Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: VinFast posts deeper loss in Q1, LanzaJet and LanzaTech selected by Air New Zealand to undertake sustainability study, and Abacus Life continues to expand market share
VinFast posts deeper loss in Q1, eyes July completion of SPAC merger
Vietnamese electric vehicle (EV) maker VinFast has reported a drop in first-quarter revenue by 49%, with a net loss deepening to $598 million in the first full reporting period since it started exporting to the United States.
VinFast made the disclosure in a filing late on Thursday with U.S. securities regulators as it looks to complete a merger with a blank-check company next month that will value the automaker at $23 billion.
The automaker, which had filed earlier for a U.S. initial public offering, announced last month it would go public through a merger with special purpose acquisition company Black Spade Acquisition Co.
LanzaJet And LanzaTech Selected By Air New Zealand and New Zealand Government to Undertake Study for Domestic Sustainable Aviation Fuel Production in New Zealand
LanzaJet, a leading sustainable fuels technology company and sustainable fuels producer, LanzaTech Global, Inc. (Nasdaq: LNZA), an innovative carbon capture and utilization (“CCU”) company that transforms waste carbon into materials such as sustainable fuels, fabrics, packaging, and other products that people use in their daily lives, today announced they have been selected by Air New Zealand and the New Zealand Ministry for Business, Innovation, and Employment (MBIE) to support the second stage of a study to determine commercial viability and sustainability of domestic sustainable aviation fuel (SAF) production in New Zealand.
READAbacus Life Continues to Expand Market Share in Life Settlement Payouts
Abacus Settlements, LLC (d/b/a Abacus Life) and Longevity Market Assets, LLC, a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, announced today that according to financial publication The Deal, the Company continued to expand its market share in the life settlement industry and remained a leader in life settlement payouts in 2022, bringing premier value to its clients. The Deal report evaluates life settlement providers based on the number of policies purchased and value.
As previously announced on August 30, 2022, Abacus entered into a definitive business combination agreement with East Resources Acquisition Company (NASDAQ: ERES).
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Athena Consumer Acquisition Corp. (NYSE:ACAQ) announced this afternoon that its stockholders approved its combination with German EV-maker e.GO at a special meeting held earlier today. Additionally, Athena Consumer’s warrant proposal to convert all outstanding warrants to 0.175 shares in the combined company was also approved. A total of 884,880 shares of Athena Class A Common...
October is set to be a quiet month for lock-up expirations with only four de-SPACs and four sponsors now open to trade their shares for the first time. The first customer is Bitdeer Technologies. Its shareholders and the Blue Safari sponsor both stand to gain the most out of this group from moving some of...
Graf Acquisition Corp. IV (NYSE:GFOR) announced in an 8-K this afternoon that its shareholders approved its combination with NKGen Biotech at a special meeting September 25. A total of 3,386,528 shares were redeemed in connection with the vote, leaving Graf IV with about $27.6 million in the tank and a final redemption rate of 84.3%....
Anzu Special Acquisition Corp I (NASDAQ:ANZU) has closed its combination with Envoy Medical and its shares and warrants are to begin trading on the Nasdaq under the symbols “COCH” and “COCHW” on October 2. The SPAC secured shareholder approval on September 27 and still has not divulged redemption figures. But, it went into the vote...
Mercato Partners (NASDAQ:MPRA) closed its combination with Brazilian software firm Nuvini this afternoon and its shares and warrants are expected to begin trading on the Nasdaq under the symbols “NVNI” and “NVNIW” on October 2. The combined company will continue to be led by its existing CEO and a seven-member Board including Mercato CEO Dr....