Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Rezolve announces update to 2022 outlook, American Bank partners with Bakkt
Rezolve Now Expects $138 Million Improvement in 2022 Cash Burn Outlook, Maintains 2022 Revenue Assumption of $219 Million
Rezolve, a leader in mobile commerce and engagement, today announced an update to its 2022 outlook, with a substantial improvement in Adjusted EBITDA expected.
Based on the growth in new merchants thus far in 2022 and continued merchant retention, the Company continues to target total revenue of $219 million in 2022, which represents growth of over 190% y/y. The plan assumes over 300,000 merchants are on the Rezolve platform by year end, an increase of over 78% y/y. This plan also assumes that only the $40 million in additional investment proceeds announced at the time of the SPAC merger are received.
On December 17, 2021, Rezolve Limited announced that it had entered into a definitive business combination agreement with Armada Acquisition Corp. I (NASDAQ: AACI).
READAmerican Bank Announces Partnership With Bakkt for New Crypto Trading Offering
Bakkt Holdings, Inc. (NYSE: BKKT), a trusted digital asset platform that enables consumers to buy, sell, send and spend a range of digital assets, today announced that American Bank has selected the Bakkt® crypto connect solution to enable their bank customers to buy, sell and hold the two largest cryptocurrencies by market capitalization, bitcoin and Ethereum.
VPC Impact Acquisition Holdings completed its combination with digital asset marketplace Bakkt Holdings in October 2021.
READSemantix Introduces Data & AI Marketplace to Semantix Data Platform
Semantix, Latin America’s first fully integrated data platform, announced today the availability of a Data & AI Marketplace, consisting of a new array of features that significantly streamline the analytical journey for users of the Semantix Data Platform (known as SDP). The Data & AI Marketplace provides an app store-like experience that puts frequently used data sets and pre-packaged, vertical specific algorithms at the fingertips of data scientists and business analysts around the world.
In November of 2021, Semantix announced that it entered into a definitive agreement to merge with Alpha Capital (NASDAQ: ASPC), a special purpose acquisition company focused on technology.
READAurora and Werner Launch Commercial Pilot to Autonomously Haul Freight in Texas
Today, Aurora Innovation, Inc. (NASDAQ: AUR) and Werner Enterprises (NASDAQ: WERN), a premier transportation and logistics provider, announced a collaboration and commercial pilot to test and safely deploy autonomous trucks on one of the most commercially active and critical stretches of highway in the country.
Starting this week, Aurora Driver-powered trucks are hauling loads between Fort Worth and El Paso on behalf of Werner. This lane represents the middle leg of one of the busiest commercial thoroughfares for Werner and the U.S. trucking industry: Atlanta to Los Angeles. Introducing an autonomous route between Fort Worth and El Paso allows Werner to move freight seamlessly and reliably on a subset of one of its most voluminous lanes.
Reinvent Technology Partners Y completed its combination with autonomous vehicle company Aurora in a special meeting held on November 2, 2021.
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Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...