Empowerment & Inclusion Capital I Corp. (EPWR) to Liquidate
Empowerment & Inclusion Capital I Corp. (NYSE: EPWR) announced this afternoon that it will liquidate its trust due to its inability to complete a business combination.
The company expects its public shares to stop trading on the NYSE as of the close of business on December 13. ...READ MORE
The Latest SPAC News and Rumors: November 29, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Faraday Future ousts its CEO and Hyzon Motors SPAC board is sued over ‘outlandish’ deal hype
EV SPAC Faraday Future ousts its CEO
Faraday Future (NASDAQ:FFIE), the troubled EV startup-turned-publicly-traded company, has shuffled its executive ranks once again. ...READ MORE
Hudson Executive Investment Corp. II (HCII) and III (HIII) to Liquidate
Hudson Executive II (NASDAQ:HCII) and Hudson Executive III (NASDAQ:HIII) announced this morning that both will liquidate as neither will consummate a business combination by their original deadline.
Both will return $10.10 per share to public investors as the anticipated redemption rate with the distribution expected to occur on December 21. ...READ MORE
Webinar: Considerations for Creating Shareholder Value in a Volatile Market
Considerations for Creating Shareholder Value in a Volatile Market
Join us for a virtual panel on December 14, 2022
The current trends of rising interest rates and inflationary cost increases, among other things, have imposed downward pressures on publicly traded equity prices, especially for businesses that became publicly traded via a de-SPAC merger. ...READ MORE
The Latest SPAC News and Rumors: November 28, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Virgin Galactic appoints new top lawyer, Trump Media SPAC rises after investors approve merger deadline extension, and Al Maadeed to be first Qatari to list company on NYSE
Virgin Galactic, Preparing for Liftoff, Appoints New Top Lawyer
Virgin Galactic Holdings Inc. ...READ MORE
PMV Consumer (PMVC) to Liquidate Trust, But Continue Trading
PMV Consumer (OTC PINK:PMVC) announced that it is redeeming all non-insider public shares for approximately $10.09 per share, but it will not be dissolving just yet.
The SPAC is set to provide written redemption notices to each shareholder and trust proceeds are to be distributed within 30 days of these notices. ...READ MORE
The Latest SPAC News and Rumors: November 25, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Ex-Marvel chief takes the wheel at Arrival, Paysafe plans reverse stock split, and Dave Inc.
...READ MORE
Digital World (DWAC) Secures Extension to September 2023
Digital World (NASDAQ:DWAC) announced late Wednesday that its shareholders have approved amending its charter to allow for automatic three-month extensions of its transaction deadline until September 8, 2023.
This brings to close a long drama during which Digital World adjourned the vote without concluding business six times at different meetings in September, October and November. ...READ MORE
Venus Acquisition Corp. (VENA) Secures $25M Backstop for VIYI Algorithm Deal
Venus Acquisition Corp. (NASDAQ:VENA) announced this afternoon that it has secured an investor for a backstop agreement in connection to its business combination with VIYI Algorithm.
Venus and its sponsor, Yolanda Management Corporation, entered into a backstop agreement with Joyous JD Limited to purchase VENA shares from third parties through a broker in the open market, or through privately negotiated transactions, including from SPAC shareholders that had elected to redeem shares. ...READ MORE
Podcast: De-SPACs and Projections – A Discussion with Jim Zukin and Christian Nagler
SPACs and the use of projections have gotten a fair amount of attention this year from both the media and the SEC. And the pending SEC SPAC Rule could have an additional effect on how bankers and SPAC teams handle projections in the future. ...READ MORE
The Latest SPAC News and Rumors: November 23, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Cilo Cybin flops after failing to lure South Africa investors, DWAC wins shareholder support for one year extension, and Watersight adds global companies to AquaRing pilot program
Cannabis SPAC Flops After Failing to Lure South Africa Investors
Cilo Cybin Holdings Ltd., ...READ MORE
ACE Convergence Acquisition Corp. (ACEV) Shareholders Approve Tempo Deal
ACE Convergence (NASDAQ:ACEV) announced this morning that its shareholders have approved its business combination with electronics manufacturer Tempo during a special meeting held on November 17.
The SPAC did not disclose redemption amounts, but shares of ACEV traded above its trust value of $10 throughout its redemption deadline November 15. ...READ MORE
Metals Acquisition Corp. (MTAL) Amends Deal for Glencore CSA Copper Mine
Metals Acquisition Corp. (NYSE:MTAL) announced that it has made a series of amendments to its combination the Glencore’s (LON:GLEN) CSA Copper Mine, shifting some portions of the compensation to contingencies based on commodity prices. ...READ MORE
OceanTech Acquisitions I Corp. (OTEC) Postpones Extension Vote to Nov. 29
OceanTech I (NASDAQ:OTEC) has postponed an extension vote scheduled for later today after receiving high redemption notices.
Shareholders requested to redeem a total of 9,449,599 shares, representing 91.5% of its shares outstanding. ...READ MORE
The Latest Liquidations: November 22, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC Liquidations: Orion, Austerlitz I, Austerlitz II, Fortress Value II, and Fortress Value IV
Orion Acquisition Corp.
...READ MORE
The Latest SPAC News and Rumors: November 22, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: GloriFi to shut down, BM Technologies’ acquisition of Seattle community bank pushed to 2023, and Core Scientific loses $1.7 billion
Texas-based fintech firm GloriFi to shut down
Texas-based fintech firm GloriFi is shutting down and laid off most of its employees, the Wall Street Journal reported on Monday, citing people familiar with the matter. ...READ MORE
