Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lucid investors could be forced to endure windfall, and Aurora says its next generation hardware kit will debut later this year
Lucid’s SPAC Investors Could Be Forced to Endure a Windfall
With Lucid (NASDAQ:LCID) hovering around $21.70, investors could almost double their money. However, the catch is that if Lucid closes above $18 for 20 of 30 trading days — a hurdle cleared as of this week — it can demand that public holders use the warrants right now.
This means investors would lose their risk-free chance to reap huge benefits from the EV revolution if things work out, and anyone who refuses would see their warrants effectively wiped out.
On top of that, investors have to come up with fresh cash to exercise the warrants, with Lucid getting about half a billion dollars. Adding some insult to injury, insiders who hold their own series of private warrants wouldn’t necessarily have to turn them in.
READAurora Closes in On Production Version of Self-Driving Truck Technology
Mountain View, California-based Aurora Innovations (NASDAQ:RTPY) says its new hardware kit Fusion will debut in commercial pilots this year and will lay the foundation for the production version and launch of the trucking and ride-hailing business.
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Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...