The Latest SPAC News and Rumors: November 2, 2022

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

Latest SPAC News: Bitcoin Depot announces acquisition of majority interest in Bitaccess, Lockheed Martin increases its bet on Terran Orbital with $100M investment, and ProSomnus announces FDA clearance 

Bitcoin Depot Announces Acquisition of Majority Interest in Bitaccess, a Leading Bitcoin ATM Software Provider

Lux Vending, LLC dba Bitcoin Depot, a U.S.-based Bitcoin ATM (“BTM”) operator and leading fintech company, today announced the previously-consummated acquisition of a majority of equity interests in Bitaccess Inc. (“Bitaccess”), a leading BTM operating system provider.

On August 24, 2022, Bitcoin Depot and GSR II Meteora Acquisition Corp. (“GSRM”), a special purpose acquisition corporation, entered into a definitive agreement for a business combination that would result in Bitcoin Depot becoming a public company listed on the Nasdaq under the ticker symbol “BTM.”

Lockheed Martin increases its bet on satellite manufacturer Terran Orbital with $100 million investment

Aerospace giant Lockheed Martin is deepening its investment in satellite manufacturer Terran Orbital (NYSE:LLAP) with a $100 million investment and a cooperation agreement for the development and sale of smallsats through 2035.

Terran also announced that it will now build its massive, $300 million space vehicle manufacturing facility in Irvine, California, not Florida as originally planned. CEO Marc Bell told press that the company decided to move the facility to California, where Terran Orbital already has a substantial footprint, because it could move into the facilities faster than in Florida. It’s a big loss for Space Florida, the state’s economic development agency focused on aerospace, which was going to provide the conduit financing for the facility.

Terran Orbital completed its merger with Tailwind Two in March 2022.

ProSomnus Announces FDA 510 (k) Clearance for ProSomnus EVO [PH] Sleep and Snore Device

ProSomnus (“the Company”), a pioneer in precision medical devices for the treatment of Obstructive Sleep Apnea (OSA), today announced that it has received 510(k) clearance from the United States Food and Drug Administration (FDA) for the ProSomnus EVO™ [PH] Sleep and Snore Device. The device joins the Company’s flagship product, the ProSomnus EVO™, in its line of FDA-cleared, patient-preferred, less invasive Precision Oral Appliance Therapy (OAT) devices for the treatment of OSA.

In May 2022, ProSomnus entered a definitive merger agreement with Lakeshore Acquisition I Corp. (Nasdaq: LAAA), a special purpose acquisition company. Upon closing, the combined company is expected to change its name to ProSomnus, Inc. and its Class A common stock is expected to be traded on the Nasdaq Capital Market under the symbol “OSA”.