Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Dune SPAC sues TradeZero, Tiket mulls Blibli merger before Jakarta IPO, and BlackSky looks to expand military business
Dune SPAC Sues TradeZero for ‘Outright Falsehoods’ About Merger
Dune Acquisition Corp. (NASDAQ:DUNE) and its backers filed suit in Delaware, claiming brokerage platform TradeZero Holding Corp. duped them into a $556 million reverse merger before “trying to run out the clock on the transaction” and stick the blank-check company with the substantial cost of calling it off.
The lawsuit, made public late Wednesday, accuses TradeZero and its senior leaders of defrauding Dune into the deal with bogus financial figures and “stonewalling” its request for an update before pulling a “last-minute bait and switch” that completely undermined the merger’s logic.READ
Tiket Said to Mull Blibli Merger Before $1 Billion Jakarta IPO
Tiket.com, an Indonesian online travel booking company, is considering a merger with e-commerce platform Blibli after talks with a blank-check company fell through.
The travel firm could join with PT Global Digital Niaga, as Blibli is formally known, ahead of a planned initial public offering in Jakarta. A first-time share sale for the combined firm could raise about $1 billion. Both companies count Indonesian conglomerate Djarum Group as a backer.READ
BlackSky Looks to Expand its Military Business Amid Growing Interest in Commercial Satellite Imagery
Amid a surge in demand for satellite imagery, BlackSky (NYSE:BKSY) is looking to expand its national security and defense business, CEO Brian O’Toole told SpaceNews.
“The Defense Department is interested in tactical ISR [intelligence, surveillance and reconnaissance] from space,” he said. “There’s quite a bit of opportunity there. ISR is clearly becoming a priority and commercial capabilities have a role to play.”
BlackSky in September became a publicly traded company after closing a merger with Osprey Technology.READ