Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: DWAC fails to pay proxy solicitors, and Ocean Biomedical discovers new therapy that can potentially kill cancerous cells
Trump SPAC fails to pay proxy firm despite tough hunt for votes, Financial Times reports
Executives behind a SPAC Digital World Acquisition Corp (NASDAQ:DWAC) that plans to take Donald Trump’s media business public have failed to pay their proxy solicitors, The Financial Times reported on Saturday.
Digital World Acquisition Corp, set up by Patrick Orlando, has not paid Saratoga Proxy Consulting for its work helping to rally shareholders, report said, citing people familiar with the matter.
READOcean Biomedical discovers new therapy that can potentially kill cancerous cells
Ocean Biomedical and Aesther Healthcare Acquisition Corp. announced the discovery of a therapy that could potentially kill glioblastoma and melanoma cells – two types of cancerous cells – and block the spread of these cells to the lungs.
The company discovered antibodies that can target both CHI3L1, a regulator of a series of cancer-causing pathways, and ICPI, immune checkpoint inhibitors.
The Providence-based biopharma company recently announced it has entered a merger agreement with special purpose acquisition company Aesther Healthcare Acquisition Corp. (NASDAQ:AEHA), which is expected to be complete by the end of 2022. Ocean Biomedical will then become a subsidiary of Aesther Healthcare Acquisition Corp. and the combined company will be renamed Ocean Biomedical Inc.
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Drugs Made in America Acquisition Corp. (NASDAQ:DMAAU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “DMAAU”, Tuesday, January 28, 2025. The new SPAC intends to combined with a target company in the pharmaceutical industry that has products derived from plant-based raw...
Black Spade II (NASDAQ:BSII) has entered into a definitive agreement to combine with World Media and Entertainment Universal at an equity value of $488 million. World Media is a bundle of assets including fashion publications and hotel properties held by AMTD Group and its subsidiaries. The combined company is expected to trade on a US...
Israel Acquisitions (NASDAQ:ISRL) has entered into a definitive agreement to combine with delivery drone developer Gadfin at an equity value of up to $200 million. Rehovot, Israel-based Gadfin has developed a line of cargo drones designed for medical and industrial applications. The combined company is expected to trade on the Nasdaq once the deal is...
Embrace Change (NASDAQ:EMCG) has entered into a definitive agreement to combine with tire manufacturer Tianji Global at a $450 million equity valuation. Jiaozuo, China-based Tianji manufactures vehicle tires that are distributed through about 200 sales outlets. The combined company is expected to trade on the Nasdaq once the deal is completed by mid-2025. Transaction Overview...
At the SPAC of Dawn Deals are back in SPACland as two business combinations were announced this morning. This not only triples the number of deals announced in 2025 to three, but it is also marks the first time multiple business combinations have been announced in one day since August 30, 2024. With that five...