The Latest SPAC News and Rumors: October 19, 2022


The Latest SPAC News and Rumors: October 19, 2022


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

Latest SPAC News: Kazuo Okada vows to keep up Philippine casino fight following arrest, and Sonder president, CFO to step down

Kazuo Okada vows to keep up Philippine casino fight after arrest

Gaming tycoon Kazuo Okada has vowed to fight for his interests in the multibillion-dollar Philippine casino that bears his name after his arrest in Manila this week opened a new chapter in the drawn-out dispute over the company.

Okada is facing charges of “grave coercion” in relation to the physical takeover of the Okada Manila integrated resort and casino by his associates in May. The tycoon was arrested by Philippine police on Monday upon his arrival at the Manila airport from Japan and was later released after posting bail.

The dispute has delayed indefinitely Okada Manila’s plans to list on Nasdaq by merging with 26 Capital Acquisition (NASDAQ:ADER), a special purpose acquisition company, in a deal that would value the casino at $2.5 billion.


Sonder President, CFO to Step Down, Join Board

Sonder Holdings (NASDAQ: SOND) president and CFO Sanjay Banker will step down from those positions and join the short-term accommodation provider’s board of directors, effective Jan. 1, 2023, the company announced Monday.

Sonder earlier this year went public through a merger with Gores Metropoulos II, Inc.