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Author: Marlena Haddad

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The Latest SPAC News and Rumors: March 16, 2023

Mar 16, 2023 INTEL, SPACs in the News by Marlena Haddad

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

Latest SPAC News:  Energy storage stockholders sue SPAC board alleging deceit, Virgin Orbit stock falls on operations pause, and tax surprises surface for SPACs

Energy Storage Stockholders Sue SPAC Board Alleging Deceit

Stockholders for an energy storage company sued their firm’s board of directors alleging they misled investors when bringing their corporation public through a SPAC merger.

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Blockchain Moon Acquisition Corp. (BMAQ) Terminates DLTx Deal, Intends to Liquidate

Mar 15, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

Blockchain Moon Acquisition Corp.(NASDAQ:BMAQ) announced this afternoon that it has unilaterally terminated its deal with Web 3.0 infrastructure builder DLTx ASA (OSX:DLTX).

As a result of the termination, the SPAC’s sponsor, Jupiter Sponsor LLC, disclosed that it will not contribute any additional funds to its trust account.

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The Latest SPAC News and Rumors: March 15, 2023

Mar 15, 2023 Headline Post, INTEL, SPACs in the News by Marlena Haddad

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

Latest SPAC News:  Trump’s Truth Social cuts staff, Redbox expects boost in business, and Arrival raises $300M

Donald Trump’s Truth Social Cuts Staff as SPAC Languishes

The company behind former President Donald Trump’s Truth Social has trimmed staff while awaiting regulatory approval for a merger that offers a financial lifeline, according to two people with knowledge of the matter.

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The Latest Liquidations: March 14, 2023

Mar 14, 2023 INTEL by Marlena Haddad

Latest SPAC Liquidations: Rocket Internet Growth Opportunities, Silver Spike II, and Corazon Capital

Rocket Internet Growth Opportunities Corp. (RKTA) to Liquidate on March 24

Rocket Internet Growth Opportunities Corp. (NYSE:RKTA) a special purpose acquisition company, announced today that it intends to redeem all of the outstanding Class A ordinary shares at a per-share redemption price of approximately $10.22, and thereafter will dissolve and liquidate.

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Globalink Investment Inc. (GLLI) Terminates Tomorrow Crypto Group Deal

Mar 14, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

Globalink (NASDAQ:GLLI) announced this afternoon that it has terminated its deal with Tomorrow Crypto Group Inc.

The SPAC did not provide further details on the termination and it remains unclear if the breakup was mutual, but Globalink confirmed that it intends to continue its search for an alternative target to combine with.

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Summit Healthcare (SMIH) Shareholders Approve YS Biopharma Deal

Mar 14, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

Summit Healthcare (NASDAQ:SMIH) announced that its shareholders have approved its combination with drug-maker YS Biopharma at a special meeting held earlier today.

The SPAC did not disclose redemption figures, but noted that the transaction is expected to deliver approximately $36 million in gross proceeds, which are expected to be used for the clinical development and future commercialization of the company’s vaccines.

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The Latest SPAC News and Rumors: March 14, 2023

Mar 14, 2023 Headline Post, INTEL, SPACs in the News by Marlena Haddad

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

Latest SPAC News:  Investor sues over $16B United Wholesale Mortgage deal, and Freightos widens loss after listing on Nasdaq

SPAC Investor Sues Over ‘Abysmal’ $16B Mortgage Biz Merger

A special purpose acquisition company’s investor says in Delaware Chancery Court that the SPAC’s managers misled shareholders about a $16 billion merger with United Wholesale Mortgage (NYSE:UWMC) so that they could reap a return from what turned out to be an ‘abysmal’ deal.

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The Latest SPAC News and Rumors: March 13, 2023

Mar 13, 2023 Headline Post, INTEL, SPACs in the News by Marlena Haddad

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

Latest SPAC News:  TRISO-X completes fuel test to power nuclear thermal propulsion in space and Arrival expects annual losses as high as $1B

TRISO-X Successfully Completes Fuel Test to Power Nuclear Thermal Propulsion in Space

TRISO-X LLC a wholly owned subsidiary of X-Energy Reactor Company, LLC that primarily develops and designs tri-structural isotropic particle fuel, today announced the successful test of its coated particle fuel for nuclear thermal propulsion applications, marking a major step toward a one-of-a-kind, nuclear-powered rocket.

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Mobiv Acquisition Corp. (MOBV) to Combine with SRIVARU in $195M Deal

Mar 13, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad
Mobiv Acquisition Corp. (NASDAQ:MOBV) has entered into a definitive agreement to combine with electric motorcycle provider SRIVARU Holding Ltd. at a pro forma implied enterprise value of $195 million. The Coimbatore, India-based company provides affordable electric two-wheelers with automated braking, a low center of gravity to improve stability, enhanced safety features, and easy charging compatible with
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KINS Technology Group (KINZ) Shareholders Approve Inpixon Deal

Mar 10, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

KINS Technology Group Inc. (NASDAQ:KINZ) announced its shareholders have approved its combination with workplace experience company Inpixon’s (NASDQ:INPX) CXApp application at a special meeting held earlier today.

Holders of 7,097,290 shares of KINS common stock were present at today’s meeting, representing 97.39% of KINS’ common stock outstanding.

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DiamondHead Holdings Corp. (DHHC) Postpones Completion Vote for Great Southern Homes

Mar 10, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

DiamondHead Holdings Corp. (NASDAQ:DHHC) announced in an 8-K this afternoon that it has rescheduled its special meeting to complete its transaction with homebuilding company Great Southern Homes, Inc.

The company originally planned to hold the completion vote on March 14, but will now be pushing it back until March 23 at 10:00 a.m.

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