The Latest SPAC News and Rumors: October 13, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Dish in talks to merge Boost mobile-phone business with Conx Corp., Polestar unveils new electric SUV, and Truth Social now available in Google Play store
Dish in Talks With Ergen-Backed SPAC for Wireless Merger
Dish Network Corp. (NASDAQ:DISH) is in preliminary discussions on a complex deal to merge its Boost mobile-phone business with Chairman Charlie Ergen’s blank-check company.
Ergen’s Conx Corp. (NASDAQ:CONX), which went public in 2020, is seeking an extension from shareholders to complete a business transaction so it can keep pursuing the talks, according to a statement late Wednesday. A vote on an extension will take place on Oct. 31.
READPolestar unveils a new $84,000 electric SUV it’s hoping will help cement its foothold in the U.S.
Swedish EV maker Polestar (NASDAQ:PSNY) on Wednesday unveiled a new electric SUV that it’s counting on to expand its sales and presence in the United States.
The new model, called the Polestar 3, is a five-passenger EV that the company describes as a “performance SUV.” It’ll launch with a 111 kilowatt-hour battery and a dual-motor configuration that delivers up to 517 horsepower with an estimated 300 miles of EPA-rated range.
READTruth Social Android App Now Available in the Google Play Store
Today, Trump Media & Technology Group (“TMTG”) announced that the Truth Social Android App is available for users to download in the Google Play Store. With its inclusion in the Google Play Store, Truth Social can now be accessed across all devices in the United States.
TMTG CEO Devin Nunes said, “It’s been a pleasure to work with Google, and we’re glad they helped us to finally bring Truth Social to all Americans, regardless of what device they use. Today marks a significant milestone in our mission to restore free speech online.”
READNikola founder was a ‘con man,’ U.S. prosecutor tells jurors
A prosecutor on Thursday urged jurors to convict Nikola Corp (NASDAQ:NKLA) founder Trevor Milton of fraud, calling him a “con man” who lied about the low-emission vehicle company to defraud ordinary investors.
Federal prosecutors during closing arguments in New York said Milton deceived investors about the electric- and hydrogen-powered truck maker’s technology starting in November 2019. Milton left the company in September 2020 after a report by short seller Hindenburg Research called the company a “fraud.”
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