The Latest SPAC News and Rumors: September 27, 2023


The Latest SPAC News and Rumors: September 27, 2023

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

Pinstripes Expands Senior Leadership Team, Hires Chief Financial Officer and Chief Marketing Officer in Advance of Public Listing

Pinstripes, Inc, a best-in-class experiential dining and entertainment brand combining bistro, bowling, bocce and private event space, today announced additions to its leadership team, including the appointments of Tony Querciagrossa as Chief Financial Officer (CFO) and Shannon Keller as Chief Marketing Officer (CMO), both reporting directly to the Company’s Founder and CEO, Dale Schwartz. […]

Most recently, Tony was President of Columbus Industries, Inc. […]. Keller brings more than two decades of experience spearheading strategic marketing initiatives for leading organizations across a variety of verticals. […] From 2015-2022, Keller served as Chief Marketing Officer of True Food Kitchen, an award-winning restaurant brand renowned for pioneering full-service healthy dining.
Pinstripe announced a $520 million combination with Banyan (NYSE:BYN) in June.

Jaguar Global and GLAAM/Captivision Announce Significant New Projects

Jaguar Global Growth Corporation I (NASDAQ:JGGC, JGGCR, and JGGCW) and GLAAM, Co., Ltd., a leading designer and manufacturer of architectural media glass, and Captivision Inc., today announced that GLAAM has been selected as the main supplier of media glass for two prominent new properties in South Korea.

GLAAM will be supplying over 16,000 sq. ft. of glass for each of the Mohegan INSPIRE Entertainment Resort in Incheon and the Magok Meeting, Incentives, Convention, and Exhibition complex in Seoul, with its proprietary G-Glass serving as the main façade of both complexes.


Western University Foundation Removes Allocation To SPACs; Adds New Commitments 

The foundation amended its asset allocation policy, removing its allocation to special purpose acquisition company assets, and added several commitments within its endowment during its second quarter investment committee meeting.


SEC Charges Hydrogen Vehicle Co. Hyzon Motors and Two Former Executives for Misleading Investors

The Securities and Exchange Commission today announced settled fraud charges against Hyzon Motors Inc., an upstate New York-based company that builds hydrogen fuel cell electric vehicles (FCEVs), for misleading investors about its business relationships and vehicle sales before and after a July 2021 merger with Decarbonization Plus, a publicly-traded special purpose acquisition company. The SEC also charged Craig M. Knight, Hyzon’s former CEO, and Max C.B. Holthausen, former managing director of Hyzon’s European subsidiary, for their roles in the fraudulent scheme. […]

Without admitting or denying the SEC’s allegations, Hyzon, Knight, and Holthausen each consented to permanent injunctions and to pay $25 million, $100,000, and $200,000, respectively, in civil penalties. Knight and Holthausen also agreed to prohibitions from serving as officers or directors of a publicly traded company for a period of five and ten years, respectively. The settlements are subject to court approval.


Class-action lawsuit alleges Archer misled investors about air taxi progress

Archer Aviation faces a class-action lawsuit alleging that it and top executives misled investors about Archer’s business prospects and its progress in certificating an electric air taxi. […]

Archer denies the allegations. “We believe the claims are without merit and we intend to defend ourselves vigorously,” the company says. It declines to elaborate. The suit was filed by law firm Pomerantz, which is an active litigator of class-action suits brought against various companies.