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Morning SPAC News Roundup: January 23, 2024


Morning SPAC News Roundup: January 23, 2024

At the SPAC of Dawn

Another day, another US election primary, this time in New Hampshire.

But, as SPACInsider examined some of the boosts that conservative values-aligned SPACs and de-SPACs have experienced as election season kicked off, the next 24 hours will see that enthusiasm go head-to-head with the trepidation about what might come out of tomorrow’s SEC meeting on potential new SPAC rule changes.

About an hour into Tuesday trading, Digital World is already seem a -5% slip, while Black Rifle Coffee (NYSE:BRCC) is down -1.2%, and Public Square (NYSE:PSQH) -4.6%. But, Rumble (NASDAQ:RUM) is still riding high another +17% into the green so far today, possibly still basking in the second day of the market’s appraisal of its partnership with Bartstool Sports.

Deals and Funding

  • CSLM (NASDAQ:CSLM) has entered into a definitive agreement to combine with AI software company Fusemachines at an equity valuation of $200 million. CSLM has an estimated $52.1 million in its current trust after seeing 74.8% of shares redeemed in a July 2023 extension vote.

News and Rumors

  • Bloomberg Law: FAST Acquisition Corp. founder has agreed to pay $12.5 million in a settlement over the termination of the SPAC’s combination with Fertitta Entertainment, after which investors alleged the sponsor attempted to keep the deal’s $33 million breakup fee for itself.
  • Bloomberg Law: An investor suit against the founders of Electric Last Mile and sponsor of Forum Merger III, which took the company public in June 2021, will proceed after a judge denied a bid to dismiss the suit Monday.
  • PR: Accelus has picked up $20 million in the form of a debt facility from life sciences-focused credit partner Symbiotic Capital, it announced last week. Accelus announced its combination with CHP Merger in November 2021, but the SPAC terminated the deal and liquidated due to market conditions.


  • Magnum Opus Acquisition Limited (NYSE:OPA) has decided that it will redeem all of its outstanding ordinary shares, effective as of the closing of business on February 8. The per-share redemption price for the shares will be approximately $10.81.