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The Latest SPAC News and Rumors: November 30, 2022


The Latest SPAC News and Rumors: November 30, 2022


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

Latest SPAC News:  Lordstown Motors begins shipping Foxconn-made EV pickup trucks, AUM Biosciences receives FDA Orphan Drug Designation, and Newsight Imaging selected for FastLane commercialization program

Lordstown Motors begins shipping its Foxconn-made EV pickup trucks

Lordstown Motors (NASDAQ:RIDE) has starting shipping its all-electric Endurance pickup trucks manufactured by Foxconn, a milestone that seemed impossible earlier this year.

Lordstown Motors, which has experienced investigations, executive upheaval and a shortage of capital, said Tuesday that its full-sized EV truck received full homologation with certification from both the EPA and CARB that clears the way for the company to start customer sales.

The first batch of 500 EV pickups, made at an Ohio factory now owned by Taiwanese hardware manufacturing company Foxconn, are on their way to fleet customers, according to the company. The announcement sent shares of Lordstown Motors stock up 3.79%.


AUM Biosciences Receives FDA Orphan Drug Designation for AUM302 for the Treatment of Neuroblastoma

AUM Biosciences, a global clinical-stage biotech company focused on discovering and developing precision oncology therapeutics, announced today that the U.S. Food and Drug Administration has granted Orphan Drug Designation for AUM302, a potential first-in-class oral kinase inhibitor that targets not only PI3K, but also key resistance mechanisms such as PIM and mTOR, for the treatment of neuroblastoma.

On October 20, 2022, AUM and Mountain Crest Acquisition Corp. V (Nasdaq: MCAG), a publicly traded special purpose acquisition company formed in Delaware, whose management team has an impressive pedigree of successful SPAC transactions, announced that they have entered into a definitive business combination agreement.


Newsight Imaging Technology Selected by Drive TLV for 2023 FastLane Commercialization Program

Newsight Imaging Ltd., a leading semiconductor innovator developing proprietary 3D machine vision sensors, spectral vision chips and systems, today announced it was selected for the 2023 FastLane commercialization program for smart mobility startups offered by DRIVE TLV, a leading Israeli innovation hub.

On August 30, 2022, Newsight Imaging announced that it has entered into a definitive agreement to become publicly listed through a merger transaction with Vision Sensing Acquisition Corp. (Nasdaq: VSAC), a publicly traded special purpose acquisition company.


Redwire President and COO Andrew Rush leaving company

Redwire Corp. (NYSE:RDW) said in a Securities and Exchange Commission filing that President and Chief Operating Officer Andrew Rush’s employment with the company will terminate on Dec. 9, by mutual agreement.

Redwire established its headquarters in Jacksonville after acquiring Made In Space and went public in September 2021 by merging with a special purpose acquisition company.