The Latest SPAC News and Rumors: December 6, 2021

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

Latest SPAC News: Lucid gets SEC subpoena, Zaoui brothers take BenevolentAI public, and VT5 launches Switzerland’s first SPAC

EV Maker Lucid Gets SEC Subpoena on $24 Bln Blank-Check Deal

The U.S. securities regulator has asked Lucid Group Inc (NASDAQ:LCID) for documents related to an investigation into its blank-check deal, joining a growing list of companies that have come under scrutiny for their merger with shell companies.

Shares of the luxury electric-car maker fell about 14% in pre-market trading on Monday after disclosing that it had received a subpoena from the U.S. Securities and Exchange Commission on Dec. 3.

Zaoui Brothers Take U.K. Drugmaker Startup Public Via SPAC

BenevolentAI, a U.K. startup that uses artificial intelligence to develop drugs, is going public at a 1.5 billion euros ($1.7 billion) valuation via a SPAC from investment banker brothers Michael and Yoel Zaoui.

BenevolentAI will combine with Odyssey Acquisition SA, a 300 million-euro blank check company that the Zaoui brothers listed on Euronext Amsterdam in July, according to a statement on Monday.

VT5 Launches Switzerland’s First SPAC, Eyes Tech Deals

VT5 Acquisition Company is launching an IPO on the SIX Swiss Exchange in Switzerland’s first special SPAC deal, it said on Monday.

A bookbuilding for up to 200 million Swiss francs ($217 million) will start on Dec. 9, with 177.7 million francs in secured commitments from cornerstone investors including Artemis Group, Point Break Capital LP and sponsor Veraison, as well as anchor investors.

SPAC Tied to Trump’s Social Media Venture Receives Inquiries From U.S. SEC

The blank check firm taking former U.S. President Donald Trump’s social media venture public said on Monday it has received fact-finding inquiries from financial regulators as it gave investors a first look into its business ahead of its stock market listing.

Digital World Acquisition Corp (NASDAQ:DWAC) said it had received a request for information from the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA).

BuzzFeed Soars as Trading Begins in Test for Digital Media

BuzzFeed Inc. (NASDAQ:BZFD) shares surged in their first day of trading, a sign of fresh optimism after a shaky lead-up to the online media company’s public debut.

BZFD jumped as much as 45% at the start of trading in New York. They were up 36% at 10:08 a.m. Shares of 890 5th Avenue Partners Inc. had closed at $9.62 on Friday.