (“CSA”), subject to customary tax and reporting obligations.

Metals entered into a definitive sale and purchase agreement to acquire the CSA Copper Mine from Glencore (LON:GLEN) earlier this year in March.

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Allwyn Entertainment Announces Withdrawal by Camelot Entities of Legal Challenge to Allwyn’s Selection as Preferred Applicant for UK National Lottery License 

As previously announced, in March 2022 the UK Gambling Commission selected Allwyn Entertainment Ltd, a subsidiary of Allwyn Entertainment AG, as its preferred applicant for the fourth license to operate the UK National Lottery.  The award of the license has been contested in a legal challenge.

On June 29, 2022, the court ruled to lift the automatic suspension preventing the UK Gambling Commission from entering into agreements with Allwyn Entertainment Ltd to commence the transition process.  That ruling was appealed by Camelot UK Lotteries Limited and Camelot Global Lottery Solutions Limited and International Game Technology plc, resulting in the suspension continuing.

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Livestreamer VivaFrei Signs Exclusive Deal with Rumble, Drops Youtube as Primary Platform

Rumble, the video-sharing platform, announced an exclusive partnership with David Freiheit, an accomplished attorney and successful content creator on YouTube.

The partnership will include exclusive livestreams on Rumble an average of four times per week, including VivaFrei’s popular Sunday show. At the end of August, his YouTube channel boasted over 540,000 subscribers, who can find a new home on Rumble with the exclusive partnership.

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Recent Posts
by Kristi Marvin on 2022-11-28 at 8:27pm

Considerations for Creating Shareholder Value in a Volatile Market   Join us for a virtual panel on December 14, 2022 The current trends of rising interest rates and inflationary cost increases, among other things, have imposed downward pressures on publicly traded equity prices, especially for businesses that became publicly traded via a de-SPAC merger. Please...

by Marlena Haddad on 2022-11-28 at 12:02am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News:  Virgin Galactic appoints new top lawyer, Trump Media SPAC rises after investors approve merger deadline extension, and Al Maadeed to be first Qatari to list company on NYSE Virgin Galactic, Preparing for Liftoff,...

by Nicholas Alan Clayton on 2022-11-25 at 2:31pm

PMV Consumer (OTC PINK:PMVC) announced that it is redeeming all non-insider public shares for approximately $10.09 per share, but it will not be dissolving just yet. The SPAC is set to provide written redemption notices to each shareholder and trust proceeds are to be distributed within 30 days of these notices. PMV Consumer will then...

by Marlena Haddad on 2022-11-25 at 11:02am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Ex-Marvel chief takes the wheel at Arrival, Paysafe plans reverse stock split, and Dave Inc. to pursue a bank charter Founder of troubled electric van maker Arrival steps aside as CEO The founder...

by Nicholas Alan Clayton on 2022-11-25 at 7:31am

Digital World (NASDAQ:DWAC) announced late Wednesday that its shareholders have approved amending its charter to allow for automatic three-month extensions of its transaction deadline until September 8, 2023. This brings to close a long drama during which Digital World adjourned the vote without concluding business six times at different meetings in September, October and November....

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