Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Makara to proceed with IPO, flyExclusive faces hurdles on pandemic demand drop, and OriginClear’s Water on Demand signs MOU
Makara Announces Updating Form S-1 Registration Statement with Current Financial Statements for Planned IPO
Makara Strategic Acquisition Corp. (NASDAQ: MKAR) announced yesterday that Makara is proceeding with its IPO with EF Hutton. Makara has merely withdrawn its registration statement with the U.S. Securities and Exchange Commission to preserve its filing fees and intends to refile the S-1 with its latest, updated financial statements. This refiling of the S-1 with updated financial statements is a standard procedure.
Makara intends to proceed with its IPO imminently as it believes market conditions and opportunities in its target sector have also improved significantly.
READPrivate Jets, Hot off Pandemic Surge, Face New Hurdles and Fewer Customers
Jim Segrave’s biggest test yet may come this summer as he pushes forward with a public listing of flyExclusive Inc., which operates more than 90 private jets, through a special purpose acquisition company that values his business at $900 million.
Private flights in the US have declined from their pandemic highs, with takeoffs and landings dropping 4.5% in the first quarter from a year earlier. The drop accelerated to 9.3% in April compared with an 8.6% decrease in March.
Flexjet, the second-largest US operator of private jets behind NetJets Inc., shelved its SPAC listing last month, paying $30 million to call off the deal. Wheels Up Experience Inc.(NYSE:UP), which went public in 2021 via SPAC, has struggled to turn a profit even as sales have grown.
READOriginClear’s Subsidiary Water On Demand Signs MOU Regarding Acquisition of Established SaaS Developer
OriginClear Inc. (OTC Pink: OCLN), the Clean Water Innovation Hub™, announces that its subsidiary Water On Demand™ (WODI) recently entered into a Memorandum of Understanding (MOU) to acquire an established international SaaS (Software as a Service) Developer (Developer), founded nearly twenty years ago, which operates with a stable customer base of technology companies. The acquisition is anticipated to be accretive.
On January 5, 2023, Water On Demand, Inc. executed a Letter of Intent with Fortune Rise Acquisition Corporation (NASDAQ: FRLA) under which FRLA proposes to acquire all the outstanding securities of Water on Demand, Inc., based on certain material financial and business terms and conditions being met.
SMX’s Subsidiary trueGold Extends its Commercial Activity to a New Application Beyond Gold Bars and Coins to Watches and Jewelry
SMX (Security Matters) plc (NASDAQ:SMX) is pleased to announce that trueGold Consortium Pty Ltd., a 44.4% subsidiary of the Company, is extending its authentication, certification and verification tech solutions beyond gold bars and coins to gold watches and jewelry.
trueGold invisibly ‘marks’ the gold with a durable marker, that will allow the physical gold to have a complete and transparent memory of its journey from mine-to-marketplace, to recycle and reuse. Enabling an ethical gold supply chain assurance, to tangibly authenticate and provide irrefutable proof of the origination of gold for credible ESG reporting in real time.
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Cohen Circle Acquisition Corp. II (NASDAQ:CCIIU) announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CCIIU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company in the financial services technology (fintech) sector and fintech adjacent sectors that...
Indigo Acquisition Corp. (NASDAQ:INACU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “INACU”, Tuesday, July 1, 2025. The new SPAC plans to combine with an established, profitable company whose growth potential can benefit from its team’s expertise. Indigo’s management team is...
After a quiet June, July is set to be active throughout the month with nine de-SPACs and sponsors coming unlocked from their trading restrictions. This timing is most fortuitous for insurance investor Abacus Life (NASDAQ:ABL) and East Resources, which took it public in 2023, as it is the best performer of this group of companies...
Pyrophyte II (NYSE:PAII.U) has filed for a $175 million SPAC to dig for a natural resources target while the team’s first deal remains pending. The new SPAC is offering investors 1/2 warrants in each unit and it will have 24 months to complete a business combination without asking shareholders for an extension. It is the...
At the SPAC of Dawn The last day of the quarter is to play host to a pair of shareholder votes and a possible pricing of Indigo‘s (NASDAQ:INACU) $100 million IPO. This week is also to play host to fresh jobs numbers just before the long July 4 weekend. Black Hawk (NASDAQ:BKHA) was also one...