Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Hedge fund bets against SPAC tied to Trump, Indian government eyes SPAC framework to enable new listing route, and Rezolve partners with Computop
Hedge Fund Bets Against a SPAC Tied to Trump After Truth Social ‘Disaster’
Hedge fund Kerrisdale Capital Management is betting against the shell company tied to Donald Trump, wagering that it will fail to get regulatory approval to merge with his media company and take it public.
Shares of Digital World Acquisition Corp. (NASDAQ:DWAC) have more room to fall, according to a report Wednesday from Kerrisdale announcing its short position. DWAC gave misleading statements in registration documents and the high-profile nature of its potential combination with the former president’s company, Trump Media & Technology Group, is an “ideal way” for regulators to send a message to the broader industry, it said.READ
Indian Government Eyes SPAC Framework to Enable New Listing Route
The Indian government is looking at putting in place a regulatory framework for SPACs in the statutes to aid the possible listing of Indian companies in the country. The Company Law Committee, which submitted its report on a fresh set of amendments to the Companies Act, has suggested introduction of enabling provisions in the law to list a SPAC on domestic or international exchanges.
The panel has gone on to suggest that the provisions allowing Indian companies to list directly on overseas exchanges should be operationalized. While Parliament allowed the move, the revenue department has refused to address issues related to taxation.READ
Rezolve and Computop Announce Strategic Partnership on Mobile Engagement and Payments, Extending Rezolve’s Presence in German Markets and Beyond
Rezolve, a leader in mobile commerce and engagement, and Computop, a leading payment service provider, today announced a strategic partnership agreement to combine their respective strengths in mobile engagement and payment processing to improve service for users of both globally.
On December 17, 2021, Rezolve announced that it had entered into a definitive business combination agreement with Armada Acquisition Corp. I (NASDAQ: AACI).READ
Cohen & Co. Capital Markets Hires Ex-Deutsche SPAC Banker Sun
Cohen & Co. Capital Markets, an arm of JVB Financial Group LLC, hired Brandon Sun, a former Deutsche Bank AG banker specializing in special purpose acquisition companies, according to Bloomberg.
Sun, who is based in New York, is slated to start in coming weeks as a managing director reporting to Jerry Serowik, the firm’s head of capital markets and a Wells Fargo & Co. (NYSE:WFC) alum.READ