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.
READDespite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue 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...