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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At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
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...