Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Tanzanian entrepreneur plans $4 billion agriculture investment via SPAC, Elizabeth Warren backs SEC’s tougher SPAC plan, and TMTG unveils new features on Truth Social
Tanzanian entrepreneur Dewji plans $2-4 billion grains production investment via SPAC
The head of one of Tanzania’s biggest firms, Mohammed Dewji, said he plans to float an agriculture company worth up to $4 billion in New York or London next year, with money raised mainly from development banks.
Russia’s invasion of Ukraine in February sent global grain and fertiliser prices soaring, though they have retreated in recent weeks. Inflation has subsequently risen in many African countries.
He said he aimed to structure the venture, for which he has yet to secure land, as a SPAC and would himself put up $400 million as 10% to 20% of total funding.
READElizabeth Warren Backs SEC’s Tougher SPAC Plan to Curb ‘Scams and Fraud’
Elizabeth Warren is coming out in support of the US Securities and Exchange Commission’s proposed rules to regulate blank-check companies, urging more protections for individual investors who can fall prey to Wall Street.
In a letter to SEC Chair Gary Gensler on Friday, the Massachusetts senator said she backed the agency’s proposals for SPACs, “which will level the playing field for retail investors and prevent Wall Street insiders from perpetuating scams and fraud to line their own pockets.”
READTMTG Unveils New Features on Truth Social
Today, Trump Media & Technology Group (“TMTG”), led by its Chairman Donald J. Trump and CEO Devin Nunes, unveiled significant new features on its free-speech social media platform Truth Social, rapidly delivering another major upgrade for its users.
To provide users with a superior social media experience that augments Truth Social’s chronological feed, today’s update include a Profile Carousel atop the Truth Social feed swiftly connects users directly to the feeds of some of the most popular and active accounts they follow, a Suggested Profiles Carousel is interspersed throughout the feeds, helping users discover new and interesting accounts, and more.
Digital World (NASDAQ:DWAC) entered into a definitive agreement to combine with Trump Media and Technology Group last year on October 21.
READAt the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...
At the SPAC of Dawn Ever since Digital World announced its combination with Trump Media (NASDAQ:DJT) back in October 2021, it was clear that SPACworld and the Trump show were set to be intertwined for quite some time. And, although not every headline has a bearing on the wider SPAC world, Trump Media’s post-close rise...