The Latest SPAC News and Rumors: August 20, 2021

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

Latest SPAC News: Ackman Proposes to return SPAC funds; Ouster in talks to acquire lidar rival Sense Photonics

Bill Ackman Proposes to Return $4 Billion to SPAC Investors If New Vehicle Is Approved

Bill Ackman proposed to return $4 billion he raised from investors through his SPAC if he gets regulatory approval to launch a new vehicle, saying a lawsuit filed earlier this week has had an impact on his ability to strike a deal.

In a note to Pershing Square Tontine Holdings shareholders late on Thursday, the billionaire investor said a lawsuit alleging the SPAC is “an illegal investment company” has hurt its chances of getting a deal done within the required timeframe.

Ouster Said In Talks to Acquire Lidar Rival Sense Photonics

Ouster Inc., a lidar startup that went public after merging with a blank-check firm, is in advanced talks to acquire rival Sense Photonics, according to Bloomberg.