The Latest SPAC News and Rumors: June 9, 2023
by Marlena Haddad on 2023-06-09 at 11:35am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: DWAC rises in wake of Trump’s indictment, Senator Kennedy introduces SPAC Act to protect investors, and Abacus Life appoints new managing director


DWAC rises in wake of Donald Trump’s indictment

Shares of Digital World Acquisition Corp. (NASDAQ:DWAC), the SPAC looking to take Donald Trump’s Trump Social public, rose 0.9% in premarket trading Friday, after the former president said he’s been indicted in the federal investigation into classified documents. Trump has been summoned to appear in federal court on June 13. After Trump was found liable for sexual abuse and defamation on May 9, the SPAC’s stock rose 3.6%, and climbed 7.5% over three days to close May 11 at $13.93, before pulling back.

A merger with Digital World Acquisition and Trump Media & Technology Group has been in the works since October 2021.

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Kennedy introduces SPAC Act to protect investors by increasing transparency surrounding blank-check firms

Sen. John Kennedy (R-La.) today introduced the Sponsor Promote and Compensation (SPAC) Act, which would provide greater transparency for investors involved with Special Purpose Acquisition Companies (SPACs).

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Abacus Life Appoints New Managing Director 

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, today announced that Nicholas Sawuk has joined the Company as Managing Director.

Abacus Life has entered into a definitive merger agreement with East Resources Acquisition Corporation (NASDAQ: ERES) that will result in Abacus becoming a publicly listed company.

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Recent Posts
by Nicholas Alan Clayton on 2023-09-21 at 7:36am

Nabors Energy Transition Corp. (NYSE:NETC) announced this morning that Vast has added an equity commitment of up to $10 million to its combination with concentrated solar power producer Vast. The new commitment comes at $10.20 per share from the Canberra Airport Group and half of it is to come up front at close. A further...

by Nicholas Alan Clayton on 2023-09-21 at 7:08am

M3-Brigade III (NYSE:MBSC) announced this morning that it has closed its combination with Canadian energy producer Greenfire and the combined company is expected to trade on the NYSE under the symbol “GFR” later today. Concurrent with close, Greenfire also issued $300 million in new senior secured notes at a 2% discount, priced at $980 per...

by Kristi Marvin on 2023-09-20 at 5:51pm

Murphy Canyon Acquisition Corp. (NASDAQ:MURF) announced this afternoon that its stockholders voted in favor of the proposed business combination with Conduit Pharmaceuticals Limited (“Conduit”). Details on the vote, along with redemption numbers, have not been filed yet, but the Company expects the closing to occur as soon as practicable, subject to the satisfaction or waiver...

by Kristi Marvin on 2023-09-20 at 5:31pm

Latest SPAC Liquidations: Juniper II Corp. Juniper II Corp. (JUN) to Liquidate on October 10, 2023 Juniper II Corp. (NYSE: JUN), today announced that its board of directors has determined to redeem all of its outstanding shares of Class A common stock with such redemption anticipated to be effective as of October 10, 2023. The...

by Kristi Marvin on 2023-09-20 at 4:39pm

TradeUP (NASDAQ:UPTD) announced in an 8-K this afternoon that has entered into additional subscription agreements in connection with its combination with Estrella Biopharma. Under these subscription agreements, Plentiful Limited and Lianhe World Limited, collectively known as the “Investors”, agreed to each buy $5,000,000 worth of UPTD’s common stock, priced at $10.00 per share.  However, if,...

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