Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lucid gets SEC subpoena, Zaoui brothers take BenevolentAI public, and VT5 launches Switzerland’s first SPAC
EV Maker Lucid Gets SEC Subpoena on $24 Bln Blank-Check Deal
The U.S. securities regulator has asked Lucid Group Inc (NASDAQ:LCID) for documents related to an investigation into its blank-check deal, joining a growing list of companies that have come under scrutiny for their merger with shell companies.
Shares of the luxury electric-car maker fell about 14% in pre-market trading on Monday after disclosing that it had received a subpoena from the U.S. Securities and Exchange Commission on Dec. 3.
READZaoui Brothers Take U.K. Drugmaker Startup Public Via SPAC
BenevolentAI, a U.K. startup that uses artificial intelligence to develop drugs, is going public at a 1.5 billion euros ($1.7 billion) valuation via a SPAC from investment banker brothers Michael and Yoel Zaoui.
BenevolentAI will combine with Odyssey Acquisition SA, a 300 million-euro blank check company that the Zaoui brothers listed on Euronext Amsterdam in July, according to a statement on Monday.
READVT5 Launches Switzerland’s First SPAC, Eyes Tech Deals
VT5 Acquisition Company is launching an IPO on the SIX Swiss Exchange in Switzerland’s first special SPAC deal, it said on Monday.
A bookbuilding for up to 200 million Swiss francs ($217 million) will start on Dec. 9, with 177.7 million francs in secured commitments from cornerstone investors including Artemis Group, Point Break Capital LP and sponsor Veraison, as well as anchor investors.
READSPAC Tied to Trump’s Social Media Venture Receives Inquiries From U.S. SEC
The blank check firm taking former U.S. President Donald Trump’s social media venture public said on Monday it has received fact-finding inquiries from financial regulators as it gave investors a first look into its business ahead of its stock market listing.
Digital World Acquisition Corp (NASDAQ:DWAC) said it had received a request for information from the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA).
READBuzzFeed Soars as Trading Begins in Test for Digital Media
BuzzFeed Inc. (NASDAQ:BZFD) shares surged in their first day of trading, a sign of fresh optimism after a shaky lead-up to the online media company’s public debut.
BZFD jumped as much as 45% at the start of trading in New York. They were up 36% at 10:08 a.m. Shares of 890 5th Avenue Partners Inc. had closed at $9.62 on Friday.
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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...