With the quarter headed to the halfway point and the election season raging on, SPACInsider has a new question for readers.
Voters decision in the election itself is still a ways’ off, but, Let’s Settle This: Will Digital World (NASDAQ:DWAC) actually complete its combination with Trump Media & Technology Group this year?
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This week kicks off with a fair amount of SPAC activity on both ends of deals.
Three SPACs are set to hold extension votes today and this evening could see the pricing of 2024’s second SPAC IPO with Legato Merger Corp.
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Today marks by far the busiest day in the SPAC market since the SEC dropped the new rules as it is set to host four extension votes, three completion votes and even has a potential new SPAC IPO pricing on the docket.
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Power & Digital Infrastructure II (NASDAQ:XPDB) has added a $5 million PIPE to its combination with sustainable air conditioning company Montana Technologies, which has also committed to invest $10 million into a new joint venture.
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Should de-SPAC’d companies consider buying back their shares rather than making offers for their warrants? Abacus Life (NASDAQ:ABL) believes the answer is yes.
This week, we catch up with with Abacus Life Chairman and CEO Jay Jackson.
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The Fed’s announcement yesterday that it was in no hurry to cut rates slammed the market generally through the rest of the trading day, but things have picked back up in the early hours of Thursday.
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Morning SPAC News Roundup-readers have spoken! On the eve of the Fed’s press conference, we asked SPACInsider subscribers in this space to predict the number of SPAC IPOs in 2024.
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This week, SPACInsider is starting a weekly poll to get a pulse on the SPAC market.
The Fed begins a two-day meeting today on monetary policy and its press conference coming out of that at 2 pm ET will be watched closely for signs of when to expect rate cuts and how large they will be.
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SPAC activity is picking back up this week in between the dust settling on the SEC’s new SPAC rule and the Fed breaking its silence on potential rate cuts Wednesday.
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The Fed got more evidence of cooling inflation this morning as the Commerce Department’s personal consumption expenditures (PCE) price index came in just under expectations for December.
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Northern Star Investment Corp. II (NYSE:NSTB) has announced that it would liquidate its trust, but will also make the unorthodox move to continue functioning as a shell listed on the pink sheets.
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Earlier this week, CSLM Acquisition Corp. (NASDAQ:CSLM) announced a combination with AI software firm Fusemachines, but offered few financial details in the announcement press release.
It has since filed its merger documents and they include some terms that are becoming more common in SPAC transactions.
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Welsbach Technology (NASDAQ:WTMA) has signed a non-binding letter of intent (LOI) to combine with mining firm Evolution Metals for so far unspecified terms.
Palm Beach, Florida-based Evolution is developing both mining and refining capabilities to process battery and rare earth metals for a wide range of technology applications.
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Global System (NASDAQ:GSD) announced in an 8-K filing this morning that it has mutually terminated its combination with smart cities technology company DarkPulse (OTC:DPLS).
The move came after it received notice that Nasdaq would de-list its shares, following a back-and-forth over the SPAC’s failure to hold an annual meeting for the 2022 fiscal year.
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The SEC has voted 3-2 to approve new rules for SPACs in a meeting that was occasionally adversarial with Commissioners Hester Peirce and Mark Uyeda dissenting against the proposal.
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CSLM (NASDAQ:CSLM) has entered into a definitive agreement to combine with AI software company Fusemachines at an equity valuation of $200 million.
New York-based Fusemachines provides enterprise software for firms looking to optimize their business processes with AI-based tools.
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