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The Latest SPAC News and Rumors: October 25, 2022
The Latest SPAC News and Rumors: October 25, 2022
by Marlena Haddad on 2022-10-25 at 11:43am

 


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

Latest SPAC News: Flair Airlines in talks to merge with former Boeing CEO’s SPAC, and DWAC says early talks with Trump Media were not ‘substantive’ 


Flair Airlines Is in Talks to Merge With Ex-Boeing CEO’s SPAC

Flair Airlines Ltd., a low-cost Canadian airline, is in talks to go public through a merger with New Vista Acquisition Corp. (NASDAQ:NVSA), a blank check-firm backed by a former Boeing Co. chief executive officer, according to people with knowledge of the matter.

New Vista may seek to raise additional financing to support a transaction, said one of the people, all of whom requested anonymity in order to discuss private information. The special purpose acquisition company is led by Dennis Muilenburg, Boeing’s CEO from 2015 to 2019.

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SPAC Tied to Trump Media Says Early Talks Were Not ‘Substantive’ 

For nearly a year, regulators have been examining whether a proposed merger involving the social media company backed by former President Donald J. Trump broke securities laws.

To save the deal ahead of a December deadline, lawyers for Digital World Acquisition Corp. (NASDAQ:DWAC), the special purpose acquisition company that plans to merge with Trump Media & Technology Group, recently met with regulators to plead their case. Trump Media stands to get $300 million if the deal is completed, money it would use to fund its Truth Social media platform.

Lawyers for Digital World recently told regulators that the SPAC had not violated any rules by talking to Trump Media before going public.

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by Nicholas Alan Clayton on 2022-11-25 at 7:31am

Digital World (NASDAQ:DWAC) announced late Wednesday that its shareholders have approved amending its charter to allow for automatic three-month extensions of its transaction deadline until September 8, 2023. This brings to close a long drama during which Digital World adjourned the vote without concluding business six times at different meetings in September, October and November....

by Marlena Haddad on 2022-11-23 at 4:49pm

Venus Acquisition Corp. (NASDAQ:VENA) announced this afternoon that it has secured an investor for a backstop agreement in connection to its business combination with VIYI Algorithm. Venus and its sponsor, Yolanda Management Corporation, entered into a backstop agreement with Joyous JD Limited to purchase VENA shares from third parties through a broker in the open market, or...

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