Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Voltus lines up bitcoin mine to provide capacity to PJM, Azerion NV lists in Amsterdam at $1.2B market cap, and Embraer’s subsidiary Eve expects 25% gross profit margin
Voltus Lines Up 100-Megawatt Bitcoin Mine to Provide Capacity to PJM Grid
Voltus Inc., an energy-management services provider, agreed to provide electricity to the biggest U.S. power grid from a cryptocurrency mine that Mawson Infrastructure Group Inc. is developing in Pennsylvania.
The Mawson facility is expected to be completed in June, and its energy will be available when needed by the grid operated by PJM Interconnection LLC, according to a statement Wednesday from San Francisco-based Voltus. The 100 megawatts of capacity the crypto mine can send to PJM is enough to power 80,000 homes.
Voltus recently entered into a definitive merger agreement to combine with Broadscale Acquisition Corp. (NASDAQ:SCLE).
READAzerion NV Lists in Amsterdam at $1.2 Billion Market Capitalization
Azerion Group NV, a digital advertising and entertainment company, on Wednesday listed in Amsterdam after its acquisition by a SPAC, called EFIC1, was completed.
Shares in the new entity traded 2.5% lower at 9.29 euros per share, implying a market capitalization for the company of around 1.04 billion euros ($1.17 billion).
READBrazil Planemaker Embraer’s Subsidiary Eve Expects Gross Profit Margin of 25%
Eve, a subsidiary of Brazil planemaker Embraer SA is expecting to report a gross profit margin of 25% when its electric vertical take-off and landing aircrafts (eVTOLs) start operating in 2026, said the company’s chief financial on Tuesday.
In December, Embraer agreed to combine Eve with Zanite SPAC (NASDAQ:ZNTE) and list it on the New York Stock Exchange. The firm is expected to start trading in the second quarter of 2022, after the closing of the deal with Zanite.
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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...