The Latest SPAC News and Rumors: July 18, 2022

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Trump Media probe seeks info on private equity firm, Swvl sees more customers ditch cars for buses, and SatixFy introduces compact aero terminal

Trump Media Probe Seeks Information on Obscure Private Equity Firm

A federal probe of Donald Trump’s social media deal is putting a spotlight on Rocket One Capital, an obscure private equity firm with no obvious connection to the transaction beyond a board member.

ArcLight Clean Transition Corp. II (ACTD) Shareholders Approve OPAL Fuels Deal

ArcLight Clean Transition Corp. II (NASDAQ:ACTD) announced that at a special meeting Friday its shareholders have approved its combination with renewable gas producer OPAL Fuels.

The parties’ press release included scant details and made no mention of redemption figures.

Waldencast Acquisition Corp. (WALD) Confirms $5M PIPE to OBAGI and Milk Deal

Waldencast Acquisition Corp. (NASDAQ:WALD) announced this afternoon that it has tacked on an additional $5 million PIPE for its combination with beauty brands OBAGI and Milk.

The PIPE investors will be subject to the same terms as the Initial PIPE Investors and have collectively subscribed for 500,000 shares of Waldencast Common Stock for an aggregate purchase price equal to $5 million.

ITHAX Acquisition Corp. (ITHX) Shareholders Approve Mondee Deal

ITHAX Acquisition Corp. (NASDAQ:ITHX) announced that at a special meeting today its shareholders have approved its combination with technology-first travel marketplace company Mondee.

Approximately 75.13% of total outstanding shares voted at today’s meeting and the approval was supported by 69.63% of the shares.

Crown PropTech (CPTK) Terminates PIPE

Crown PropTech (NYSE:CPTK) announced this afternoon that a PIPE investor, which was contributing $68 million, will terminate its funding in connection to its proposed merger with smart building solutions provider Brivo.

The Latest SPAC News and Rumors: July 14, 2022

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Arrival may reduce up to 30% of its workforce in restructuring 

British EV firm Arrival may cut up to 30% of workforce in restructuring 

British electric vehicle company Arrival SA said on Tuesday it planned to reorganise its business, which could result in up to 30% reduction in its workforce.

Global SPAC Partners Co. (GLSPT) Shareholders Approve Gorilla Technology Deal

Global SPAC Partners (NASDAQ:GLSPT) announced that its shareholders approved its combination with cybersecurity firm Gorilla Technology.

In connection with the vote, however, about 88.4% of Global SPAC shares were tendered for redemption.

Kingswood (KWAC) Delisted From NYSE

Kingswood Acquisition Corp. (NYSE:KWAC) Class A common shares, units, and warrants were delisted from the New York Stock Exchange (“NYSE”) after market close this afternoon.

The regulatory team from the NYSE announced that it has immediately suspended the SPAC and has determined to begin the delisting process due to Section 802.01B of the NYSE’s Listed Company Manual.

Viveon Health (VHAQ) Amends Suneva Medical Deal

Viveon Health (NYSE:VHAQ) announced this afternoon that it has amended the outside closing date and reduced its minimum cash closing condition in connection to its proposed merger with aesthetic medical treatment company Suneva.

The Latest SPAC News and Rumors: July 13, 2022

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News:  Bridgetown Holdings weighs merger with Circles.Life, Polestar eyes new funding after 1H sales double, and DayDayCook alters listing strategy

Thiel-Backed SPAC Weighs $2.5 Billion Circles.Life

Global Synergy Acquisition Corp. (GSAQ) to Liquidate Trust

Global Synergy Acquisition Corp. (NASDAQ:GSAQ) announced this afternoon that it will be redeeming all outstanding shares and liquidating its trust.

Following the close of business on July 26, public shares will be cancelled and will represent only the right to receive the redemption amount of $10.01.

The Latest SPAC News and Rumors: July 12, 2022

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News:  Canoo shares double following Walmart order, ReNew becomes first Indian renewable energy company to refinance dollar-denominated bonds, and Getaround brings contactless carsharing to NYC

Canoo Shares Double on Walmart Order for 4,500 Electric Vans

Canoo Inc.

Chardan NextTech 2 (CNTQ) Adds $15M to Dragonfly Deal

Chardan NextTech Acquisition 2 Corp. (NASDAQ:CNTQ) announced this morning that it has added $15 million to its business with energy storage firm Dragonfly Energy.

The new money comes in the form of a Stock Purchase Agreement with THOR Industries, Inc.

Ace Global (ACBA) Terminates DDC Deal

Ace Global (NASDAQ:ACBA) announced this morning that it has mutually terminated its combination agreement with digital cooking content platform DDC, effective immediately.

Similar to most SPACs that have recently terminated their deals this year, Ace Global has also cited unfavorable market conditions.

Social Capital Suvretta III (DNAC) Shareholders Approve ProKidney Deal

Social Capital Suvretta Holdings Corp. III (NASDAQ:DNAC) announced this morning that its shareholders approved its combination with drug developer ProKidney at a special meeting held yesterday afternoon.

An 8-K that was also filed this morning disclosed that 22,829,769 of DNAC ordinary shares were presented for redemption, representing 91.319% of DNAC’s trust.

Pershing Square Tontine Holdings (PSTH) to Liquidate Trust

Pershing Square Tontine Holdings (NYSE:PSTH) announced this afternoon that it will be liquidating its trust and redeeming all outstanding shares of common stock effective as of July 26, 2022.

The SPAC was unable to complete a business combination within its timeline of 24 months from the closing of its record $4 billion IPO on July 24, 2020.

The Latest SPAC News and Rumors: July 11, 2022

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News:  Trump-tied SPAC DWAC surges after Elon Musks dumps Twitter deal and MANSCAPED partners with Pete Davidson

Trump-Tied SPAC Surges After Elon Musk Dumps His Twitter Bid

Investors piled back into stocks tied to former President Donald Trump after Elon Musk abandoned his planned purchase of Twitter Inc.

Aesther Healthcare (AEHA) Arranges Common Stock Purchase Agreement

Aesther Healthcare Acquisition Corp. (NASDAQ: AEHA) (“AHAC”) announced this afternoon that it has entered into a Common Stock Purchase Agreement with White Lion Capital, LLC in connection to its combination with automotive component manufacturer United Gear & Assembly.

The Latest SPAC News and Rumors: July 8, 2022

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News:  Tanzanian entrepreneur plans $4 billion agriculture investment via SPAC, Elizabeth Warren backs SEC’s tougher SPAC plan, and TMTG unveils new features on Truth Social

Tanzanian entrepreneur Dewji plans $2-4 billion grains production investment via SPAC

The head of one of Tanzania’s biggest firms, Mohammed Dewji, said he plans to float an agriculture company worth up to $4 billion in New York or London next year, with money raised mainly from development banks.