Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Trump-tied SPAC DWAC surges after Elon Musks dumps Twitter deal and MANSCAPED partners with Pete Davidson
Trump-Tied SPAC Surges After Elon Musk Dumps His Twitter Bid
Investors piled back into stocks tied to former President Donald Trump after Elon Musk abandoned his planned purchase of Twitter Inc.
Shares of Digital World Acquisition Corp. (NASDAQ:DWAC), the special purpose acquisition company merging with Trump’s media venture, soared as much as 26% to $30.90 on Monday. Warrants tied to the SPAC spiked as much as 60%, while Phunware Inc.(NASDAQ:PHUN), a software company that worked on Trump’s re-election campaign, jumped as much as 26%.
The rally came after Musk said he was pulling the plug on his agreement to buy Twitter, a move that would ease some investor fears that a Musk-run operation could spell the end of Trump’s Truth Social. Devin Nunes, chief executive officer of Trump Media & Technology Group, which owns Truth Social, told Fox Business in April that Twitter wasn’t seen as a threat to the company’s ambitions.
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MANSCAPED Signs Pete Davidson As Brand Partner And Shareholder
Today, the global men’s grooming company and lifestyle consumer brand officially welcomed Pete Davidson as Brand Partner and Shareholder. Known for his iconic comedic style, unapologetic authenticity, and total appeal to the world, Pete brings a unique edge and boundless content opportunity to the disruptive grooming brand. To kick off the four-year partnership, the comedian and longtime fan of the brand collaborated with MANSCAPED on an inaugural ad that brings to life the magic of this marriage.
On November 23, 2021, MANSCAPED announced its entry into a definitive business combination agreement with Bright Lights Acquisition Corp. (Nasdaq: BLTS) (“Bright Lights”).
READAI has quietly been creeping to the top of the buzziest sectors for SPAC deals, but it’s become host to an even larger arms race in the private funding market. Elon Musk is currently pushing a $6 billion capital raise for his OpenAI competitor xAI at a valuation of $18 billion, according to TechCrunch, while...
At the SPAC of Dawn After a tepid month for SPAC activity in April, prominent teams are already scheduling things to make for some fireworks in early May. AltC (NYSE:ALCC) has already been turning heads as being the rare SPAC to trade significantly above trust value before close, and it has now booked the completion...
At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli 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...