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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At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
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...