The Latest SPAC News and Rumors: December 10, 2021


The Latest SPAC News and Rumors: December 10, 2021

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

Latest SPAC News: BuzzFeed fallout worsens while Solid Power surges in Nasdaq debut, and former Trump admin attorney joins Rumble as Legal Chief

BuzzFeed Fallout Worsens, Sheds 39% Since This Week’s Debut

BuzzFeed Inc.’s (NASDAQ:BZFD) plunge after leaping into the public market earlier this week is accelerating.

Shares of the digital media company spiraled 24% to $5.87 Thursday, closing at a fourth consecutive record low. BuzzFeed debuted on Dec. 6 after merging with blank-check company 890 5th Avenue Partners Inc., and since then it has shed nearly 40% of its value as the majority of investors opted not to participate, leaving the business with a fraction of the millions in funding it originally expected to receive.


Shares of Ford- and BMW-backed Battery Supplier Solid Power Surge in Nasdaq Debut

Shares of electric vehicle battery cell supplier Solid Power surged as much as 14% during the company’s Nasdaq debut Thursday morning following the completion of a SPAC deal.

The stock’s initial performance is similar to other electric vehicle related companies that have gone public through deals with blank-check companies. Many jump during initial trading to then level-off and become volatile over time.

Decarbonization Plus Acquisition Corp. III recently received shareholder approval of its combination with Solid Power.


Former Trump Admin Attorney Joins Platform Rumble as Legal Chief

Former Trump administration lawyer Michael Ellis has landed the top legal role at Rumble Inc., a Canadian video platform that has counted the former president as a member.

Ellis joined Rumble in November as its first-ever general counsel and corporate secretary, a company spokesman confirmed Thursday.

On December 2,  CF Acquisition Corp. VI (NNASDAQ:CFVI) agreed to combine with Rumble.