The Latest SPAC News and Rumors: May 30, 2023


The Latest SPAC News and Rumors: May 30, 2023

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

Latest SPAC News: GreenLight Biosciences returns to private market, Jet.AI partners with Vegas Golden Knights and Cirrus Aviation, and True Velocity announces partnership with FN America

GreenLight returns to private market in $46M deal after taste of Wall Street

GreenLight Biosciences will seek its dream off Wall Street in a go-private deal less than two years after taking the special purpose acquisition company route there.

The company is returning to private life in a $45.5 million all-cash deal from a coalition led by Fall Line Capital, according to a Tuesday relaease. The agreement comes two months after GreenLight first disclosed that Fall Line was interested in scooping up the faltering RNA biotech. The deal was unanimously agreed upon by GreenLight’s board of directors.

The company went public amid the SPAC boom of 2021 but has seen its shares tumble since. The company was aiming its cell-free mRNA platform at vaccines after originally working on agriculture.

JET.AI Partners With Vegas Golden Knights And Cirrus Aviation To Provide Fans With By-The-Seat Private Jet Experience To Away Games 

Jet Token Inc. d/b/a Jet.AI, an innovative private aviation, artificial intelligence, booking and membership platform and Cirrus Aviation, a leading private jet provider, have announced an official partnership with the Vegas Golden Knights to provide fans the ultimate private aviation experience for away games.

This partnership comes on the heels of Jet.AI’s recent announcement of a proposed business combination with Oxbridge Acquisition Corp. (NASDAQ: OXAC).

True Velocity Partners with FN America to Develop M240 Conversion Kit

Texas-based advanced technology company TV Ammo, Inc. announced today a strategic development partnership with FN America that would enable one of the most prolific machine guns in the world to fire its proprietary 6.8TVCM composite-cased cartridge.

As previously announced on November 1, 2022, TV Ammo, Inc. entered into a business combination agreement with Breeze Holdings Acquisition Corp. (NASDAQ: BREZ).


AUM Biosciences Doses First Patient in Phase 2 Clinical Trial of AUM001 in Metastatic Colorectal Cancer

AUM Biosciences Pte. Ltd. (“AUM”), a global clinical-stage biotechnology company focused on discovering and developing precision oncology therapeutics, announced today that the first patient has been dosed in its Phase 2 clinical trial evaluating AUM001 for the treatment of metastatic colorectal cancer (MSS CRC). AUM001 is a mRNA translation inhibitor that targets MNK 1/2 and the chokepoint of multiple pro-oncogenic signalling pathways for the treatment of MSS CRC.

As previously announced on October 20, 2022, AUM entered into a definitive business combination agreement with Mountain Crest Acquisition Corp. V (Nasdaq: MCAG).