Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Southland awarded $102M from Louisiana Dept. of Transportation, REE lays off 11% of team
Southland Awarded $102 Million Louisiana Department of Transportation and Development Nelson Road Extension and Bridge Project
Southland Holdings, LLC announced today that a subsidiary in its Transportation segment, Johnson Bros., has been awarded a $102 million contract to construct the Nelson Road Extension and Bridge for the Louisiana Department of Transportation and Development in Lake Charles, Louisiana.
On May 25th, 2022, Southland entered into an Agreement and Plan of Merger with publicly-traded Legato Merger Corp. II, a special purpose acquisition company (NASDAQ: LGTO, LGTOU, and LGTOW).
READREE laying off 11% of team after losing 95% of market cap
Israeli auto-tech company REE Automotive notified its employees on Thursday that it will be laying off 31 team members, accounting for 11% of the workforce. REE is still not generating revenue and as of the end of September 2022 had $185 million left in its account after losing $100 million in the first nine months of the year.
Ares Acquisition Corporation II (NYSE:AACT) filed its S-1 yesterday afternoon for a $400 million IPO, marking the second SPAC to file for an IPO in March and the largest since December 20, 2021, when Gores Holdings X Inc. filed for a $725 million SPAC. Ares II intends to focus its search on an established target...
Latest SPAC Liquidations: TCV Acquisition Corp. TCV Acquisition Corp. (TCVA) to Liquidate on April 13 TCV Acquisition Corp. (Nasdaq: TCVA) announced that it intends to dissolve and liquidate. It will redeem all of the outstanding Class A ordinary shares that were included in its initial public offering at a per-share redemption price of approximately $10.24. As...
DiamondHead Holding Corps. (NASDAQ:DHHC) announced that it has closed its combination with Great Southern Homes and the combined company will be renamed United Homes Group. The deal was approved by shareholders during a meeting last Thursday, and only 109,426 shares were redeemed in connection with the vote, but DiamondHead saw about 87% redemptions in total...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Volta sued over SPAC deal, Liberty Resources establishes M&A Transition Taskforce, and chancery validates SPACs’ charter amendments and share issuances Volta Sued Over SPAC Deal as $169M Shell Sale Is Approved An investor sued...
Maxpro Capital (NASDAQ:JMAC) announced that it has closed its combination with clinical-stage biotech firm Apollomics and the combined company’s shares and warrants are to begin trading today on the Nasdaq under the symbols “APLM” and “APLMW”, respectively. Apollomics is set to receive $21.35 million in proceeds from a PIPE that Maxpro announced in February and...