Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Nikola expects $125 million penalty in tentative pact with SEC, and Super Group provides update on Betway’s European soccer sponsorship and partnership deals
Nikola Sees $125 Million Fine as It Discusses Deal With SEC
Nikola Corp. (NASDAQ:NKLA) said it is in settlement discussions with U.S. regulators in which the company would pay a $125 million civil penalty, bringing the embattled electric-truck maker a step closer to closing an investigation that’s cast a shadow over its path to production.
The company expects to pay the fine in installments, with a final deal subject to further negotiations with the Securities and Exchange Commission, the company said Thursday as it reported third-quarter financial results. The agency has been examining claims by a short-seller that Nikola deceived investors about its business prospects.
READSuper Group Provides Update on Betway’s European Soccer Sponsorship and Partnership Deals for 2021/22 Season
SGHC Limited, the parent company of leading online sports betting and gaming business Betway, and Spin, the multi-brand online casino, which has entered into a business combination agreement with Sports Entertainment Acquisition Corp. (NYSE: SEAH), today provided an update on Betway’s European soccer sponsorship and partnership deals.
Betway continues to make significant progress expanding its presence and commercial relationships across Europe’s top soccer leagues, recently renewing its sponsorship deal with Belgium’s Croky Cup, the country’s most renowned knockout competition, and becoming the official sports betting partner of the 11-time La Liga winner Atlético de Madrid in Spain.
READAt the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...
At the SPAC of Dawn Ever since Digital World announced its combination with Trump Media (NASDAQ:DJT) back in October 2021, it was clear that SPACworld and the Trump show were set to be intertwined for quite some time. And, although not every headline has a bearing on the wider SPAC world, Trump Media’s post-close rise...
AltC (NYSE:ALCC) has reportedly been taking the pitch deck for its combination with nuclear fission firm Oklo on the road in recent weeks, which has generated the rare result of a SPAC trading significantly above its trust value still well before completing its deal. The SPAC has an estimated $10.59 per share in its trust...
Trump Media (NASDAQ:DJT) is down about -15% in the pre-market following the filing of its first S-1 since closing its combination with Digital World, and this includes the issuance of the 21,491,251 shares. Of these, 14,375,000 are to be made available for those exercising warrants while the rest would go out to note holders from...