Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Trump SPAC surges 1,225%; Algoma Steel expands its Board
Trump-Tied SPAC Ignites Retail Frenzy Amid 1,225% Surge
Shares of Digital World Acquisition Corp. (NASDAQ:DWAC) have skyrocketed 1,225% since an announcement that the blank-check company will merge with Trump Media & Technology Group. The stock nearly tripled to $131.90 when the U.S. stock market opened Friday morning before triggering a halt for volatility after it quadrupled on Thursday.
READAlgoma Steel Expands and Diversifies Board
Algoma Steel Group Inc., with operations based in Sault Ste. Marie, Ontario (NASDAQ: ASTL), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced the addition of six new directors to its Board following the closing of Algoma’s business combination with Legato Merger Corp.
The new directors expand the range of expertise offered, and underscore Algoma’s commitment to bringing diverse perspectives and experience to the boardroom that reflect the broader interests of Algoma stakeholders.
READ
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...