Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: US judge says Okada Manila does not have to close merger, and Lotus unveils electric sedan
US judge won’t order Philippine casino merger to close
The Philippines’ largest casino, owned by an affiliate of Japan’s Universal Entertainment Corp does not have to complete a SPAC merger deal with 26 Capital Acquisition Corp. (NASDAQ:ADER), a Delaware judge ruled on Thursday.
Vice Chancellor Travis Laster said the affiliate that owned Okada Manila did not have to complete the $2.5 billion deal 2021 merger in part because 26 Capital “engaged in conduct that should not be rewarded” by ordering the deal to close.
Lotus Unleashes Emeya, a Porsche Panamera-Like Electric Sedan
The next electric-vehicle maker poised to merge with a blank-check company will go public with some product momentum working in its favor.
Lotus, the British sports-car maker owned by China’s Geely, on Thursday unveiled the Emeya sedan, the first of three models it promised to show in three years after agreeing to combine with a special purpose acquisition company. In the investor presentation issued off the back of that deal, Lotus compared the Emeya to the Porsche Panamera.
Welsbach Technology Metals Acquisition Corp. (WTMA) to Discuss Non-Redemption Agreements Welsbach Technology Metals Acquisition Corp. (NASDAQ:WTMA) announced in an 8-K today that it intends to discuss signing non-redemption agreements of unspecified size with investors ahead of its September 28 extension vote. Any takers on the offer would receive additional shares in the company’s combination target...
Latest SPAC Liquidations: Iconic Sports Acquisition Corp. Iconic Sports Acquisition Corp. (ICNC) to Liquidate on October 11, 2023 Iconic Sports Acquisition Corp. (NYSE: ICNC), today announced that its board of directors has determined to redeem all of its issued and outstanding Class A ordinary shares, effective as of October 11, 2023. The Company anticipates that...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Conduit’s $1.2bn Nasdaq listing deals another blow to London A British biopharmaceuticals business has completed a deal to list on Nasdaq, delivering a further blow to the London Stock Exchange which has struggled to persuade fast-growing companies...
Mercato Partners (NASDAQ:MPRA) announced in an 8-K this morning that it has added an $11.1 million PIPE at $10 per share to its combination with Brazilian software firm Nuvini. The PIPE investors remain unnamed for now, but this move would cover the combination’s $10 million minimum cash condition. That eliminates some uncertainty as Mercato approaches...
Terms Tracker for the Week Ending September 22, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. SPACs finally saw two new S-1 filings this week, the first to file since August 24th. Hainan Sirius Acquisition Corp. filed first on Thursday and...