The Latest SPAC News and Rumors: October 13, 2021

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: SEC leans on SPACs for detailed disclosures, Lordstown Motors appoints new CFO, and CompoSecure announces cryptocurrency product Arculus Key Card

SEC Leans on SPACs for Detailed Disclosures of Risk, Controls

Wall Street’s top regulator promises to issue new, tougher rules for SPACs, but the agency already has ramped up its scrutiny of the blank-check companies that became market sensations in 2020.

The SEC is questioning growth projections, asking for details about risks, and seeking more information about the internal controls of individual SPACs, according to comment letters it has sent to companies.

Electric Truck Maker Lordstown Motors Names Adam Kroll as CFO

Electric-truck maker Lordstown Motors Corp (NASDAQ:RIDE) named Adam Kroll as chief financial officer, months after the departure of former CEO and finance chief following an internal investigation into claims made by a short-seller.

CompoSecure Announces General Availability and Shipping of Its Arculus Key Card

CompoSecure, L.L.C., a leading provider of premium financial payment cards and emergent provider of cryptocurrency storage and security solutions, today announced it has begun shipping its Arculus Key^TM card, the next generation of cryptocurrency cold storage, which is combined with the Arculus Wallet^TM mobile app that is now available for a free download on iOS and Android app stores.

The Arculus solution uses 3-factor authentication and provides air-gapped protection (i.e., not connected to the internet at all) against hacking and theft, and is the size and shape of a metal credit card.

On April 19, CompoSecure entered into a definitive merger agreement to combine with Roman DBDR Tech Acquisition Corp. (NASDAQ:DBDR).

Industry-veteran Elisa Cascade Joins Science 37 as Chief Product Officer; Chris Ceppi Appointed Chief Technology Officer

Science 37, the Operating System for today’s more agile clinical trials, announced Elisa Cascade has joined Science 37 and its senior executive team as Chief Product Officer. Science 37 veteran Chris Ceppi has been appointed to serve as Chief Technology Officer.

LifeSci II shareholders approved its combination with Science 37 (NASDAQ:SNCE) on October 4.