The Latest SPAC News and Rumors: April 18, 2023


The Latest SPAC News and Rumors: April 18, 2023

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

Latest SPAC News: SPAC traders value Trump Media 40x higher than he does, Devin Nunes says SEC is slow walking Truth Social deal, and Hambro Perks co-founder and CEO quietly exits

SPAC Traders Value Trump Media 40-Times Higher Than He Does

Donald Trump values his nascent media company at less than $30 million, a stark discount to the more than $1 billion valuation implied by investors who piled into the blank check that’s hoping to bring the firm public.

The former president said Trump Media & Technology Group Corp., which is going public through a SPAC merger with Digital World Acquisition Corp.(NASDAQ:DWAC), is worth $5 million to $25 million, according to a financial disclosure filed late Friday with the Federal Election Commission.


Devin Nunes says SEC is slow walking Truth Social SPAC deal

Former Representative and Truth Social CEO, Devin Nunes calls out SEC Chairman Gary Gensler for slow walking the approval that’s still needed for the Truth Social SPAC deal: “You have three people that are clearly involved in this transaction, or non-transaction, trying to basically kill our ability to have access to the public markets.”


Hambro Perks co-founder and CEO quietly exits

Dominic Perks has left Hambro Perks, the VC firm he co-founded a decade ago. The company confirmed to Investment Week Perks is no longer working at the business, but no reason for his exit was provided,

Hambro Perk’s special purpose acquisition company HPAC told investors on 14 April Perks had resigned as a director with immediate effect.

HPAC was London’s first SPAC, launched in November 2021, following the UK government’s removal of trading suspensions on SPACs after they confirmed a deal.


NEXT Renewable Fuels, Inc. Acquires Southern Oregon Clean Fuel Assets

Lakeview RNG, a wholly owned subsidiary of NEXT Renewable Fuels (“NEXT”), has acquired assets associated with the Red Rock Biofuels development in Lake County, OR effective Friday, April 14, 2023. Lakeview RNG is commencing a redevelopment plan focused on completing construction of certain aspects of the site while replacing or enhancing others. When complete, the Lakeview RNG facility is expected to be capable of converting forest waste into renewable natural gas (“RNG”) and clean hydrogen.

NEXT announced its $530 million business combination with Industrial Tech II (NASDAQ:ITAQ) in November 2022.


FG Merger Corp. Reports Granting Institutional-Styled Opportunity To The Retail Community

FG Merger Corp. (NASDAQ:FGMC) provides retail investors access to a security that has historically only been available to institutions. Retail investors will be able to invest in a publicly-traded company with a unique asymmetric structure, and they’ll be able to do that straight through their regular brokerage accounts.