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.


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...
Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...
Exciting new things are coming for SPACInsider subscribers, and some have already arrived! This summer, SPACInsider is unveiling the SPACInsider Alerts App on iOS with an Android launch soon to follow. The app allows subscribers to stay ahead of the SPAC market with real-time, customizable filing alerts with instant notifications landing the moment that a...
At the SPAC of Dawn Futures are largely green with the CPI reading coming up, and several SPACs and de-SPACs have cause to feel bullish regardless of what the reading states. Pharma and beauty company Longevity Health (NASDAQ:XAGE) announced it will acquire plasma collection firm True Health ahead of market open in news that has...
Silver Pegasus Acquisition Corp. (NASDAQ:SPEGU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SPEGU”, Tuesday, July 15, 2025. The new SPAC plans to search within the technology sector, with a focus on semiconductors and systems solutions. Silver Pegasus Acquisition Corp.’s management...