Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Universal Entertainment execs blamed for failed SPAC merger, DWAC names Eric Swider as new CEO, and Ocean Biomedical’s vaccine candidate demonstrates broad potential to address malaria
Universal Entertainment Executives Blamed for Failed SPAC Merger
Executives at Japan’s Universal Entertainment Corp. spent much of the past year coming up with creative ways to scuttle the $2.6 billion merger of their Okada Manila casino resort unit with a blank-check company, a former partner in the deal told a US judge.
Jason Ader founded 26 Capital Acquisition Corp., a special-purpose acquisition company, which agreed to combine with the Okada resort to give it a NASDAQ stock listing. But Ader, whose firm sued to revive the failed deal, testified Monday that Universal started working to sabotage the Philippines casino transaction starting in 2022. Universal declared the merger dead on June 30.
READTrump-tied SPAC Digital World names Swider as permanent CEO
Digital World Acquisition (NASDAQ:DWAC) has named Eric Swider as CEO, handing the interim boss reins of the blank-check company that is looking to complete its planned merger with former U.S. President Donald Trump’s media and tech company.
The move comes nearly four months after the special-purpose acquisition company (SPAC) ousted CEO Patrick Orlando, saying that a new management team was needed to tackle “unprecedented headwinds”.
READOcean Biomedical’s mRNA-based Vaccine Candidate Generates Over 90% Killing of Malaria Parasites in Non-human Primates, Demonstrating Broad Potential for Ocean’s Program to Address Global and Emerging U.S. Malaria Challenges
Ocean Biomedical, Inc. (NASDAQ:OCEA) a biopharma company working to accelerate the development of compelling discoveries from top research scientists, announced today that it is focusing its multi-pronged malaria program to address the chronic malaria crisis in sub-Saharan Africa while recognizing newly emerging global malaria challenges.
Based on discoveries by Scientific Co-founder, Jonathan Kurtis, MD, PhD, Ocean Biomedical is working on a multivalent mRNA-based malaria vaccine with potential to target several stages in the malaria cycle.
At the SPAC of Dawn During a week in which rare earth mining and space de-SPACs have seen major gains, another blast from the past is making serious waves in the market. EV battery developer QuantumScape (NYSE:QS) rose to a 52-week high of $13.79 yesterday and is cruising even higher in the pre-market. The company...
Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...
At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...