Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Trump-tied SPAC drops after deal delay, Brazil’s Semantix ready to put money to work, and Australian Foreign Investment Board approves Metal’s acquisition
Trump-Tied SPAC Drops on Report It Can’t Get Deadline Push
Investors dumped shares of Digital World Acquisition Corp. (NASDAQ:DWAC), the blank-check firm set to merge with Donald Trump’s social media company, after a report said it failed to get enough support for an extension to complete the deal.
Executives at the special purpose acquisition company don’t expect to get enough shareholder support for a one-year extension to complete a deal with Trump Media & Technology Group, Reuters reported, citing people familiar with the matter. The shares fell as much as 21% to $19.70 on Tuesday, the lowest since the deal was announced in October, while warrants tied to the SPAC sank 17%.
Amid SPAC Rout, Brazil’s Semantix Ready to Put Money to Work
Brazilian data software provider Semantix Inc. (NASDAQ:STIX) has seen its shares sink 60% since going public in early August after completing a merger with Alpha Capital, a special purpose acquisition company, amid a slump in the tech industry.
But with the $127 million that it raised in the process, it’s eyeing more acquisitions, looking to grow headcount and open a new office in the US in anticipation of a rebound for the beaten down sector, chief executive officer Leonardo Santos and board member Rafael Steinhauser said in an interview.
READAustralian Foreign Investment Review Board Approves Metals Acquisition Corp’s Acquisition of the CSA Copper Mine
Metals Acquisition Corp. (NYSE: MTAL.U) (“MAC”) is pleased to announce that it has received approval from the Australian Foreign Investment Review Board (“FIRB”) of its proposed acquisition of the CSA Copper Mine (“CSA”), subject to customary tax and reporting obligations.
Metals entered into a definitive sale and purchase agreement to acquire the CSA Copper Mine from Glencore (LON:GLEN) earlier this year in March.
READAllwyn Entertainment Announces Withdrawal by Camelot Entities of Legal Challenge to Allwyn’s Selection as Preferred Applicant for UK National Lottery License
As previously announced, in March 2022 the UK Gambling Commission selected Allwyn Entertainment Ltd, a subsidiary of Allwyn Entertainment AG, as its preferred applicant for the fourth license to operate the UK National Lottery. The award of the license has been contested in a legal challenge.
On June 29, 2022, the court ruled to lift the automatic suspension preventing the UK Gambling Commission from entering into agreements with Allwyn Entertainment Ltd to commence the transition process. That ruling was appealed by Camelot UK Lotteries Limited and Camelot Global Lottery Solutions Limited and International Game Technology plc, resulting in the suspension continuing.
READLivestreamer VivaFrei Signs Exclusive Deal with Rumble, Drops Youtube as Primary Platform
Rumble, the video-sharing platform, announced an exclusive partnership with David Freiheit, an accomplished attorney and successful content creator on YouTube.
The partnership will include exclusive livestreams on Rumble an average of four times per week, including VivaFrei’s popular Sunday show. At the end of August, his YouTube channel boasted over 540,000 subscribers, who can find a new home on Rumble with the exclusive partnership.
Terms Tracker for the Week Ending April 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Passover and school spring break starts next week, which most likely means a slowdown in SPAC filing activity. Although Churchill IX is now rumored to...
Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At 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...