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The Latest SPAC News and Rumors: November 23, 2022
by Marlena Haddad on 2022-11-23 at 11:37am

 


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.

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Trump-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.

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Watersight 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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Recent Posts
by Nicholas Alan Clayton on 2023-01-30 at 2:04pm

Seaport Calibre Materials Acquisition Corp. (NASDAQ:SCMA) announced in an 8-K that it has inked new non-redemption agreements after postponing its initial extension vote. The SPAC has agreed to allocate up to 37,500 promote shares (1.1%) to investors holding in exchange for them agreeing not to redeem an aggregate of 150,000 shares at the vote now...

by Marlena Haddad on 2023-01-30 at 1:22pm

Armada I (NASDAQ:AACI) announced this afternoon that it has once again postponed its extension vote. The SPAC initially planned to hold its special meeting on January 20, but postponed it to January 30, and will now be pushing it back until tomorrow, January 31. Armada has also extended the deadline for holders to submit their public...

by Nicholas Alan Clayton on 2023-01-30 at 12:07am

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by Marlena Haddad on 2023-01-30 at 11:42am

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by Marlena Haddad on 2023-01-30 at 10:15am

Pono Capital Corp. (NASDAQ:PONO) disclosed in an 8-K filing this morning that its shareholders approved its combination with air mobility company AERWINS at a special meeting held on Friday, January 27. Holders of 12,412,861 common shares were present at the meeting and the deal was approved with 11,218,712 shares in favor of the transaction. The filing did not...

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