Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: DWAC jumps after Trump posts on Truth Social, and Eve provides business updates
Stock of SPAC Buying Truth Social Jumps After Trump Posts for First Time in Months
Shares of Digital World Acquisition Corp. (NASDAQ:DWAC), the special purpose acquisition company that is buying the company behind Donald Trump’s Truth Social, soared in after-hours trading Thursday after Trump posted a message on the platform for the first time in months.
“I’M BACK! #COVFEFE,” Trump posted on Truth Social on Thursday afternoon, with a photo of himself at his Mar-a-Lago estate in Florida. “Covfefe” was one of Trump’s more infamous Twitter typos, which grew into a meme of its own.
Shares of DWAC initially shot more than 25% higher late Thursday after Trump’s post, which suggested the former president may be more active on the fledgling social network, though gains settled to 15% by the end of the extended session. That was after the stock closed the regular trading day up about 8%, at $48.06.
Eve Announces Business Updates in Preparation for Closing of Business Combination with Zanite
Eve UAM, LLC, an Embraer S.A. company and a leader in the development of next-generation Urban Air Mobility solutions, today announced a summary business update on several previously disclosed key milestones relating to its business and plans to go public through a proposed business combination with Zanite Acquisition Corp. (Nasdaq: ZNTE). The Business Combination includes a previously announced $357.3 million PIPE, inclusive of a $52.3 million upsize, which includes commitments from strategic partners Thales, Acciona and Space Florida, as well as an increased commitment by Embraer Aircraft Holding, Inc., a direct subsidiary of Embraer.
The Company also announced a number of new developments and business agreements in its UAM portfolio of solutions as it seeks to reshape the future of UAM.
READBlue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...
At the SPAC of Dawn Ever since Digital World announced its combination with Trump Media (NASDAQ:DJT) back in October 2021, it was clear that SPACworld and the Trump show were set to be intertwined for quite some time. And, although not every headline has a bearing on the wider SPAC world, Trump Media’s post-close rise...
AltC (NYSE:ALCC) has reportedly been taking the pitch deck for its combination with nuclear fission firm Oklo on the road in recent weeks, which has generated the rare result of a SPAC trading significantly above its trust value still well before completing its deal. The SPAC has an estimated $10.59 per share in its trust...