Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Wentworth appoints Larry Roth as Executive Chairman, James Murdoch and Uday Shankar veer away from SPACs
Wentworth Management names industry veteran Larry Roth as post-close Executive Chairman
Upon completion of the business combination, wealth management industry leader Larry Roth will become executive chairman of the newly created firm, named Binah. Current Wentworth President Craig Gould will serve as Binah’s CEO, and David Shane, industry veteran and former CFO with Sanctuary Wealth will become Binah’s CFO.
Mr. Roth has previously served as Chief Executive Officer of AIG Advisor Group and Chief Executive Officer of Cetera Financial Group, two of the largest independent wealth management enterprises in the country.
Wentworth announced a combination agreement with Kingswood Acquisition Corp. (OTCE: KWAC) in July. The parties expect to close the transaction in the first half of 2023. The news of Roth’s appointment was joined by the update that Kingswood has filed a new S-4 for the deal.
READJames Murdoch-Uday Shankar ditch SPAC route for their M&A ventures
Seven Islands Inc, a special purpose acquisition company (SPAC) sponsored by James Murdoch and former STAR India CEO, Uday Shankar, has decided to abandon its earlier plan to raise $300 million through an initial public offering (IPO) in the US.
Seven Islands will now make their investments through Bodhi Tree Systems.
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Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...