The Latest SPAC News and Rumors: October 12, 2022

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

Latest SPAC News:  Delta invests $60M in Joby, Lavoro agrees to acquire NS Agro in expansion throughout Latin America, and Falcon’s Beyond announces details on new theme park

Delta invests $60M in air taxi company Joby Aviation 

Delta Air Lines has made an upfront equity investment of $60 million in Santa Cruz, Calif.-based Joby Aviation (NYSE:JOBY), which is developing electric vertical takeoff and landing (eVTOL) aircraft, the companies announced Tuesday.

Delta plans to use the new aircraft for home-to-airport transportation for its customers, beginning in New York and Los Angeles. The investment could increase to up to $200 million based on the achievement of milestones on the development and delivery of the service.

The companies did not state a beginning date for the service, but Joby has said it plans to launch air taxi service in 2024.

Lavoro Agrees to Acquire NS Agro in Continued Expansion Throughout Latin America

Lavoro Group announced today an agreement to acquire agricultural supplies company NS Agro in a sustained expansion push throughout Latin America.

NS Agro is a holding company of agricultural inputs retailers in Chile and Peru, specializing in crop protection, fertilizers, seeds and specialty products. NS Agro is a leading independent ag inputs retailer in the region, with a coverage area extending to all of Chile’s farming zones.

Lavoro announced last month its intent to become the first US-listed pure-play Latin American agricultural inputs retailer through a business combination with The Production Board’s SPAC, TPB Acquisition Corporation I (NASDAQ:TPBA).

Falcon’s Beyond Announces Details of the Caribbean’s First World Class Theme Park, Katmandu Park

Falcon’s Beyond Global, LLC, a leading fully integrated global entertainment development company specializing in intellectual property creation and expansion, announced today details of its forthcoming world-class theme park, Katmandu Park | Punta Cana. Expected to open early 2023 in the Dominican Republic, Katmandu Park, conceived and built by Falcon’s, will feature cutting-edge rides and attractions that immerse guests in the company’s original, proprietary franchise, The Hidden Realms of Katmandu.

On July 12, Falcon’s Beyond announced plans to become a publicly listed company on Nasdaq through a definitive merger agreement with FAST Acquisition Corp. II (NYSE: FZT), a special purpose acquisition company founded by Doug Jacob and headed by Sandy Beall.