The Latest SPAC News and Rumors: June 24, 2022


The Latest SPAC News and Rumors: June 24, 2022


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

Latest SPAC News: Polestar soars in first day of trading, and InfiniteWorld receives recognition for marketplace creation

EV Newcomer Polestar’s Stock Soars in First Day of Trading

The merger between the special-purpose acquisition company Gores Guggenheim and the electric vehiclemaker Polestar (NASDAQ:PSNY) born from Volvo is done.

The predecessor stock, Gores Guggenheim , closed Thursday at $11.23 a share. Polestar stock was at $12.10 in early trading Friday, up almost 8% on a good day for markets overall. The S&P 500 and Dow Jones Industrial Average were up 2.2% and 1.9%, respectively.


InfiniteWorld Recognized as “Best Whitelabel Marketplace Creation Platform” by OpenSea-Supported Awards at NFT.NYC

At NFT.NYC, metaverse infrastructure company InfiniteWorld won the award for Best Whitelabel Marketplace Creation Platform by community vote. More than 18,000 votes were counted across all NFT-related awards, which were supported by OpenSea, APENNFT, and NFT.Kred at the much-anticipated NFT extravaganza in New York City.

InfiniteWorld, part of the SUKU Ecosystem, an NFT and metaverse infrastructure company that enables brands to create, monetize, and drive consumer engagement with digital content, is poised to become a publicly traded company through a SPAC merger via Aries I Acquisition Corporation (Nasdaq: RAM).


Hong Kong’s second SPAC zooms in on smart cars, supply chain, e-commerce, as potential takeover targets

Hong Kong’s second SPAC, Vision Deal, is reviewing a shortlist of potential merger targets, as Chinese entrepreneurs and companies including Geely-backed carmaker Polestar test-drive the investment vehicle as an alternative route to a public listing.

Vision Deal is looking at a number of candidates at the moment, including the largest or second-largest leaders in smart-car technologies, supply chain, and cross-border e-commerce, said Wei Zhe, chairman and executive director.