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The Latest SPAC News and Rumors: October 17, 2022
by Marlena Haddad on 2022-10-17 at 11:33am

 


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

Latest SPAC News: Trump Media fires whistleblowers after sharing SEC complaint, Lavin Group revenue up 73% in 1H22, and Southland awarded $155M


Trump Media Fires Whistleblower After He Shares SEC Complaint Detailing Securities Violation

Trump Media & Technology Group (TMTG), which owns the Truth Social platform, lost no time in firing Will Wilkerson after he shared with the Washington Post a whistleblower complaint he filed with the SEC in August.

In the whistleblower complaint, the executive reportedly alleged that TMTG relied on fraudulent misrepresentations for raising money through a SPAC, in violation of federal securities laws.

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Lanvin Group Revenue up 73% to €202 Million in First Half of 2022

Lanvin Group (the “Group”), a global luxury fashion group, today announced its financial results for the six-month period ended June 30, 2022. The Group plans to subsequently file an amendment to the registration statement on Form F-4 of Lanvin Group Holdings Limited, a company affiliated with the Group, reflecting these financial results with the Securities and Exchange Commission, in connection with its previously announced proposed business combination with Primavera Capital Acquisition Corporation (NYSE: PV), an affiliate of Primavera Capital Group, a leading global investment firm.

The Group’s performance in the first half of 2022 has been marked by an exceptional phase of growth, building on the strong momentum achieved in 2021. For the first six months of 2022, the Group recorded revenue of €202 million, representing industry-leading growth of 73% compared to the same period in 2021.

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Southland Awarded $155 Million Elm Fork Water Treatment Plant Filter Complex in Dallas, Texas

Southland Holdings, LLC (“Southland”) announced today that a subsidiary in its Civil segment, Oscar Renda Contracting, has been awarded a $155 million contract to construct a water treatment plant filter complex for the City of Dallas.

The scope of work includes constructing a water filter complex, installing up to 11’ diameter water pipe, and connecting to the city’s existing treatment system. The water filter complex will connect to a 10’ diameter tunnel Southland recently finished boring for the City of Dallas on a separate project. Construction on the newly awarded project is expected to start by the end of 2022.

On May 25th, 2022, Southland entered into an Agreement and Plan of Merger (the “Agreement”) with publicly-traded Legato Merger Corp. II, a special purpose acquisition company (NASDAQ: LGTO).

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Recent Posts
by Nicholas Alan Clayton on 2022-12-08 at 2:28pm

Parsec Capital (NASDAQ:PCX) announced in an 8-K this morning that it has begun the process of liquidating its trust account, but the filing also curiously notes that the team is trying to carry on with its announced combination with Enteractive Media. The announcement matches what the SPAC said in its 10-Q filed November 18, that...

by Marlena Haddad on 2022-12-08 at 12:56am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Palihapitiya blames Fed for crushing the blank-check bubble, and Hong Kong is set to regain top-three IPO ranking in 2022 SPAC king Chamath Palihapitiya says the Fed crushed the bubble in blank-check firms...

by Marlena Haddad on 2022-12-08 at 12:50am

PHP Ventures Acquisition Corp. (NASDAQ: PPHP) has entered into a definitive agreement to combine with ConstrucTech company Modulex Modular Buildings Plc (“Modulex”) at a valuation of $600 million. UK-based Modulex manufactures 3D volumetric steel modular buildings and harnesses emerging technologies to meet housing and infrastructure needs. The combined company is expected to trade on the...

by Nicholas Alan Clayton on 2022-12-08 at 11:53am

7GC & Co.  (NASDAQ:VII) has entered into a definitive agreement to combine with video engagement platform Banzai at an enterprise value of $380 million, or 17.3x its revenue in the 12 months ending in September 2022. Bainbridge Island, Washington-based Banzai provides a suite of virtual event management and analytical tools through a software-as-a-surface (SaaS) model....

by Marlena Haddad on 2022-12-08 at 10:52am

AlphaTime Acquisition Corp. (NASDAQ:ATMC) filed its S-1 yesterday morning for a $60 million IPO as the second SPAC to file for an IPO in December thus far. The new SPAC has set its sights on businesses in Asia that have the potential to generate strong, stable, and increasing free cash flow, particularly businesses with predictable revenue streams...

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