At the SPAC of Dawn

Much has been written about Digital World‘s (NASDAQ:DWAC) epic and at times seemingly quixotic journey to complete its combination with Trump Media and Technology Group (TMTG) including, of course, here at SPACInsider.

In a week where the SPAC revealed new internal divisions and cash availability concerns, it unexpectedly announced late last night that the SEC has declared its most recent S-4 effective. This was Digital World’s seventh draft and many were beginning to wonder if it would be possible to get the deal over the finish line before deal announcement itself turned three years old.

But, within the next two days, Digital World aims to put a completion vote on the calendar.

Today is also the last day to vote for which underwriter you believe will price the most SPAC IPOs in 2024. Record your prediction HERE.

Deals and Funding

• Swiftmerge (NASDAQ:IVCP) has mutually terminated its combination with HDL Therapeutics. It has not yet announced whether it aims to seek out an alternative deal with its transaction deadline coming up on March 15.

News and Rumors

• Verge: SpaceX successfully launched Intuitive Machine’s (NASDAQ:LUNR) a rocket carrying Nova-C lander from Cape Canaveral early this morning. Nova-C hopes to complete the first American landing on the Moon since 1972. Intuitive Machines combined with Inflection Point in February 2023.
• JD Supra: The Southern District of New York has dismissed a class action suit against Lottery.com (NASDAQ:LTRY) alleging that its managers and those of Trident, which took it public in October 2021 made material misrepresentations about the business.
• PR: Atlantic Coastal (NASDAQ:ACAH) as decided it will not appeal recent Nasdaq delinquency reports and will be delisted beginning February 23.

Closings

• Semper Paratus (NASDAQ:LGST) has closed its combination with Tevogen Bio and the combined company’s shares and warrants will begin trading on the Nasdaq today under the symbols “TVGN” and “TVGNW”.
• Phoenix Biotech (NASDAQ:PBAX) has closed its combination with CERo Therapeutics and its shares will begin trading on the Nasdaq today under the symbol “CERO”.
• Flame (NYSE:FLME) has closed its combination with Sable Offshore and the combined company’s shares and warrants are expected to begin trading on the NYSE today under the symbols “SOC” and “SOC.WS”.

Liquidations

• Lancadia IV (NASDAQ:LCA) will liquidate effective February 27 and return its trust funds to investors at a redemption rate of $10.56 per share. Each of the preceding three Landcadia SPACs completed deals between 2018 and 2021.