The Latest SPAC News and Rumors: May 23, 2022

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

Latest SPAC News: Wilbur Ross SPAC in talks to merge with UK’s Atom Bank, eToro targets $1B funding round, and Symbotic expands Walmart partnership to implement automation system

Trump’s Commerce Secretary Ross Plots £700M Merger With UK’s Atom Bank

The SPAC set up by Wilbur Ross, who was President Trump’s commerce secretary between 2017 and 2021, is in detailed talks about a merger with Durham-based Atom Bank.

The Latest SPAC News and Rumors: May 20, 2022

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

Latest SPAC News: Mondee announces 1Q financials results, returns to positive EBITDA while Prenetics tumbles following Nasdaq debut

Mondee Announces 1Q 2022 Financial Results; Returns to Positive EBITDA, Almost Tripling Net Revenue

Mondee Inc.,

The Latest SPAC News and Rumors: May 19, 2022

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

Latest SPAC News: Ex-Gucci backer Investcorp weighs UAE SPAC, Lionheart in talks with Security Matters, and Polestar cuts 2022 delivery forecast amid China lockdown

Ex-Gucci Backer Investcorp Weighs Setting Up UAE SPAC 

Investcorp is considering listing a special purpose acquisition company in the UAE, according to people with knowledge of the matter, boosting momentum for the Middle East’s nascent blank-check market.

Omnichannel Acquisition Corp. (OCA.U) Announces Liquidation

Omnichannel Acquisition Corp. (NYSE:OCA.U) announced this afternoon that it will be redeeming all of its outstanding shares of Class A common stock, effective as of the close of business on June 1, 2022, due to its inability to complete a business combination.

Cascade Acquisition Corp. (CAS) Announces Liquidation

Cascade Acquisition Corp. (NYSE:CAS) announced this afternoon that it intends to dissolve and liquidate due to its inability to complete an initial business combination within the required time period.

As a result, the SPAC will redeem all of the outstanding shares of Class A common stock that were included in the units issued in its IPO at a per-share redemption price of approximately $10.10.

Lionheart II (LCAP) Shareholders Approve MSP Recovery Deal

Lionheart Acquisition Corp. II (NASDAQ:LCAP) announced that its shareholders have voted to approve its combination with Medicare billing firm MSP Recovery in a special meeting held earlier today.

Although today’s press release did not disclose redemption numbers, Lionheart II traded above its trust value of $10 throughout its redemption deadline Monday, May 16, and opened today at $10.49.

North Atlantic (NAAC) Postpones Shareholder Vote

North Atlantic Acquisition Corp. (NASDAQ:NAAC) announced this afternoon that it has postponed its special meeting to vote to approve its combination with communications platform Telesign.

Although NAAC noted that a sufficient number of NAAC’s shareholders have already voted to approve the business combination, it also stated that all of the conditions to effect the closing of the deal have not yet been satisfied.

The Latest SPAC News and Rumors: May 17, 2022

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

Latest SPAC News: Zegna aims for revenue above $2B, India’s Byju’s eyes Chegg or 2U as it weighs US acquisition, and MSP Recovery sees substantial business expansion following SPAC announcement

Italian Luxury Group Zegna Sees Sales Above 2B Euros in Mid-Term

Italy’s Zegna (NYSE:ZGN) is aiming for revenue above 2 billion euros ($2.1 billion) in the medium term, up from the 1.29 billion euros posted last year, the fashion group said on Tuesday at its first Capital Markets Day since its debut on Wall Street in late 2021.

The Latest SPAC News and Rumors: May 16, 2022

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

Latest SPAC News: Big law bullish on SPACs, DWAC and Trump Media eye second half deal close, and Alvotech announces positive results from pharmacokinetic study

Big Law Is Bullish on SPACs Even as Large Banks Pull Out

Proposed US rules causing banks to sour on SPACs are having the opposite effect on Big Law firms that see an uptick in inquiries about special purpose acquisition companies.

The Latest SPAC News and Rumors: May 13, 2022

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

Latest SPAC News: Martin Franklin warns of more pain to come for SPACs, ShiftPixy announces special distribution of shares of Industrial Human Capital, and Betclic owner targets €7B Amsterdam listing

SPAC Pioneer Franklin Sees More Pain Coming for Blank-Check Bets

Serial blank-check investor Martin Franklin is warning of more pain to come for SPACs, recommitting to his notion that the market for the vehicles is overheated and should be governed by the same guidelines as initial public offerings.

Lionheart II (LCAP) Secures Funded & Committed Equity Facilities for MSP Recovery Deal

Lionheart Acquisition Corp. II (NASDAQ:LCAP) announced this morning that it has secured a funded and committed equity facility with an affiliate of Cantor.

As background, Lionheart II entered into a definitive agreement to combine with medical billing firm MSP Recovery at an enterprise value of $32.6 billion back in July 2021.

OTR Acquisition Corp. (OTRA) Shareholders Approve Comera Life Sciences Deal

OTR Acquisition Corp. (NASDAQ:ORTA) filed an 8-K this afternoon with the results of its shareholders vote to approve its combination with biotech firm Comera Life Sciences in a special meeting held on Tuesday.

The Latest SPAC News and Rumors: May 12, 2022

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

Latest SPAC News: Lordstown Motors and Foxconn enter JV agreement for EV development, D-Wave delivers industry-first hybrid solver, and Gogoro releases 1Q results

Lordstown Motors and Foxconn Close Asset Purchase Agreement and Enter into JV Agreement for MIH Based EV Development

Lordstown Motors Corp.