Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SEC tightens SPAC accounting rules, Mahindra weighs funding options for electric supercar unit, and Lucid to start deliveries of electric sedans
U.S. SEC Cracks Down a Second Time on SPAC Equity Accounting Treatment
The U.S. Securities and Exchange Commission has told top auditors of SPACs to account more strictly for public shares in these shells, according to multiple industry accountants and lawyers familiar with the change.
SEC staff have privately told auditors that “redeemable” shares issued by these shells must be treated as temporary – known as “mezzanine” – equity, in a break from the long-standing industry practice of treating them as permanent equity, according to Reuters.
Mahindra Is Said to Weigh Electric Supercar Unit Funding Options
Mahindra & Mahindra Ltd. is weighing options to raise funds for its Automobili Pininfarina unit as it seeks to bring a delayed $2.2 million electric hypercar into production, Bloomberg said.
A merger with a blank-check company is one scenario being studied for Automobili Pininfarina and Mahindra could seek to value the unit at around $500 million.
READLucid to Start Deliveries of Electric Cars With Range Exceeding Tesla’s in October
U.S. startup Lucid Group Inc. (NASDAQ:LCID) said on Tuesday it will start delivering luxury electric sedans with a Tesla-beating driving range in late October, posing a major challenge to the market leader whose sales of premium models have stagnated.
Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...
This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...
At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...