Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Wallbox commits to net zero greenhouse gas emissions goal, Redbox spikes amid retail trader interest, and Nukkleus rebrands as blockchain and digital payments company
Wallbox Commits to Company-Wide Net Zero Greenhouse Gas Emissions Goal by 2030
Wallbox (NYSE:WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, today announced its goal to achieve Net Zero greenhouse gas (GHG) emissions across its global footprint by 2030. This announcement comes on the heels of the release of the company’s first sustainability report since listing on the New York Stock Exchange.
Kensington Capital Acquisition Corp. II completed its combination with EV charging station provider Wallbox in September 2021.
READRedBox Stock Spikes Amid Retail Trader Interest
Shares of RedBox Entertainment have skyrocketed 120 percent in the past five days and analysts are calling on the formerly struggling company to seize the momentum.
The stock surge comes after the DVD-kiosk rental company announced in April that it had secured an additional $50 million in financing, which could help support the company as it looks to move past its recent weak performance. The company had been negatively impacted by a lack of theatrical releases in the previous quarter and recently announced layoffs designed to help cut down its operating expenses.
Seaport Global Acquisition Corp. completed its business combination with home entertainment provider Redbox in October 2021.
READNukkleus Rebrands as Blockchain and Digital Payments Company
Nukkleus, which works on acquiring and scaling high-potential blockchain, digital and multi-asset businesses for retail and institutional markets, has debuted its new website and brand, which will put the firm’s subsidiary brands under the same suite of assets, a press release said.
This comes as the company has proposed to combine with Brilliant Acquisition Corp.(NASDAQ:BRLI), a special purpose acquisition company.
The company’s goal is to develop blockchain technology to use in cross-border payments and digital assets.
READSatellogic Reserves SpaceX Launch Capacity for 68 Satellites
Satellogic Inc. signed a multiple launch agreement with SpaceX to reserve launch capacity for its next 68 satellites. This follows a launch agreement with SpaceX covering 2022 launches. Financial terms of the deal were not disclosed.
Satellogic currently operates 22 high-resolution satellites, including five delivered to orbit on SpaceX’s Transporter-4 mission in April. The Earth observation company is vertically integrated and aims to ultimately grow its constellation to over 200 satellites by 2025 in order to provide daily sub-meter resolution imagery of the entire surface of the Earth and up to 40 revisits of points of interest per day.
The company began trading on the Nasdaq in early 2022 after the completion of its SPAC merger with CF Acquisition Corp. V.
READJournalist Tim Pool Chooses the Rumble Cloud Over AWS
Today, Rumble announced that journalist and podcaster Tim Pool has moved hosting for his company, Timcast Media, to the Rumble Cloud. Pool, a successful podcaster and journalist famous for covering the Occupy Wall Street protests, has amassed millions of subscribers on YouTube and other streaming platforms. Pool’s Timcast Media covers breaking news, politics, and culture. Timcast’s movement to the Rumble Cloud follows Rumble’s successful hosting of Truth Social.
The company announced in December 2021 the execution of a definitive business combination agreement with CF Acquisition Corp. VI (NASDAQ: CFVI).
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At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
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...