Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Electric Last Mile discloses SEC probe, Ginkgo Bioworks acquires FGen AG, and Astra announces multi-launch contract and first launch with Spaceflight Inc.
Electric Last Mile Discloses SEC Probe, Warns of Cash Crunch
Electric Last Mile Solutions Inc. (NASDAQ:ELMS) said it’s under investigation by the U.S. Securities and Exchange Commission, just weeks after both its chairman and chief executive officer resigned following an internal probe of improper stock purchases.
The electric-vehicle startup learned of the investigation by the SEC’s Division of Enforcement on March 7, according to a regulatory filing Friday. The company also said it’s withdrawing previous guidance and will need to raise cash to get vehicles to market.
Forum Merger III Corp. shareholders approved its combination with electric vehicle (EV) company Electric Last Mile Inc., at a special meeting on June 24, 2021.
READGinkgo Bioworks Signs Definitive Agreement to Acquire FGen AG
Ginkgo Bioworks (NYSE: DNA), the leading horizontal platform for cell programming, today announced the entry into a definitive agreement to acquire FGen AG, a Swiss company specializing in strain development and optimization.
FGen has developed an ultra-high-throughput (uHT) screening platform built on nanoliter reactor technology. Ginkgo believes that FGen’s technology will significantly enhance Ginkgo’s cell screening capabilities and enable Ginkgo to explore wider expanses of genetic opportunity space, increasing the likelihood of finding enzymes, pathways, and strains or cell lines that perform to diverse product specifications.
Soaring Eagle Acquisition Corp. entered into a definitive agreement to combine with cell programming company Ginkgo Bioworks Inc. last year in May.
READAstra Announces Multi-Launch Contract and First Launch with Spaceflight Inc.
Astra Space, Inc. (NASDAQ: ASTR) and Spaceflight Inc., the leading global launch services provider, today announced a multi-launch contract. The first launch under this contract is planned for today, March 14, 2022, with a window opening at 9:22am PDT / 16:22 UTC out of the Astra Spaceport in Kodiak, Alaska, but may be shifted to March 15, 2022 depending on conditions at the launch site. This agreement provides Spaceflight with launch opportunities using Astra’s launch services through 2025.
Holicity, Inc. completed its combination with space venture Astra following a shareholder approval vote on June 30, 2021.
READGreenLight Biosciences Holdings, PBC (GRNA) Enters Into Multitarget Licensing Agreement With Serum Institute of India to Develop and Commercialize Messenger RNA Products for Emerging Markets Globally
GreenLight Biosciences Holdings PBC today announced a licensing agreement with Serum Institute of India, Pvt, Ltd., aimed at accelerating accessibility to messenger RNA products in emerging markets globally.
Serum Institute of India (SII) is the world’s largest vaccine manufacturer by number of doses produced and sold. GreenLight Biosciences is a public benefit corporation whose RNA platform focuses on discovery, design, development, manufacturing, and commercialization of products for human, animal, and plant health.
Environmental Impact Acquisition Corp. completed its combination with biotech firm GreenLight in a special meeting held on February 2.
READDNEG Scores BAFTA Award for Special Visual Effects on “Dune”
DNEG, a leading technology-enabled visual effects (VFX) and animation studio for the creation of feature film, television and multiplatform content, received the British Academy of Film and Television Arts (BAFTA) award for Special Visual Effects for its work on Dune.
Four out of the five films nominated in the BAFTA’s Special Visual Effects category featured DNEG-led VFX work; the other nominees were No Time To Die, The Matrix Resurrections and Ghostbusters: Afterlife.
On January 25, 2022, DNEG announced its entry into a definitive business combination agreement with Sports Ventures Acquisition Corp. (Nasdaq: AKIC).
READTerms Tracker for the Week Ending April 25, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Everybody’s back in the pool. Two more SPACs filed this week while four others priced their IPOs. Additionally five SPACs announced their combinations, breaking the...
At the SPAC of Dawn After a cheery string of good news indicators, futures remain green heading into the final trading session of the week. The final reading for consumer sentiments is to come at about 10 am, which will hopefully match the market’s recent mood. There is some time delay on this indicator, however,...
Inflection Point Acquisition Corp. III (NASDAQ:IPCXU) announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “IPCXU”, Friday, April 25, 2025. The new SPAC aims to combine with a disruptive technology company in North America or Europe that is customer-focused and adaptable to...
Crane Harbor Acquisition Corp. (NASDAQ:CHACU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CHACU”, Friday, April 25, 2025. The Company’s primary focus will be to identify companies in the technology, real assets, and energy sectors. Crane Harbor’s management team is led...
Flag Ship Acquisition Corporation (NASDAQ:FSHP) has entered into a definitive agreement to combine with Great Future under so far undisclosed terms. Transaction Overview Flag Ship has about $71.6 million in its current trust and has until September 20, 2025 to complete a business combination but may extend up to nine times for one month each...