Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lucid recalls EV sedans due to safety defect, Phunware sued by angel investors, and Gogoro manufactures one-millionth battery
Lucid Is Recalling About 200 High-End EV Sedans Due to a Safety Defect
Lucid Group Inc.(NASDAQ:LCID), a maker of luxury electric vehicles, is recalling about 200 cars due to a safety defect that could increase the likelihood of collisions.
A piece on the Lucid Air’s front strut dampers may have been installed incorrectly due to an error by a supplier, the company said in an email to customers that was seen by Bloomberg. “This condition may result in a sudden loss of ground clearance, vehicle vibration and front brake line damage, increasing the risk of a crash,” Newark, California-based Lucid told customers.
READPhunware Sued by Angel Investors Challenging SPAC Stock Lockup
A group of Phunware Inc. (NASDAQ:PHUN) investors sued the business and its leaders in Delaware, claiming they were wrongly subjected to a stock lockup clause after its reverse merger with a blank-check company, even though the provision only covers insiders and shareholders with stakes larger than 1%.
The lawsuit, filed Feb. 18 by more than dozen individual stockholders and investment firms, targets the mobile marketing and cryptocurrency services company, along with current and former members of its board and senior management.
Gogoro Manufactures One-Millionth Battery, Demonstrates Success of Open Battery Swapping Ecosystem
Gogoro® Inc., a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced it has manufactured its one-millionth battery. Launched in 2015, Gogoro Battery Swapping has become the de facto battery swapping standard for two-wheel vehicles in Taiwan, powering 95% of all electric two-wheelers. Gogoro’s open battery swapping ecosystem in Taiwan currently supports seven different vehicle brands and accounted for more than 25% of all two-wheelers sold in Taipei in December 2021.
Gogoro entered into a definitive agreement to combine Poema Global (NASDAQ:PPGH) last year on September 16.
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Terms Tracker for the Week Ending April 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Passover and school spring break starts next week, which most likely means a slowdown in SPAC filing activity. Although Churchill IX is now rumored to...
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...