The Latest SPAC News and Rumors: July 11, 2022

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

Latest SPAC News:  Trump-tied SPAC DWAC surges after Elon Musks dumps Twitter deal and MANSCAPED partners with Pete Davidson

Trump-Tied SPAC Surges After Elon Musk Dumps His Twitter Bid

Investors piled back into stocks tied to former President Donald Trump after Elon Musk abandoned his planned purchase of Twitter Inc.

Shares of Digital World Acquisition Corp. (NASDAQ:DWAC), the special purpose acquisition company merging with Trump’s media venture, soared as much as 26% to $30.90 on Monday. Warrants tied to the SPAC spiked as much as 60%, while Phunware Inc.(NASDAQ:PHUN), a software company that worked on Trump’s re-election campaign, jumped as much as 26%.

The rally came after Musk said he was pulling the plug on his agreement to buy Twitter, a move that would ease some investor fears that a Musk-run operation could spell the end of Trump’s Truth Social. Devin Nunes, chief executive officer of Trump Media & Technology Group, which owns Truth Social, told Fox Business in April that Twitter wasn’t seen as a threat to the company’s ambitions.

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MANSCAPED Signs Pete Davidson As Brand Partner And Shareholder

Today, the global men’s grooming company and lifestyle consumer brand officially welcomed Pete Davidson as Brand Partner and Shareholder. Known for his iconic comedic style, unapologetic authenticity, and total appeal to the world, Pete brings a unique edge and boundless content opportunity to the disruptive grooming brand. To kick off the four-year partnership, the comedian and longtime fan of the brand collaborated with MANSCAPED on an inaugural ad that brings to life the magic of this marriage.

On November 23, 2021, MANSCAPED announced its entry into a definitive business combination agreement with Bright Lights Acquisition Corp. (Nasdaq: BLTS) (“Bright Lights”).