Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Polestar warns of slow recovery from lockdown, CVS in exclusive talks to buy Cano Health, and Slack’s backers warn SCOTUS of hit to capital markets from direct listing case
Polestar Warns Slow Recovery From Lockdown Dragged on Results
Polestar Automotive Holding (NASDAQ:PSNY) said supply issues that lingered after China’s Covid lockdowns earlier this year will weigh on results the electric-car maker is releasing next month, though it’s sticking with its full-year deliveries target.
The Volvo Car AB plant in Luqiao, China, that produces the Polestar 2 was hamstrung or stopped entirely for almost eight weeks in the spring, and the company is still scrambling to get enough computer chips and other essential parts. Polestar handed over just 9,215 of those sedans to buyers during the quarter ended Sept. 30. The company will need to more than double that figure this quarter to reach its 50,000 vehicle target for the year, as it’s delivered 30,400 thus far.
READCVS Is in Exclusive Talks to Buy Cano Health
CVS Health Corp. (NYSE:CVS) is in exclusive talks to buy Cano Health Inc. (NYSE:CANO), the health-care provider backed by billionaire Barry Sternlicht, according to people familiar with the matter.
CVS is currently conducting due diligence on the Miami, Florida-based company, said the people, who asked to not be identified because the matter isn’t public. There is no certainty a deal will be reached, in part because Humana Inc. has a right of first refusal should Cano find a buyer under an agreement they made in 2019, said the people.
Cano Health listed on the NYSE last year through a merger with a SPAC sponsored by Sternlicht, who leads Starwood Capital Group Management.
READSlack’s backers warn SCOTUS of hit to capital markets from direct listing case
Defenders of business software company Slack Technologies LLC told the U.S. Supreme Court this week that if the justices do not step in to overturn a ruling that allows investors in a 2019 direct listing to sue Slack for alleged misrepresentations, then every company contemplating a public offering – whether through a de-SPAC deal, an IPO or a direct listing – could face expanded liability in Securities Act class actions.
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Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...
At the SPAC of Dawn Futures sit slightly red as investors return from holidays of barbecues and fireworks to renewed concerns about where US President Donald Trump’s tariff policy might hamper trade. The latest shift produced a further one-month delay in most of the tariffs Trump has threatened to impose as his administration continues to...
Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...
Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...