The Latest SPAC News and Rumors: July 18, 2022

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

Latest SPAC News: Trump Media probe seeks info on private equity firm, Swvl sees more customers ditch cars for buses, and SatixFy introduces compact aero terminal

Trump Media Probe Seeks Information on Obscure Private Equity Firm

A federal probe of Donald Trump’s social media deal is putting a spotlight on Rocket One Capital, an obscure private equity firm with no obvious connection to the transaction beyond a board member.

The Miami-based private equity firm is one of only two companies identified by name in a regulatory filing late last month by Digital World Acquisition Corp. (NASDAQ:DWAC), which described investigations into that financing entity’s planned deal to fund Trump Media & Technology Group Corp. A federal grand jury in the Southern District of New York seeks “information regarding” Rocket One, according to the filing, through subpoenas issued to each board member of Digital World. One of those board members was Bruce Garelick, Rocket One’s chief investment officer.

Dubai transport start-up Swvl sees more customers ditch cars for buses

Higher oil prices have helped Dubai-based transport startup Swvl (NASDAQ:SWVL) attract customers as people in its bigger markets such as Egypt and Pakistan ditch their cars in favour of buses, Chief Financial Officer Youssef Salem told Reuters.

The Nasdaq-listed company has however aggressively cut costs and put some business expansion plans on hold as it steers a path towards profitability next year to appease investors in the wake of higher inflation and interest rates.

SatixFy Introduces Compact Aero Terminal Providing In-flight Connectivity at High Speeds

SatixFy, a leader in next-generation satellite communication systems based on in-house developed chipsets that previously announced plans to go public through a business combination with Endurance Acquisition Corp. (NASDAQ: EDNC), today introduced its advanced compact aero terminal – Onyx Aero. The terminal uses the company’s latest multi-beam ESMA and SDR technology to connect to both LEO and GEO Ku-band satellite constellations simultaneously to provide in-flight connectivity at high data rate speeds. The terminal’s slick design demonstrates low weight, low drag, and low footprint, which enables cost-effective operation and quick installation on commercial aircraft as well as on large business/corporate jets.