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The Latest SPAC News and Rumors: October 26, 2021


The Latest SPAC News and Rumors: October 26, 2021

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

Latest SPAC News: Trump-tied SPAC stumbles as retail traders shift focus; Revelation Biosciences engages Destum Partners to identify strategic partners

Trump-Linked SPAC Stumbles as Retail Trading Frenzy Loses Steam

The euphoria surrounding shares in Digital World Acquisition Corp. (NASDAQ:DWAC), the SPAC tied to former President Donald Trump, is showing signs of fizzling out.

Shares of the SPAC fell for a second day on Tuesday after skyrocketing as much as 1,225% last week, as retail traders shifted their focus to other corners of the stock market. Digital World, which is set to merge with Trump’s new social media platform, Trump Media & Technology Group, declined 15% to $71.75 at 10:15 a.m. in New York. It fell nearly 11% on Monday.


Revelation Biosciences Inc. Engages Destum Partners Inc. to Identify Strategic Partners for REVTx-99 and REVTx-200

Revelation Biosciences Inc., a clinical-stage life sciences company that is focused on the development of immunologic-based therapies for the prevention and treatment of disease, announced today that it engaged Destum Partners Inc. to assist in finding an Ex-US development partner for its therapeutic product candidate REVTx-99, and development partner worldwide for its therapeutic product candidate REVTx-200. Both products are designed for the prevention and treatment of respiratory viral infections.

Revelation recently announced that it has entered into a definitive merger agreement with Petra Acquisition, Inc. (NASDAQ: PAIC),which is expected to close in Q4 2021.