The Latest SPAC News and Rumors: July 5, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: DWAC reaches agreement with SEC, Joby set for record week after FAA approval, and Freightos launches new Airline Dashboard
Trump-tied SPAC reaches agreement with SEC staff over merger
A blank-check firm, which was set to merge with former U.S. President Donald Trump’s media company and under regulatory investigation, has reached an agreement with the staff of the Securities and Exchange Commission, a filing showed on Monday.
The SPAC, Digital World Acquisition Corp (NASDAQ:DWAC), said in the filing that the agreement was in principle and not yet definitive, and the terms were subject to the SEC’s approval.
READJoby Set for Record Week after FAA Approval to Test Commercial Air Taxis
Joby Aviation Inc. (NYSE:JOBY) posted its best weekly gain ever after a go-ahead from US regulators signaled the company is on schedule to launch the first commercial air-taxi flights in 2025.
Shares gained 62% in the week ending Friday, the best consecutive five-day stretch ever for Joby, bringing it to its highest level in nearly two years. Joby notched a record 40% jump Wednesday when it announced it received approval from the Federal Aviation Administration to test its electric-powered flying taxis, and gained 11% Thursday after it said partner SK Telecom will invest an additional $100 million in its business. Shares rose 2.8% Friday.
READWebCargo Launches Airline Dashboard to Drive Insights and Revenue for Cargo Airlines
WebCargo by Freightos (Nasdaq: CRGO), the leading digital cargo booking and payment platform, announced today that its new Airline Dashboard has emerged from beta for its 35+ airline partners. With the new product, airlines can optimize revenue and utilization with unparalleled visibility into customer behavior across over 10,000 forwarding offices, while gaining the ability to easily adjust surcharges, services and more.
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