Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Nikola announces collaboration with Plug Power, Lanvin Group scouts for buys and opens stores, and Lucid recruits for staff in China
Nikola and Plug Announce Strategic Collaboration to Push Hydrogen Economy Forward
Nikola Corp. (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, and Plug Power (Nasdaq: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, today announced a strategic relationship focused on moving the hydrogen economy forward.READ
Lanvin Group to open stores, hunt buys after U.S. SPAC listing
Chinese luxury fashion conglomerate Lanvin Group (NYSE:LANV), owner of the eponymous French fashion brand, said it is scouting for buys and will open new stores, after a New York SPAC listing on Thursday that raised $150 million and valued it at $1.31 billion.
The amount raised is far lower than the $544 million that the group, owned by China’s Fosun International, said in March it hoped to raise from the listing via a special purpose acquisition company set up by Primavera Capital.READ
US Electric Carmaker Lucid Motors Is Hiring in China
Lucid Motors (NASDAQ:LCID) is recruiting staff in China, after the US electric vehicle maker kicked off a plan to enter the Chinese market as early as next year.
Lucid Motors recently posted job adverts on a Chinese social media platform for positions including software and localization engineers, public policy and legal counsels, and others in the digitalization, logistics, supply, and residential charging product fields. The New Jersey-based firm hired a human resources head for China in May.READ
Arqit Quantum Ditches Plan for Quantum Satellites
Arqit Quantum (NASDAQ:ARQQ) is canceling its plans to build quantum satellites, announcing Wednesday its software technology has progressed and it no longer needed its own in-space assets.
Arqit, based in the United Kingdom, is a company that focuses on quantum encryption. Its software QuantumCloud creates encryption keys for zero trust security. The company went public in September through a special purpose acquisition company merger.
The company had plans to launch a network of satellites to create and transmit the quantum keys, but did not announce its manufacturer.READ
Trailblazer Merger Corporation I priced its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “TBMCU” Wednesday, March 29, 2023. The SPAC intends to focus its search on companies operating in the technology industry in the following segments: cloud as a service, supply chain technologies, servicing the hybrid workforce...
Alpine (NYSE:REVE) announced this afternoon that it has again adjourned its special meeting to complete its transaction with experiential entertainment company Two Bit Circus. The SPAC originally intended to hold its special meeting on February 24, but has adjourned it four times since then. Alpine now expects to reconvene the meeting on March 30 at 12:00 p.m....
Home Plate Acquisition Corporation (NASDAQ:HPLT) announced that it adjourned its extension vote today and will reconvene the special meeting at 10:30 am ET on March 30. At the upcoming meeting, the SPAC hopes to gain shareholder approval to extend its completion deadline from April 4, 2023, to October 4, 2023. Home Plate announced a $214 million business combination with...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Ares considers raising $400M for new SPAC and electric air mobility division of AIRO and Kernel Group sign MOU with Blade India Ares Considers New $400 Million SPAC Despite Market Lull Ares Management Corp....
DiamondHead Holding Corps. (NASDAQ:DHHC) announced in an 8-K this morning that it has entered into subscription agreements with lock-up investors and PIPE investors in connection to its business combination with Great Southern Homes. Although the deal was approved by shareholders during a meeting last Thursday, the parties are still working to raise funds to meet...