The Latest SPAC News and Rumors: October 14, 2021


The Latest SPAC News and Rumors: October 14, 2021

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

Latest SPAC News: ELMS signs battery supply deal with CATL, Redbox enters into multiyear distribution deal with Lionsgate, and NextNav collaborates with Qualcomm

Commercial EV Startup ELMS Signs Battery Supply Deal with CATL

U.S. commercial electric vehicle maker Electric Last Mile Solutions Inc (ELMS) (ELMS.O) on Thursday said it has signed a battery supply deal with China’s Contemporary Amperex Technology Co Ltd (CATL).

Financial terms of the deal, which runs through 2025, were not disclosed. CATL’s batteries power the Class 1 small delivery vehicle that ELMS began building last month at its plant in Mishawaka, Indiana.

ELMS entered into a definitive agreement to combine with Forum Merger III on December 11.


Redbox Enters Into Multiyear Distribution Deal for Lionsgate to Distribute Redbox Entertainment Originals and License AVOD Content

Global content leader Lionsgate (NYSE: LGF.A, LGF.B) and entertainment company Redbox today announced a multiyear distribution deal under which Lionsgate will handle distribution of Redbox Entertainment titles across home entertainment windows in addition to subscription video on demand (SVOD) licensing for select titles under the Redbox Entertainment brand.

Redbox recently announced a definitive agreement to combine with Seaport Global Acquisition Corp. (NASDAQ:SGAM).


NextNav and Qualcomm Collaborate to Deliver Precise Vertical Location for E911 Emergency Services

NextNav, a leader in next generation GPS, today announced that it is collaborating with wireless technology innovator Qualcomm Technologies, Inc. to enable NextNav’s Pinnacle 911 z-axis software and network-based services for use with the Qualcomm Innovation Suite. This effort makes it easy for device and original equipment manufacturer (OEM) vendors to integrate z-axis capabilities into existing carrier infrastructure for 911 purposes.

In June 2021, NextNav entered into a definitive merger agreement with Spartacus Acquisition Corporation (NASDAQ: TMTS).