Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Lordstown Motors shares soar following production announcement, and Hong Kong’s SPAC reform discussed at the China Conference
Lordstown Motors Jumps on Outlook for Production Through May
Lordstown Motors Corp. jumped after saying it has enough money to make its battery-powered trucks through May of next year, paring a record decline the previous day following the departure of two top executives, according to Bloomberg.
The automaker is actively raising additional funds and has reconfirmed orders for its debut vehicle, President Rich Schmidt said Tuesday at an Automotive Press Association event in Detroit.
The shares closed up 11% to $10.31 in New York, clawing back part of a 19% plunge on Monday.
READHong Kong Stock Exchange Would Need Reforms To Allow SPACs And Smaller Companies To Raise Funds
Leading market experts called on the Hong Kong exchange to allow SPACs to raise funds and adopt a disclosure-based model to attract international firms and tweak rules to help smaller companies launch IPOs.
“I don’t think Hong Kong is too late to allow SPACs to raise funds,” Li told the annual China Conference organized by the South China Morning Post on Wednesday.
READAt the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...