Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Canoo shares double following Walmart order, ReNew becomes first Indian renewable energy company to refinance dollar-denominated bonds, and Getaround brings contactless carsharing to NYC
Canoo Shares Double on Walmart Order for 4,500 Electric Vans
Canoo Inc. (NASDAQ:GOEV) shares doubled in value after the struggling electric-vehicle startup won an order for 4,500 vans from Walmart Inc.
The deal announced in a statement Tuesday is a boon to Canoo, which ended the first quarter with just $105 million in cash. The company recently moved its headquarters to Walmart’s hometown of Bentonville, Arkansas, and warned in May of substantial doubt about its ability to continue as a going concern.
Canoo shares jumped $2.45 to $4.84 at 9:35 a.m. in New York, valuing the company at about $1.2 billion. Its market capitalization is still down from about $4.8 billion in late 2020, when the startup went public by merging with a special purpose acquisition company.
READReNew Becomes First Indian Renewable Energy Company To Refinance Dollar-Denominated Bonds
ReNew Energy Global plc (‘ReNew’ or ‘the Company’) (NASDAQ: RNW) (NASDAQ: RNWWW), India’s leading renewable energy company, announced today that it has successfully refinanced its 2024 maturity dollar-denominated bonds with amortising project debt from an Indian nonbank financial company, becoming the first Indian renewable energy company to do so.
ReNew issued bonds (‘RPVIN 6.67% 24s’ or ‘Bonds’) worth US$ 525 million in 2019, which were set to mature in 2024. By refinancing the dollar-denominated bonds ahead of time, ReNew has shown strong and continued access to domestic debt capital, as well as an ability to proactively manage refinancing risk.
RMG Acquisition Corporation II completed its business combination with ReNew Power Private Ltd. last summer on August 16, 2021.
READGetaround Brings Contactless Carsharing to New York City
Getaround, the world’s leading digital peer-to-peer carsharing marketplace, today announced that the groundbreaking Peer-to-Peer Car Sharing Program Act will now allow the platform to be widely available for all New Yorkers. At today’s press conference, city and state representatives, including Lincoln Restler, Andrew Gounardes and Carlina Rivera spoke alongside Getaround executives to share how this shift will enable New York residents to access a convenient, contactless, sustainable, and affordable mobility solution via carsharing.
On May 11, 2022, Getaround announced its entry into a definitive business combination agreement with InterPrivate II Acquisition Corp. (NYSE: IPVA).
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At the SPAC of Dawn During a week in which rare earth mining and space de-SPACs have seen major gains, another blast from the past is making serious waves in the market. EV battery developer QuantumScape (NYSE:QS) rose to a 52-week high of $13.79 yesterday and is cruising even higher in the pre-market. The company...
Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...
At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...