Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Cilo Cybin flops after failing to lure South Africa investors, DWAC wins shareholder support for one year extension, and Watersight adds global companies to AquaRing pilot program
Cannabis SPAC Flops After Failing to Lure South Africa Investors
Cilo Cybin Holdings Ltd., a South African medical cannabis company, abandoned plans for an initial public offering in Johannesburg after failing to attract enough investment.
The business, the first in South Africa to win the right to grow, process and package cannabis products, had planned to list as a special purpose acquisition company. The aim was to raise as much as 2 billion rand ($116 million), founder Gabriel Theron said earlier this year, yet investors offered to buy just 20.5 million rand of shares.
READTrump-Tied SPAC DWAC wins shareholder support for one year extension
Investors in the blank-check acquisition company that plans to merge with former U.S. President Donald Trump’s social media firm on Tuesday voted to approve an extension of the time Digital World Acquisition Corp has to complete a deal.
After several delays, enough shareholders agreed to give DWAC until September 2023 to finalize its plans, handing a victory to DWAC (NASDAQ:DWAC) and its chief executive Patrick Orlando who had spent months trying to woo shareholders into voting.
READWatersight Adds Global Companies to the AquaRing Water Monitoring Pilot Program
Watersight, a watertech joint venture company of MEKOROT, Israel’s national water company, and Newsight Imaging Ltd., a technology company that specializes in advanced CMOS image sensors for spectral analysis and machine vision, today announced the start of the field test at MEKOROT’s water monitoring facility in northern Israel alongside the addition of U.S. global companies to its pilot water monitoring program utilizing the AquaRing. The AquaRing is a smart water monitoring system, a complete real-time sensing device for online water condition monitoring for water, utility, and food & beverage industries.
On August 30, 2022, Newsight Imaging announced that it has entered into a definitive agreement to become publicly listed through a merger transaction with Vision Sensing Acquisition Corp. (Nasdaq: VSAC), a publicly traded special purpose acquisition company.
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Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....
1RT Acquisition Corp. (NASDAQ:ONCHU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ONCHU”, Wednesday, July 2, 2025. The new SPAC plans to target company in the digital asset ecosystem involved in the creation, storage, exchange or management of such assets, whether...
D. Boral ARC Acquisition II Corp. (NASDAQ:ARBCU) has filed for a $250 million SPAC to give underwriter D. Boral a second in-house SPAC to pursue deals with. The new SPAC offers investors a 1/2 warrant and an initial 18-month time frame to complete a deal. D. Boral II’s sponsor may automatically extend this once by...
Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...