The Latest SPAC News and Rumors: May 25, 2022
by Marlena Haddad on 2022-05-25 at 11:34am

 


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: MSP Recovery plunges over 60% following merger, and Polestar invests in Israeli fast-charging battery startup


Mega-SPAC Mints a $21 Billion Fortune That Collapses in Minutes

MSP Recovery (NASDAQ:MSPR) was valued at $32.6 billion in its merger with special purpose acquisition company Lionheart Acquisition Corp. II, the largest such combination ever in the US as measured by enterprise value. It began trading Tuesday on the Nasdaq, plunging more than 60% to $3.85 at 10:04 a.m. in New York, less than an hour after its debut.

Miami attorney John H. Ruiz, 55, owns a 65% stake in the company. That position was worth $21.4 billion at the $10 merger price, but plunged to $8.3 billion after MSP began trading.

READ

Polestar Invests in Israeli Extreme Fast-Charging Battery Startup 

Electric vehicle (EV) automaker Polestar is investing in Israeli startup StoreDot, a company working towards producing silicon-based EV batteries that can take on a claimed 160km of range in five minutes.

This is the first financial investment the Swedish-Chinese manufacturer has made in another company, and follows a similar investment from parent company Volvo.

Dubbed ‘100in5’, StoreDot’s technology is slated for production by 2024, and is apparently in “real-world testing by leading automotive manufacturers”.

Gores Guggenheim (NASDAQ:GGPI)  entered into a definitive agreement to combine with Polestar on September 27, 2021.

READ

 

The Latest SPAC News and Rumors: May 25, 2022
Recent Posts
by Nicholas Alan Clayton on 2025-07-01 at 11:33am

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...

by Henrique Santa Rosa, CFA on 2025-07-01 at 11:09am

In June 2025, the SPAC market was marked by a notable rise in meeting delays, with adjournments and postponements playing a central role in extension activity, as sponsors navigated a more cautious market environment. Still, several SPACs secured shareholder approvals, and seven business combinations were completed during the month. At the same time, IPO issuance...

by Kristi Marvin on 2025-07-01 at 8:42am

An In-Depth Look at SPAC Activity Through the Second Quarter & First Half 2025 Below is a summary of the first half of 2025 SPAC market. If you’d like a pdf copy, you can access the link HERE. Q2 kicked off in chaos. President Trump’s shifting and often contradictory tariff announcements sent markets reeling, driving...

by Nicholas Alan Clayton on 2025-07-01 at 8:25am

At the SPAC of Dawn The market is set to be showered with new SPACs today as three more SPACs priced their IPOs overnight, bringing 2025’s total to 66, already surpassing the full-year total of 2024. After hours, Ribbon (NASDAQ:RIBB) also added a new SPAC deal to June’s tally just under the wire, bringing the...

by Nicholas Alan Clayton on 2025-06-30 at 9:04pm

NMP Acquisition Corp. (NASDAQ:NMPAU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NMPAU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company that has a resilient business model with potential to scale up revenue. NMP’s management...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved