Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: D-Orbit signs contract with European Space Agency and Polestar begins delivering on EV partnership with Hertz
D-Orbit Signs Contract with the European Space Agency (ESA) for the Improvement of Production Capabilities Related to Space Transportation
D-Orbit, the space logistics and transportation company that is going public through a transaction with Breeze Holdings Acquisition Corp. (NASDAQ: BREZ), has signed a €1,950,343 (approximately $2 million) contract with the European Space Agency (ESA) under BOOST, the Agency’s Commercial Space Transportation Services and Support to Member States Programme. The sum represents 80% of the total budget of the activities to be carried out in the frame of the contract.
Through this contract ESA will provide funding for the development of an improved production system by introducing lean manufacturing principles and testing that will enable D-Orbit to increase the performance and responsiveness of its proprietary orbital transfer vehicle (OTV) ION Satellite Carrier (ION), while driving down the cost.
READPolestar begins delivering on 65,000 electric vehicle partnership with Hertz
Polestar, the Swedish electric performance car manufacturer, has begun delivering new Polestar 2 electric cars to Hertz as part of the agreement announced in April 2022, under which Polestar will supply the global car rental giant with 65,000 cars over the next five years.
Polestar intends to list on the Nasdaq in a proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), which is expected to close in June 2022.
READIsraeli 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...