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.
READRevelation 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.
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Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...