Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Electric Last Mile plans to liquidate, Mondee partners with EBG, and federal regulators deepen probe into Trump’s social media deal
EV-Truck Startup Electric Last Mile Says It Plans to Liquidate
Electric Last Mile Solutions Inc. (NASDAQ:ELMS) plans to liquidate its operations about a year after the electric-vehicle startup went public and just four months after both its chief executive officer and chairman resigned.
The Troy, Michigan-based company said in a statement late Sunday that its board and interim CEO, Shauna McIntyre, decided to liquidate through a Chapter 7 bankruptcy process. The decision comes after a review of Electric Last Mile’s products and plans turned up no better option for stockholders, creditors and other interested parties, it said.
READMondee Partners With EBG on Travel and Entertainment Technology Platforms and Subscription Based Marketplaces
Mondee Holdings II, Inc. (“Mondee”), the fast-growth, travel technology company and marketplace, with a portfolio of globally recognized platforms and brands in the leisure, retail and corporate travel sectors, today announced that it has signed a strategic partnership with EBG to exchange access to technology, customer networks and a broad array of travel options, attractions and events.
Mondee expects to complete its previously announced business combination with ITHAX Acquisition Corp. (Nasdaq: ITHX) in the first half of 2022.
READFederal regulators deepen probe into Trump’s social media deal
Special purpose acquisition company Digital World Acquisition Corp (NASDAQ:DWAC) disclosed on Monday financial regulators probing its deal with former U.S. President Donald Trump’s social media firm have sought more information, while warning this could potentially delay the deal.
Shares of the SPAC, which have lost nearly 15% so far this year, were down about 10% in premarket trading. The company signed a deal in October to merge with Trump Media & Technology Group Corp (TMTG), the creator of social media platform Truth Social.
READPolestar Wins Car Design and Auto Trader Awards on the Back of Record Order Demand
Polestar has won the 2022 Best Brand Design Language award at the prestigious international Car Design Awards. Polestar’s Head of Design, Maximilian Missoni, received the Brand Design Language trophy at a ceremony held in Milan at the ADI Design Museum on 10 June.
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.
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A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...
Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...