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.
READElectric 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.
READCompoSecure 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 KeyTM card, the next generation of cryptocurrency cold storage, which is combined with the Arculus WalletTM 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).
READIndustry-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.
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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...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...