The Latest SPAC News and Rumors: June 23, 2022


The Latest SPAC News and Rumors: June 23, 2022


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

Latest SPAC News: Nikola founder Trevor Milton faces new fraud charge, and ProKidney publishes new data 

Nikola founder Trevor Milton faces new fraud charge

U.S. prosecutors on Wednesday added a new wire fraud charge to their criminal case accusing Trevor Milton, the founder and former chief executive of Nikola Corp (NASDAQ:NKLA), of defrauding investors by lying about the electric- and hydrogen-powered truck maker.

The new charge concerns Milton’s alleged effort to defraud the seller of Wasatch Creeks Ranch in Utah by making false and misleading statements about Nikola’s products and business prospects.

Nikola went public in June 2020. Authorities have said Milton misled investors in social media posts, TV appearances and podcast interviews designed to drive up Nikola’s stock price and bolster his stature as an entrepreneur.


ProKidney Corroborates the Mechanism of Action of REACT with Cell Marker Analysis in Patients with Diabetic Chronic Kidney Disease

ProKidney LP (ProKidney), a leading clinical-stage cellular therapeutics company focused on the treatment of chronic kidney disease (CKD) and the prevention of end-stage renal disease (ESRD) requiring dialysis or transplant, today published data from a patient study confirming the mechanistic action of its lead candidate REACT™ with cell marker analysis.

On January 18, 2022, ProKidney announced that it would become a publicly traded company via a business combination with Social Capital Suvretta Holdings Corp. III (Nasdaq: DNAC).