Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Enjoy Technology files for bankruptcy, D-Orbit signs launch and deployment contract with Kepler Communications and Bird CEO steps down as president
SPAC Led by Former Apple Executive Goes Bankrupt Less Than a Year After Going Public
Enjoy Technology Inc. (NASDAQ:ENJY), a retail startup founded by former Apple Inc.executive Ron Johnson, filed for bankruptcy on Thursday — less than a year after going public through a merger with a blank-check company.
The company plans to keep operating and sell itself to Asurion LLC while in Chapter 11 bankruptcy, court papers show. Asurion has agreed to lend $52.5 million of new money to fund the Chapter 11 case.
READD-Orbit Signs Launch and Deployment Contract with Leading Satellite Telecom Provider Kepler Communications
D-Orbit, the space logistics company that is going public through a transaction with Breeze Holdings Acquisition Corp. (NASDAQ: BREZ), today announced the signing of a launch and deployment contract with Kepler Communications, a private telecommunications company based in Toronto, Ontario, Canada.
As previously announced on January 27, 2022, D-Orbit entered into a business combination agreement with Breeze Holdings Acquisition Corp. (NASDAQ: BREZ), a publicly traded special purpose acquisition company.
READBird CEO Travis VanderZanden steps down as president
Shared micromobility company Bird’s (NYSE:BRDS) board of directors has appointed Shane Torchiana as president of the company, replacing the company’s CEO and founder Travis VanderZanden. The new roles will begin effective June 29, per a regulatory filing.
VanderZanden, who previously served as the chief operating officer (COO) at ride-hailing company Lyft, will stay on as CEO of Bird and chair of the board of directors.
The Santa Monica–based e-scooter and e-bike sharing company is one of two micromobility companies to debut on the public markets, alongside Helbiz, both of which came to fruition via mergers with a SPAC. Bird debuted on the NYSE on November 5 via a merger with Switchback II. The company initially traded at $8.34 per share, with an expected valuation of around $2.3 billion.
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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...
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...
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...
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...
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...