The Latest SPAC News and Rumors: November 9, 2021


The Latest SPAC News and Rumors: November 9, 2021

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

Latest SPAC News: Abu Dhabi proposes SPAC framework, SPAC tied to Trump’s media venture seeks Wall Street backing, and Nextdoor surges following merger

Abu Dhabi’s Stock Exchange Submits SPAC Framework Proposal

Abu Dhabi has proposed a regulatory framework to allow the listing of blank-check companies, potentially opening the door to a slew of Gulf-focused deals involving SPACs.

The proposal led by the Abu Dhabi Securities Exchange (ADX) and the Department of Economic Development has been submitted to the Securities and Commodities Authority, the ADX said in a statement on Tuesday.


SPAC Tied to Trump’s Media Venture Seeks Wall Street Backing

Digital World Acquisition Corp. (NASDAQ:DWAC) has begun scheduling meetings with prospective investors for a PIPE transaction to support its merger with Trump Media & Technology Group, according to Bloomberg.

While the PIPE’s terms haven’t been finalized, it may exceed $500 million in size.


Nextdoor Surges in Public Market Debut After SPAC Merger

Investors gave Nextdoor Holdings Inc. (NYSE:KIND) a warm welcome to the public markets neighborhood. Shares of the localized social networking company surged 40% in its first hour of trading.

Nextdoor began trading Monday on the New York Stock Exchange under the ticker KIND after merging with the SPAC Khosla Ventures Acquisition Co. II. The shares were temporarily halted and resumed trading with gains of more than 30% over the SPAC’s Friday closing price.