The Latest SPAC News and Rumors: October 25, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Flair Airlines in talks to merge with former Boeing CEO’s SPAC, and DWAC says early talks with Trump Media were not ‘substantive’
Flair Airlines Is in Talks to Merge With Ex-Boeing CEO’s SPAC
Flair Airlines Ltd., a low-cost Canadian airline, is in talks to go public through a merger with New Vista Acquisition Corp. (NASDAQ:NVSA), a blank check-firm backed by a former Boeing Co. chief executive officer, according to people with knowledge of the matter.
New Vista may seek to raise additional financing to support a transaction, said one of the people, all of whom requested anonymity in order to discuss private information. The special purpose acquisition company is led by Dennis Muilenburg, Boeing’s CEO from 2015 to 2019.READ
SPAC Tied to Trump Media Says Early Talks Were Not ‘Substantive’
For nearly a year, regulators have been examining whether a proposed merger involving the social media company backed by former President Donald J. Trump broke securities laws.
To save the deal ahead of a December deadline, lawyers for Digital World Acquisition Corp. (NASDAQ:DWAC), the special purpose acquisition company that plans to merge with Trump Media & Technology Group, recently met with regulators to plead their case. Trump Media stands to get $300 million if the deal is completed, money it would use to fund its Truth Social media platform.
Lawyers for Digital World recently told regulators that the SPAC had not violated any rules by talking to Trump Media before going public.READ