Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lottery.com sued by investor, True Velocity partners with Bass Pro Shops, Cabela’s, and HomeToGo founder teases Modes launch in 2023
Lottery.com Sued by Investor Eyeing Challenge to Its SPAC Merger
An investor sued Lottery.com Inc. (NASDAQ:LTRY) over concerns that backers of its blank-check merger with a special purpose acquisition company deliberately pushed a disastrous deal because it gave them a windfall at the expense of public shareholders.
The lawsuit seeks internal files from Lottery.com to investigate claims that sponsors of the SPAC it merged with, Trident Acquisition Corp., kept investors in the dark about “foundational” flaws in the lotto company’s business model. The company’s stock has allegedly crashed 95% since the deal closed.
True Velocity Announces Strategic Partnership with Bass Pro Shops, Cabela’s
Texas-based ammunition manufacturer True Velocity announced a multi-year, strategic partnership with industry-leading outdoor retailer Bass Pro Shops. The partnership will bring True Velocity’s line of advanced composite-cased ammunition to more than 125 Bass Pro Shops Outdoor World and Cabela’s retail locations across the United States, and it will leverage co-branded marketing efforts to promote an online subscription service enabling customers to order ammunition directly to their doorstep at a discount off retail prices.
As previously announced on November 1, 2022, TV Ammo, Inc. (“True Velocity”) entered into a business combination agreement among Breeze Holdings Acquisition Corp. (NASDAQ: BREZ).
READHomeToGo founder Andrae teases Modes launch in 2023
Described as a “groundbreaking way to find and book accommodation”, Modes is set to offer a “hyper-curated vacation rental browsing experience completely based on unique interests”, according to Dr Andrae.
HomeToGo (ETR: HTG) may be seeking to follow the path of Airbnb by allowing its users to search for their desired vacation rental property according to their specific needs and preferences, including “one-of-a-kind” rentals, “legendary” rentals or properties that keep price top of mind for consumers.
Last September, HomeToGo completed its business combination with Lakestar SPAC I to begin trading publicly on the Frankfurt Stock Exchange.
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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...
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....