Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Trump-tied SPAC, Rumble show power of hardcore followers, but DWAC slides after Elon Musk revives Twitter deal; Everton FC draws takeover interest from Soros nephew’s SPAC
Trump-Tied SPAC, Rumble Show Power of Hardcore Followers
Legions of followers betting on conservative social-media platforms have helped stocks like Rumble Inc. (NASDAQ:RUM) and the blank-check firm, Digital World (NASDAQ:DWAC), taking Donald Trump’s media company public to outperform peers, a sign that speculative fervor in the market is still high.
The pair are, respectively, one of the best performers this year among firms that merged with a special-purpose acquisition company and the top-gaining SPAC since listing that hasn’t yet completed a combination. That outperformance — at a time when shares of established social-media companies mostly are in free fall — has been fueled in part by retail traders.
READTrump SPAC shares slide after Elon Musk revives deal to buy Twitter
Shares of Digital World Acquisition Corp. (NASDAQ:DWAC), the special-purpose acquisition company seeking to take Trump Media and Technology Group public, slid Tuesday after Elon Musk reversed course and proposed going through with his deal to buy Twitter (NYSE:TWTR).
Shares of DWAC fell more than 5% Tuesday to $17.10. The stock’s 2022 peak was about $97 in March.
READEverton FC Draws Takeover Interest From Soros Nephew’s SPAC
Everton FC is drawing takeover interest from a US special purpose acquisition company co-led by George Soros’s nephew, according to people familiar with the matter.
LAMF Global Ventures Corp. I (NASDAQ:LGVC) has held preliminary talks with the English Premier League football club about a deal.
LAMF is led by Jeffrey Soros and Simon Horsman, both Los Angeles-based producers. It counts veteran football dealmaker and former Everton director, Keith Harris, as a senior adviser, securities filings show. It raised $253 million in a November 2021 initial public offering.
Truth Social Android App Available in the Samsung Galaxy Store
Trump Media & Technology Group (“TMTG”) announced today that the Truth Social Android App is now available for U.S.-based Samsung smartphone users to download in the Samsung Galaxy Store. The inclusion of Truth Social in the Samsung Galaxy Store represents a major milestone for Truth Social’s availability in the United States, as Samsung commands a 30 percent share of the domestic smartphone market, according to publicly available data.
READPerimeter Acquisition Corp. I (NASDAQ:PMTRU) announced the pricing of its upsized $210 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “PMTRU”, Tuesday, May 13, 2025. The new SPAC aims to combine with a target company with that can contribute to the re-industrialization of the United States economy,...
Horizon Space II (NASDAQ:HSPT) has signed a definitive agreement to combine with clinical stage biotech firm SL Bio Ltd. for $5.57 billion in equity consideration. Taipei, Taiwan-based SL Bio is developing drug candidates to treat several cancer types while also selling over-the-counter beauty products derived from natural extracts. The combined company is expected to trade...
At the SPAC of Dawn This is set to be a slower week for votes with just two SPACs seeking an extension and none yet scheduling a meeting for approving a business combination. Integrated Rail & Resources (OTC:IRRX) primed the pump somewhat for investors ahead of its Tuesday special meeting by announcing it has entered...
Terms Tracker for the Week Ending May 9, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. After the sprint that was last week, with nine IPOs and six new SPAC filings, this week took a breather. Only two SPACs priced, there...
Lake Superior (NASDAQ:LKSPU) has filed for a $100 million SPAC as its CEO attempts to go three-for-three with SPACs that led to completed deals. This new vehicle has one right to a 1/6 share in each unit and some common features of a SPAC underwritten by Cohen & Company in this current climate. Although the...