The Latest SPAC News and Rumors: April 8, 2022

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

Latest SPAC News: Dune SPAC sues TradeZero, Tiket mulls Blibli merger before Jakarta IPO, and BlackSky looks to expand military business

Dune SPAC Sues TradeZero for ‘Outright Falsehoods’ About Merger

Top 3 SPAC Targets – Recession-Proof Companies

SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among companies set to see increased demand among companies that could prove resilient of even benefit should the US tip into recession. ...READ MORE

The Latest SPAC News and Rumors: April 7, 2022

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

Latest SPAC News: Drew Barrymore joins Grove Collaborative 

Drew Barrymore Joins Grove Collaborative to Build a Plastic-Free Future

Grove Collaborative, a leading sustainable consumer products company and Certified B Corp, announced today actress and entrepreneur Drew Barrymore has joined the Company as an investor and its first-ever Global Brand and Sustainability Advocate. ...READ MORE

The Latest SPAC News and Rumors: April 6, 2022

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

Latest SPAC News: Rezolve announces update to 2022 outlook, American Bank partners with Bakkt

Rezolve Now Expects $138 Million Improvement in 2022 Cash Burn Outlook, Maintains 2022 Revenue Assumption of $219 Million

Rezolve, a leader in mobile commerce and engagement, today announced an update to its 2022 outlook, with a substantial improvement in Adjusted EBITDA expected. ...READ MORE

Spring Valley Acquisition Corp. (SV) Adds $15M PIPE to NuScale Deal

Spring Valley (NASDAQ:SV) has added $15 million to the PIPE for its combination with nuclear power company NuScale, bringing the deal’s total PIPE proceeds to $236 million.

The transaction’s PIPE now exceeds Spring Valley’s $232 million trust and the parties had already secured the deal’s $200 million minimum cash condition with previous PIPE additions. ...READ MORE

Zanite Acquisition Corp. (ZNTE) Adds $10M PIPE to Eve Deal

Zanite (NASDAQ:ZNTE) announced this afternoon that it has added $10 million to its PIPE for its combination with electric vertical take-off and landing vehicle (eVTOL) manufacturer, Eve.

Zanite amended the subscription agreement yesterday with a direct wholly-owned subsidiary of Embraer (EAH) pursuant to which EAH purchased an additional 1,000,000 shares for $10 million.  ...READ MORE

The Latest SPAC News and Rumors: April 5, 2022

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

Latest SPAC News: Citi temporarily pauses new SPAC issuances, eCombustible Energy receives $11.2M investment, and Rubicon announces multi-year extension agreement with Tuesday Morning

Citi to Pause New SPAC Issuances as SEC Signals Crackdown

Citigroup Inc. is ...READ MORE

MDH Acquisition Corp. (MDH) Terminates Olive.com Deal

MDH Acquisition Corp. (NYSE:MDH) has mutually terminated its combination agreement with digital auto insurance provider Olive.com.

The press release did not include a reasoning for the breakup, but like many deals in the first half of 2022, the general malaise in the current market was the likely culprit. ...READ MORE

The Latest SPAC News and Rumors: April 4, 2022

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

Latest SPAC News: DWAC slides after key executives quit, FinAccel spends $200M for Indonesia digital banking push, and Hertz buys 65,000 EVs from Polestar

Trump-Tied Social Media SPAC Slides After Key Executives Quit

Shares of the shell company taking Donald Trump’s media venture public extended their selloff after a report that a pair of key executives resigned and Elon Musk bought a sizable stake in social media competitor Twitter Inc. ...READ MORE

Virgin Group II (VGII) Adds $50M Backstop to Grove Collective Deal

Virgin Group II (NYSE:VGII) announced it has added a $50 million backstop to its combination with sustainable home goods-maker Grove Collective.

Grove has also agreed to waive its minimum cash condition in exchange for the new agreements and Virgin Group II’s promote shares are no longer to be subject to earn-out terms. ...READ MORE

The Latest SPAC News and Rumors: April 1, 2022

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

Latest SPAC News: Trump Social SPAC sinks as downloads slump 95%, SPAC seizes on SEC’s proposed rules to fight investor suit, and France’s InVivo plans retail tie-up

SPAC Tied to Trump’s Social Media Venture Sinks as Downloads Slump 95%

Shares of the blank-check firm bringing Donald Trump’s media venture public are sinking with daily downloads for the former president’s social media app declining 95% since launching last month. ...READ MORE