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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Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...
At the SPAC of Dawn Ever since Digital World announced its combination with Trump Media (NASDAQ:DJT) back in October 2021, it was clear that SPACworld and the Trump show were set to be intertwined for quite some time. And, although not every headline has a bearing on the wider SPAC world, Trump Media’s post-close rise...
AltC (NYSE:ALCC) has reportedly been taking the pitch deck for its combination with nuclear fission firm Oklo on the road in recent weeks, which has generated the rare result of a SPAC trading significantly above its trust value still well before completing its deal. The SPAC has an estimated $10.59 per share in its trust...
Trump Media (NASDAQ:DJT) is down about -15% in the pre-market following the filing of its first S-1 since closing its combination with Digital World, and this includes the issuance of the 21,491,251 shares. Of these, 14,375,000 are to be made available for those exercising warrants while the rest would go out to note holders from...
At the SPAC of Dawn This week, bookended by the end of Ramadan and the beginning of Passover, could wind up stacked with events to avoid those holiday times, but for now SPACs have scheduled just six extension votes for this stretch. Redwood (NASDAQ:RWOD) and Genesis Growth Tech (OTC:GGAAF) have yet to release results from...