Lucid Motors (NASDAQ:LCID) is finally giving a first look at its luxury all-electric Gravity SUV. New images released by the automaker Tuesday show off a spacious three-row interior with dual center seats that have leg rests that can recline and an exterior that features a swooping all-glass roof.
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Surf Air files for direct listing, Otonomo in talks to merge with UK auto-tech rival Wejo, and Forbes could sell for $800 million
Surf Air confidentially files for direct listing after ending SPAC deal
Electric aviation and regional air travel company Surf Air Mobility said on Wednesday it had confidentially filed for a direct listing in the United States after terminating its $1.42 billion merger deal with a blank check firm.
The deal with SPAC Tuscan Holdings Corp II (NASDAQ:THCA), which would have fetched Surf Air $467 million in cash proceeds, was called off mutually, the companies said.
READOtonomo in talks to merge with UK auto-tech rival Wejo
Two auto-tech companies, which began publicly trading after SPAC mergers last year, and have since lost most of their value, could be set for a merger. Israeli auto-tech company Otonomo Technologies (Nasdaq: OTOM) is in talks with its UK rival Wejo Group (Nasdaq: Wejo) about a possible merger, according to market sources.
If such a merger were to be completed, Otonomo would be valued at $150 million, significantly higher than its current market cap of just $52 million but 96% lower than its valuation of $1.26 billion, when its SPAC merger was completed in the summer of 2021.
READForbes bidding group includes SUN Group, GSV
After a chaotic path ended in a failed SPAC IPO earlier this year, Forbes Media is now in exclusive talks to sell to a consortium of investors that includes India-based SUN Group and GSV Ventures, Axios has learned, in a deal that could fetch around $800 million.
Prior to striking the SPAC deal, Forbes held talks with GSV and other potential buyers such as software firm Block.one. The Forbes bidding consortium includes SUN Group, a family-owned Indian investment firm led by vice chairman Shiv Khemka, and GSV Ventures, a U.S. based investment firm, according to a source familiar with the matter.
READLucid gives first look at its luxury Gravity SUV as it begins to deliver cheaper Air Touring EV
Gravity is the automaker’s second vehicle model to be revealed. In a press release, Lucid’s SVP of design Derek Jenkins says the company is “sparing no opportunity to build on everything we learned with Lucid Air,” the automaker’s luxury electric sedan and first vehicle.
Hints about Lucid’s SUV started as early as 2019 when then-chief technology officer Peter Rawlinson (now also CEO) told The Verge that plans for an SUV were “quite possible.” But the SUV would not get mentioned again until the company went public through a SPAC merger in 2021. At the time, the SUV was slated to be released in 2023.


Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...