Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Pakistan introduces regulatory framework for SPACs, SAB Biotherapeutics awarded $60.5M for COVID-19 treatment, and Aurora teams up with PACCAR and FedEx
Public Offering Regulations Amended for SPAC Framework
The Securities and Exchange Commission of Pakistan (SECP) has amended the Public Offering Regulations, 2017 to introduce a regulatory framework for SPACs.
Under the proposed regulatory framework, SPACs shall be a public limited company having a paid-up capital of not less than Rs10 million. The SPACs promoters/sponsors, directors and CEO shall meet the fit and proper criteria.
READSAB Biotherapeutics Awarded $60.5M from BARDA and U.S. Department of Defense for Rapid Response Capability and Advancing SAB-185 for Treatment of COVID-19
SAB Biotherapeutics (SAB), a clinical-stage biopharmaceutical company with a novel immunotherapy platform that produces specifically targeted, high-potency, fully-human polyclonal antibodies without the need for human donors, today announced that the U.S. Department of Defense has awarded the company an additional $60.5 million in expanded scope for its DiversitAb™ Rapid Response Antibody Program for advanced clinical development through licensure and commercial manufacturing for SAB-185, the company’s therapeutic candidate for the treatment of COVID-19.
The new award expands the scope of SAB’s existing DiversitAb™ Rapid Response Antibody Program contract with the Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense, Joint Project Lead CBRND Enabling Biotechnologies.
On June 22, SAB announced a planned merger with Big Cypress Acquisition Corp. (NASDAQ: BCYP).
READPACCAR, Aurora and FedEx Launch Autonomous Truck Commercial Pilot
PACCAR (NASDAQ:PCAR) has teamed up with Aurora, a leading autonomous driving technology company, and FedEx (NYSE:FDX), one of the largest transportation and logistics companies in the world, to launch a commercial pilot of autonomous trucks in linehaul trucking operations.
This is the first collaboration of its kind between a truck manufacturer, an autonomous technology developer and a logistics provider.
On July 15, Reinvent Y (NASDAQ:RTPY) entered into a definitive agreement to combine with Aurora.
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News and Rumors PR: Bannix (NASDAQ:BNIX) has provided more information on the combination with VisionWave that it announced yesterday, specifying that the imaging technology that VisionWave will acquire from GBT Technologies will primarily seek out applications in military combat scenarios and geological surveys. PR: Grove Collaborative (NYSE:GROV), which combined with Virgin Group II in June...
At the SPAC of Dawn Fed Chair Jerome Powell has given new hints that the administration would be showing greater levels of comfort with inflation if a cut could help improve unemployment numbers. Those numbers could get an update today at 8:30 am ET to bring new jobless claims as well as final prices for...
News and Rumors CNBC: Former WeWork (OTC Pink:WEWKQ) founder Adam Neumann has offered to buy back control of the company for $500 million but has yet to secure the necessary financing. WeWork went public with BowX in October 2021. PR: Satellite telecom firm Spire Global (NYSE:SPIR) has signed an agreement to build and launch two...
Bannix (NASDAQ:BNIX) has entered into a definitive agreement to combine with VisionWave Technologies for $30 million. The combined company is expected to trade on the Nasdaq once the deal is completed with an initial outside date of September 14. Transaction Overview Bannix has about $17 million in its trust after seeing 77.4% of its shares...
At the SPAC of Dawn Much of the attention yesterday was on tracking the swings of the newly-completed Trump Media (NASDAQ:DJT) deal with the FT going as far to suggest it may “make SPACs great again.” Not all of the day’s data points were on the positive side of the ledger, however. IB Acquisition Corp....