Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Ginkgo Bioworks Q4 revenues quadruple, and Volta sees sharp drop after founders resign
Ginkgo Bioworks Reports Fourth Quarter and Full Year 2021 Financial Results
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA, “Ginkgo”), the leading horizontal platform for cell programming, today announced its results for the fourth quarter and year ended December 31, 2021.
Fourth quarter highlights include total revenue of $148 million, up from $32 million in the comparable prior year period, an increase of 363%, and foundry revenue of $34 million, up from $16 million in the comparable prior year period, an increase of 108%.
READVolta Plunges After Founders of EV-Charging Company Resign
Volta Inc. (NYSE:VLTA) dropped sharply after the electric-vehicle charging company announced the abrupt departures of two top executives, both of them founders of the firm. The resignations of Chief Executive Officer Scott Mercer and President Chris Wendel came a week after the San Francisco-based firm postponed reporting its latest quarterly earnings, although it was unclear if there was any connection between the events.
Volta fell 18% to $3.37 on Monday, after hitting an all time low earlier in the day. The company went public last year through a merger with Tortoise Acquisition Corp. II.
READMajor SPAC News, Rules May Be Coming This Week
On Thursday, March 24th, the Securities and Exchange Commission announced an agenda for a March 30th open meeting for the Divisions on Corporate Finance and Investment Management. The meeting has only one agenda item: SPACs, shell companies, and projections.
In December 2021, SEC Chair Gary Gensler compared SPACs to traditional IPOs, and noted that there may be different levels of disclosure provided to various parties involved in SPAC transactions. He further made reference to future regulatory action on SPACs.
READKhazna to Launch SPAC in 2024
Financial services startup Khazna is planning to establish a SPAC in collaboration with international investors in 2024, Khazna’s co-Founder and CEO Omar Saleh told Shorouk News.
The company is also seeking local and international initial public offerings (IPO), Saleh added.
READTransfix Launches New Brand Identity and Positioning Showcasing Leadership and Momentum in New Logistics Era
Transfix, the Intelligent Freight Platform™, today announced an updated brand identity and positioning reflecting the company’s leadership and momentum in the digital freight sector.
As announced on September 21, 2021, Transfix has entered into a definitive business combination agreement with G Squared Ascend I Inc. (NYSE: GSQD), a SPAC sponsored by affiliates of G Squared, that is expected to result in Transfix becoming a publicly listed company.
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Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...