The Latest SPAC News and Rumors: March 14, 2022


The Latest SPAC News and Rumors: March 14, 2022


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

Latest SPAC News: Electric Last Mile discloses SEC probe, Ginkgo Bioworks acquires FGen AG, and Astra announces multi-launch contract and first launch with Spaceflight Inc.

Electric Last Mile Discloses SEC Probe, Warns of Cash Crunch

Electric Last Mile Solutions Inc. (NASDAQ:ELMS) said it’s under investigation by the U.S. Securities and Exchange Commission, just weeks after both its chairman and chief executive officer resigned following an internal probe of improper stock purchases.

The electric-vehicle startup learned of the investigation by the SEC’s Division of Enforcement on March 7, according to a regulatory filing Friday. The company also said it’s withdrawing previous guidance and will need to raise cash to get vehicles to market.

Forum Merger III Corp. shareholders approved its combination with electric vehicle (EV) company Electric Last Mile Inc., at a special meeting on June 24, 2021.


Ginkgo Bioworks Signs Definitive Agreement to Acquire FGen AG

Ginkgo Bioworks (NYSE: DNA), the leading horizontal platform for cell programming, today announced the entry into a definitive agreement to acquire FGen AG, a Swiss company specializing in strain development and optimization.

FGen has developed an ultra-high-throughput (uHT) screening platform built on nanoliter reactor technology. Ginkgo believes that FGen’s technology will significantly enhance Ginkgo’s cell screening capabilities and enable Ginkgo to explore wider expanses of genetic opportunity space, increasing the likelihood of finding enzymes, pathways, and strains or cell lines that perform to diverse product specifications.

Soaring Eagle Acquisition Corp. entered into a definitive agreement to combine with cell programming company Ginkgo Bioworks Inc. last year in May.


Astra Announces Multi-Launch Contract and First Launch with Spaceflight Inc.

Astra Space, Inc. (NASDAQ: ASTR) and Spaceflight Inc., the leading global launch services provider, today announced a multi-launch contract. The first launch under this contract is planned for today, March 14, 2022, with a window opening at 9:22am PDT / 16:22 UTC out of the Astra Spaceport in Kodiak, Alaska, but may be shifted to March 15, 2022 depending on conditions at the launch site. This agreement provides Spaceflight with launch opportunities using Astra’s launch services through 2025.

Holicity, Inc. completed its combination with space venture Astra following a shareholder approval vote on June 30, 2021.


GreenLight Biosciences Holdings, PBC (GRNA) Enters Into Multitarget Licensing Agreement With Serum Institute of India to Develop and Commercialize Messenger RNA Products for Emerging Markets Globally

GreenLight Biosciences Holdings PBC today announced a licensing agreement with Serum Institute of India, Pvt, Ltd., aimed at accelerating accessibility to messenger RNA products in emerging markets globally.

Serum Institute of India (SII) is the world’s largest vaccine manufacturer by number of doses produced and sold. GreenLight Biosciences is a public benefit corporation whose RNA platform focuses on discovery, design, development, manufacturing, and commercialization of products for human, animal, and plant health.

Environmental Impact Acquisition Corp. completed its combination with biotech firm GreenLight in a special meeting held on February 2.


DNEG Scores BAFTA Award for Special Visual Effects on “Dune”

DNEG, a leading technology-enabled visual effects (VFX) and animation studio for the creation of feature film, television and multiplatform content, received the British Academy of Film and Television Arts (BAFTA) award for Special Visual Effects for its work on Dune.

Four out of the five films nominated in the BAFTA’s Special Visual Effects category featured DNEG-led VFX work; the other nominees were No Time To Die, The Matrix Resurrections and Ghostbusters: Afterlife.

On January 25, 2022, DNEG announced its entry into a definitive business combination agreement with Sports Ventures Acquisition Corp. (Nasdaq: AKIC).