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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Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....
1RT Acquisition Corp. (NASDAQ:ONCHU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ONCHU”, Wednesday, July 2, 2025. The new SPAC plans to target company in the digital asset ecosystem involved in the creation, storage, exchange or management of such assets, whether...
D. Boral ARC Acquisition II Corp. (NASDAQ:ARBCU) has filed for a $250 million SPAC to give underwriter D. Boral a second in-house SPAC to pursue deals with. The new SPAC offers investors a 1/2 warrant and an initial 18-month time frame to complete a deal. D. Boral II’s sponsor may automatically extend this once by...
Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...