Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Citi temporarily pauses new SPAC issuances, eCombustible Energy receives $11.2M investment, and Rubicon announces multi-year extension agreement with Tuesday Morning
Citi to Pause New SPAC Issuances as SEC Signals Crackdown
Citigroup Inc. is among underwriters that have temporarily paused initial public offerings of new U.S. special purpose acquisition companies until they get more clarity on the potential legal risks posed by recently proposed rules, according to people with knowledge of the matter.
The New York-based bank is awaiting feedback from legal advisers regarding underwriter liability among other topics. The firm has no plans to exit the business.
READeCombustible Energy Receives $11.2M Strategic Investment in Connection with Entry into a $500M Follow-On Contract with Pamesa Group for eCombustible’s Hydrogen-based Fuel Supply in Spain
eCombustible Energy LLC, an innovator and provider of customizable hydrogen-based fuel for thermal industrial applications, has received an $11.2 million strategic investment as well as signed a follow-on contract with Pamesa Grupo Empresarial, S.L. (“Pamesa”), one of Europe’s largest ceramic tile producers, to increase the use of eCombustible fuel at their ceramic products factories in Spain. eCombustible Energy’s contract with Pamesa has a term of 10 years and anticipated revenues of over $500 million.
Benessere (NASDAQ:BENE) entered into a definitive agreement to combine with eCombustible in November 2021.
READRubicon Announces Multi-Year Extension Agreement with Tuesday Morning
Rubicon Technologies, LLC, a digital marketplace for waste and recycling and provider of innovative software-based solutions for businesses and governments worldwide, today announced that it has signed an extended two-year agreement with Tuesday Morning, Inc. (“Tuesday Morning”), a leading destination for unique home and lifestyle goods, to continue to increase the retailer’s waste diversion from landfill, consolidate service, and provide enhanced account management across its portfolio of stores.
Rubicon previously announced an agreement for a business combination with Founder SPAC (Nasdaq: FOUN), which is expected to result in Rubicon becoming a public company listed on the New York Stock Exchange under the new ticker symbol “RBT” in the second quarter of 2022.
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Indigo Acquisition Corp. (NASDAQ:INACU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “INACU”, Tuesday, July 1, 2025. The new SPAC plans to combine with an established, profitable company whose growth potential can benefit from its team’s expertise. Indigo’s management team is...
After a quiet June, July is set to be active throughout the month with nine de-SPACs and sponsors coming unlocked from their trading restrictions. This timing is most fortuitous for insurance investor Abacus Life (NASDAQ:ABL) and East Resources, which took it public in 2023, as it is the best performer of this group of companies...
Pyrophyte II (NYSE:PAII.U) has filed for a $175 million SPAC to dig for a natural resources target while the team’s first deal remains pending. The new SPAC is offering investors 1/2 warrants in each unit and it will have 24 months to complete a business combination without asking shareholders for an extension. It is the...
At the SPAC of Dawn The last day of the quarter is to play host to a pair of shareholder votes and a possible pricing of Indigo‘s (NASDAQ:INACU) $100 million IPO. This week is also to play host to fresh jobs numbers just before the long July 4 weekend. Black Hawk (NASDAQ:BKHA) was also one...
Terms Tracker for the Week Ending June 27, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. June continued its late-month rally with another five SPAC IPOs pricing this week, bringing the monthly total to 10 and the 2025 year-to-date count to...