The Latest SPAC News and Rumors: September 22, 2021

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.

SAB 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).

PACCAR, 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.