The Latest SPAC News and Rumors: May 5, 2022


The Latest SPAC News and Rumors: May 5, 2022


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

Latest SPAC News: Wallbox commits to net zero greenhouse gas emissions goal, Redbox spikes amid retail trader interest, and Nukkleus rebrands as blockchain and digital payments company

Wallbox Commits to Company-Wide Net Zero Greenhouse Gas Emissions Goal by 2030

Wallbox (NYSE:WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, today announced its goal to achieve Net Zero greenhouse gas (GHG) emissions across its global footprint by 2030. This announcement comes on the heels of the release of the company’s first sustainability report since listing on the New York Stock Exchange.

Kensington Capital Acquisition Corp. II completed its combination with EV charging station provider Wallbox in September 2021.


RedBox Stock Spikes Amid Retail Trader Interest

Shares of RedBox Entertainment have skyrocketed 120 percent in the past five days and analysts are calling on the formerly struggling company to seize the momentum.

The stock surge comes after the DVD-kiosk rental company announced in April that it had secured an additional $50 million in financing, which could help support the company as it looks to move past its recent weak performance. The company had been negatively impacted by a lack of theatrical releases in the previous quarter and recently announced layoffs designed to help cut down its operating expenses.

Seaport Global Acquisition Corp. completed its business combination with home entertainment provider Redbox in October 2021.


Nukkleus Rebrands as Blockchain and Digital Payments Company

Nukkleus, which works on acquiring and scaling high-potential blockchain, digital and multi-asset businesses for retail and institutional markets, has debuted its new website and brand, which will put the firm’s subsidiary brands under the same suite of assets, a press release said.

This comes as the company has proposed to combine with Brilliant Acquisition Corp.(NASDAQ:BRLI), a special purpose acquisition company.

The company’s goal is to develop blockchain technology to use in cross-border payments and digital assets.


Satellogic Reserves SpaceX Launch Capacity for 68 Satellites

Satellogic Inc. signed a multiple launch agreement with SpaceX to reserve launch capacity for its next 68 satellites. This follows a launch agreement with SpaceX covering 2022 launches. Financial terms of the deal were not disclosed.

Satellogic currently operates 22 high-resolution satellites, including five delivered to orbit on SpaceX’s Transporter-4 mission in April. The Earth observation company is vertically integrated and aims to ultimately grow its constellation to over 200 satellites by 2025 in order to provide daily sub-meter resolution imagery of the entire surface of the Earth and up to 40 revisits of points of interest per day.

The company began trading on the Nasdaq in early 2022 after the completion of its SPAC merger with CF Acquisition Corp. V.


Journalist Tim Pool Chooses the Rumble Cloud Over AWS

Today, Rumble announced that journalist and podcaster Tim Pool has moved hosting for his company, Timcast Media, to the Rumble Cloud. Pool, a successful podcaster and journalist famous for covering the Occupy Wall Street protests, has amassed millions of subscribers on YouTube and other streaming platforms. Pool’s Timcast Media covers breaking news, politics, and culture. Timcast’s movement to the Rumble Cloud follows Rumble’s successful hosting of Truth Social.

The company announced in December 2021 the execution of a definitive business combination agreement with CF Acquisition Corp. VI (NASDAQ: CFVI).