The Latest SPAC News and Rumors: April 28, 2022


The Latest SPAC News and Rumors: April 28, 2022


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

Latest SPAC News: Dubai’s Averda plans IPO after ditching SPAC talks, Truth Social back on top of Apple’s App Store, and springbig partners with Tymber

Dubai’s Averda Explores IPO After Ditching SPAC Merger Talks

Averda is exploring an initial public offering in Saudi Arabia or the United Arab Emirates, according to people familiar with the matter, the latest firm seeking to join a wave of listings in the Persian Gulf.

The Dubai-based provider of waste-disposal services held merger talks with U.S. blank-check firm Better World Acquisition Corp. (NASDAQ:BWAC) earlier this year, but those discussions have been abandoned.


Trump-Tied SPAC Shares Roar Back With Truth Social No. 1 in App Store

Former President Donald Trump’s social network is back on top of Apple’s App Store, fueling a rebound in the blank-check firm bringing its parent company public.

Shares of Digital World Acquisition Corp. (NASDAQ:DWAC) leaped 24% Wednesday as thousands more users gained access to Truth Social’s full functionality and downloads jumped almost tenfold. The special-purpose acquisition company, which is merging with Trump Media & Technology Group, had slumped 60% in the previous two months or so.


springbig Partners With Tymber to Launch Fully Integrated Loyalty Rewards Feature

springbig, a leading provider of SaaS-based marketing solutions, consumer mobile app experiences, and omnichannel loyalty programs to the cannabis industry, today introduced its loyalty integration platform with Tymber, the industry’s most trusted e-commerce platform for digital growth. Retailers using Tymber and springbig can allow customers to opt into springbig-powered loyalty rewards and SMS marketing programs. Over time, shoppers can accrue points and directly redeem rewards through the Company’s website and Tymber’s mobile apps.

On November 9, 2021, springbig announced that it entered into a definitive agreement for a business combination with Tuatara Capital Acquisition Corporation (NASDAQ: TCAC), subject to closing conditions and shareholder and regulatory approvals.


City of Scranton, Pennsylvania Signs Three-Year Smart City Contract With Rubicon

Rubicon Technologies, LLC, a digital marketplace for waste and recycling and provider of innovative software-based solutions for businesses and governments worldwide, today announced that it has entered into a three-year smart city partnership with the City of Scranton, Pennsylvania to help enhance its residential waste and recycling services.

Rubicon previously announced an agreement for a business combination with Founder SPAC (Nasdaq: FOUN), which is expected to result in Rubicon becoming a public company listed on the New York Stock Exchange under the new ticker symbol “RBT” in the second quarter of 2022.


Brivo Unveils Cross-Platform Smart Credential to Secure Operations Across a Range of Locksets and Readers

Brivo, a leading provider of cloud-based access control and smart building technologies that recently entered into a definitive merger agreement with Crown PropTech Acquisitions (NYSE: CPTK), today announced Brivo Unified Credential, a new cross-platform smart credential that is compatible with select wireless locks and Brivo Smart Readers to improve security while leveraging existing door locks and devices. Brivo Unified Credential allows property owners and managers to issue a single keycard or fob that operates with Brivo Smart Readers and select Schlage locks and the award-winning battery-powered Aperio locks from ASSA ABLOY.


Swvl Announces Definitive Agreement to Acquire Zeelo to Become a Leading Global Mass Transit Tech Platform by Footprint, Expanding Footprint to USA & South Africa and Increasing Presence in UK 

Swvl Holdings Corp (NASDAQ: SWVL), a global provider of transformative tech-enabled mass transit solutions, today announced a definitive agreement to acquire Zeelo, the UK’s largest smart bus platform and technology scale-up, measured by bookings. Joining forces with Zeelo builds upon Swvl’s recent successful acquisitions of Viapool and Shotl, and announced acquisitions of Volt Lines and door2door, and provides a launchpad to rapidly land and expand business operations in three strategic developed markets including the UK, South Africa and the US with Zeelo’s seasoned team of over 160 staff across the globe, including 29 software engineers based out of Zeelo’s R&D hub in Barcelona.