The Latest SPAC News and Rumors: November 30, 2022

Nov 30, 2022 Headline Post, INTEL, SPACs in the News by Marlena Haddad

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

Latest SPAC News: Lordstown Motors begins shipping Foxconn-made EV pickup trucks, AUM Biosciences receives FDA Orphan Drug Designation, and Newsight Imaging selected for FastLane commercialization program

Lordstown Motors begins shipping its Foxconn-made EV pickup trucks

Lordstown Motors (NASDAQ:RIDE) has starting shipping its all-electric Endurance pickup trucks manufactured by Foxconn, a milestone that seemed impossible earlier this year. ...READ MORE

Lakeshore Acquisition I Corp. (LAAA) Adds $8.2M to PIPE

Nov 30, 2022 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

Lakeshore Acquisition I Corp. (NASDAQ:LAAA) announced in an 8-K filing this morning that it has added $8.2 million in additional financing to its deal with medical device company ProSomnus.

The investment comes in exchange for 820,000 shares, but investors will also receive 619,932 additional shares so that they are effectively buying in at $5.69 per share. ...READ MORE

InterPrivate II Acquisition Corp. (IPVA) Arranges Non-Redemption Agreement

Nov 30, 2022 Deal Announcements & Amendments, INTEL by Marlena Haddad

InterPrivate II Acquisition Corp. (NYSE:IPVA) announced this morning that it has entered into a non-redemption agreement with the Magnetar Funds in connection to its proposed merger with carsharing marketplace Getaround.

Pursuant to the agreement, each non-redeeming stockholder agreed that it will not redeem an amount of shares of Class A Common Stock up to an aggregate of 1,550,000 shares. ...READ MORE

Twin Ridge Capital (TRCA) to Combine with Carbon Revolution in $270M Deal

Nov 30, 2022 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

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The Latest Liquidations: November 29, 2022

Nov 29, 2022 De-SPAC Votes and Redemptions, INTEL, SPACs in the News by Marlena Haddad

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

Latest SPAC Liquidations: Sandbridge X2 Corp., PWP Forward Acquisition Corp. I, Crucible Acquisition Corp.,

Periphas Capital Partnering Corp. (PCPC) to Liquidate

Nov 29, 2022 Headline Post, INTEL by Marlena Haddad

Periphas Capital Partnering Corp. (NYSE: PCPC) announced this afternoon that it has decided to liquidate its trust instead of extending its timeline to find a business combination.

The SPAC’s Board has determined that the company will not be able to negotiate a letter of intent, agreement in principle or definitive agreement for the potential partnering transaction. ...READ MORE

New SPAC: Horizon Space Acquisition 1 Corp. Files for $60M IPO

Nov 29, 2022 Headline Post, INTEL, New S-1 Filings by Marlena Haddad

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Empowerment & Inclusion Capital I Corp. (EPWR) to Liquidate

Nov 29, 2022 Headline Post, INTEL by Marlena Haddad

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

Nov 29, 2022 Headline Post, INTEL, SPACs in the News by Marlena Haddad

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

Nov 29, 2022 Headline Post, INTEL by Nicholas Alan Clayton

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

Nov 28, 2022 Headline Post, INTEL by Kristi Marvin

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

Nov 28, 2022 Headline Post, INTEL, SPACs in the News by Marlena Haddad

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

Nov 25, 2022 Headline Post, INTEL by Nicholas Alan Clayton

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

Nov 25, 2022 Headline Post, INTEL, SPACs in the News by Marlena Haddad

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.

Digital World (DWAC) Secures Extension to September 2023

Nov 25, 2022 De-SPAC Votes and Redemptions, Headline Post, INTEL by Nicholas Alan Clayton

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

Nov 23, 2022 Deal Announcements & Amendments, INTEL by Marlena Haddad

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

Nov 23, 2022 Headline Post, INTEL, Podcasts & Webinars by Kristi Marvin

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

Nov 23, 2022 INTEL, SPACs in the News by Marlena Haddad

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

Nov 23, 2022 De-SPAC Votes and Redemptions, INTEL by Marlena Haddad

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

Nov 23, 2022 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

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