Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Aspiration launches Carbon Opportunities Fund, Digital World postpones earnings amid investigations, and Polestar announces new electric vehicle
Carbon Opportunities Fund Launches First-of-its-Kind Investment Platform to Issue Tokenized Carbon Credits
The International Finance Corporation, Cultivo, Aspiration, and Chia Network, today announced the launch of the Carbon Opportunities Fund (the Fund), a global investment platform that will raise private capital for an innovative model to source, tokenize and sell high-quality, verified carbon credits.
The Fund will seek to catalyse investments in the voluntary carbon markets and broaden access to finance for nature-based projects certified by leading international standards bodies.
Aspiration has entered into a merger agreement with InterPrivate III Financial Partners Inc. (NYSE: IPVF), a publicly-traded SPAC, which, upon closing, will result in Aspiration becoming a listed company as a Public Benefit Corporation.
READTrump-linked SPAC Digital World postpones earnings report after seeking to delay merger
Digital World Acquisition Group (NASDAQ:DWAC), the SPAC that plans to merge with Trump Media and Technology Group and take it public, is asking for an extension to file its earnings report, according to a regulatory filing Tuesday.
In a filing with the Securities and Exchange Commission, DWAC said it expects to report within the agency’s five-day grace period of the required filing date. Publicly traded companies are required to report earnings no later than 35 days after a quarter is complete.
READPolestar Has a New EV Coming in 2026. Online Ordering Has Begun
The company announced production of a roadster called the Polestar 6. It’s expected to hit roads in 2026, but ordering begins Tuesday.
The vehicle was revealed as a concept car in March in Los Angeles. It will be a hardtop convertible with roughly 880 horsepower. That power will launch the sporty car 0 to 60 mph in, perhaps, 3 seconds.
Polestar (NASDAQ:PSNY) shares have fallen about 15% this year. Polestar completed its merger with Gores Guggenheim in June.
READRumble’s Subscription Product ‘Locals’ Smashes Records & Exceeds $7.5 million in Transaction Value for Q2
Today, Rumble’s community-based subscription platform, Locals, announced that its key performance metrics set new records in the second quarter of 2022.
Compared to the second quarter of 2021, Locals saw its number of unpaid members grow by nearly 150 percent and its number of paid supporters grew by 106 percent. The total value of all transactions on the platform in the second quarter exceeded $7.5 million, more than 400 percent of the value of transactions on the platform during the same period last year.
The company announced in December 2021 the execution of a definitive business combination agreement with CF Acquisition Corp. VI (NASDAQ: CFVI).
READGinkgo Bioworks Reports Q2 Revenues More Than Triple, Raises Guidance
Ginkgo Bioworks (NYSE:DNA) reported after the close of the market on Monday that its second quarter 2022 revenues grew 231 percent year over year, driven by biosecurity service revenues.
In the three months ended June 30, Ginkgo reported $144.6 million in total revenues compared to $43.6 million a year ago, smashing the consensus Wall Street estimate of $77.6 million.
Foundry, or cell engineering, revenues were $44.2 million, more than double the $21.6 million reported in Q2 2021. Biosecurity service — mostly COVID-19 testing — revenues from the firm’s Concentric subsidiary were $96.5 million, up from $21.7 million a year ago, driven by K-12 testing volumes, while biosecurity product revenues were $3.9 million, up from $355,000 a year ago.
The Boston-based firm went public through a merger with Soaring Eagle in September 2021, raising $1.63 billion.
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Globa Terra Acquisition Corporation (NASDAQ:GTERU) has filed for a $152.2 million SPAC to find an agriculture or food-tech target company The new SPAC is overfunded to 100.5% and is set to have both a 3/4 warrant and right to a 1/20 share in each of its units. This vies for the most investor-friendly unit coverage of...
EGH Acquisition Corp. (NASDAQ:EGHAU) has filed for a $150 million SPAC to continue the work of the Tortoise serial SPAC team under a fresh name. The new SPAC is not overfunded and will have one right to a 1/10 share in each of its units. It will have 24 months to initially close a business...
Yorkville Acquisition Corp. has filed for a $150 million SPAC to bring the sponsor’s experience in SPAC investing to a search for a technology, media or telecom target. The new SPAC is overfunded to 100.5% with $10.05 per unit in trust initially. Each unit is set to contain a 1/3 share and it will have...
At the SPAC of Dawn This week’s trading comes to an end later today as the US exchanges will observe the Good Friday holiday (but the SEC’s EDGAR filing system will not). Dow futures ahead of this session remain in the red although both the S&P 500 and Nasdaq look to make up some losses...
This week, we return to another episode from 2021, when we spoke with Will Marshall, Co-founder and CEO of Planet Labs (NYSE:PL). Planet provides data services drawn from its fleet of about 200 satellites that generate a complete image of the earth’s surface every day. It just celebrated its first quarter of EBITDA profitability, but at...