The Latest SPAC News and Rumors: March 15, 2022

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

Latest SPAC News: Hong Kong’s first SPAC aims for $1B, Joby nears completion of air carrier certification, and Terran Orbital awarded Lockheed Martin contract

Hong Kong’s First SPAC Aquila Aiming for $1B

Aquila Acquisition (7836), Hong Kong’s first SPAC, is aiming to raise about HK$1 billion after setting its offering price at HK$1.05 million per board lot.

The China Merchants Bank-backed SPAC is offering 100.065 million Class A Shares at HK$10 apiece as well as 50.0325 million listed warrants.

The blank check firm is expected to debut this Friday after announcing its IPO results on Thursday.

Joby Nears Completion of Part 135 Air Carrier Certification 

Joby Aviation Inc. (NYSE:JOBY), a California-based company developing all-electric aircraft for commercial passenger service, today announced the Company has begun the fourth of five stages to receive its Part 135 Air Carrier Certificate from the Federal Aviation Administration (FAA).

Reinvent Technology Partners completed its combination with Joby Aviation at a special meeting held in August last year.

Terran Orbital Awarded Contract in Support of the Space Development Agency’s Tranche 1 Transport Layer

Terran Orbital Corporation, a leading vertically integrated provider of end-to-end satellite solutions, announced that its wholly owned subsidiary, Tyvak Nano Satellite Systems, Inc., was awarded a contract by Lockheed Martin to build 42 satellites for the Space Development Agency’s Tranche 1 Transport Layer, the Initial Warfighting Capability Tranche of the National Defense Space Architecture (NDSA).

Terran Orbital has previously announced that it entered into a business combination agreement with Tailwind Two Acquisition Corp. (NYSE: TWNT), pursuant to which Terran Orbital will combine with Tailwind Two.

Acacia Research Taps Starboard SPAC Executive as M&A Chief

Acquisition platform Acacia Research Corp (NASDAQ:ACTG), backed by activist fund Starboard Value and a recent bidder for retailer Kohl’s Corp, appointed one of the hedge fund’s senior executives on Tuesday to oversee all aspects of its takeover business.

The firm, which acquires businesses in sectors including technology, retail, and healthcare, appointed Martin McNulty Jr. as its chief operating officer and head of mergers and acquisitions, Acacia Chief Executive Officer Clifford Press told Reuters.