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The Latest SPAC News and Rumors: July 30, 2021


The Latest SPAC News and Rumors: July 30, 2021

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

Latest SPAC News: Manscaped in talks to merge with Bright Lights, Nikola founder Milton charged for false statements, and MENA region sees more SPAC deals

Grooming Startup Manscaped Holds Bright Lights SPAC Talks

Manscaped, a startup that sells products for “below-the-waist hygiene,” is in talks to merge with blank-check firm Bright Lights Acquisition Corp. in a transaction that could value it at about $1.4 billion.


Nikola Founder Milton Faces Charges He Lied to Support Stock

Nikola Corp. founder and former chairman Trevor Milton has been charged by prosecutors with making false statements to investors in the electric-vehicle startup, Bloomberg reported. The charges follow a difficult year for the company, which went public and almost immediately faced questions about its production and technology.


MENA Region to See More SPAC Deals

SPACs are trending in MENA, which indicates that the startup ecosystem is evolving into a stronger and resilient sector, attracting global players and giving a boost to regional talent.

The three top regions that are leading and complementing the regional growth are the UAE, Egypt, and Saudi Arabia.


SEC Clamps Down on Chinese IPOs With New Requirements for Risk Disclosures

Chinese companies will be unable to go public in the U.S. unless they make new risk disclosures, according to a statement released Friday morning from SEC chair Gary Gensler.

It’s not yet clear if this would affect Chinese companies going public in the U.S. via SPAC. The SEC registration process on such deals is technically for the SPAC, not for the company being acquired.