A special purpose acquisition company intending to merge with former president Donald Trump’s Truth Social parent company said on Monday that it reached a not yet finalized settlement with the Securities and Exchange Commission (SEC) over some wrong filings and talks before an allowed date. The special purpose company, Digital World Acquisition Corp. (DWAC), published…
Vehicle Maker Electric Last Mile Files For Bankruptcy
June 14, 2022
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Bankruptcy filingsBusiness & MarketsCompaniesElectric VehiclesEV makerSEC investigationSPACUSUS News
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Electric Last Mile Solutions (ELMS), a commercial electric vehicle (EV) company, has announced that it plans to file for Chapter 7 bankruptcy, less than a year after it went public through a merger with a special purpose acquisition company (SPAC). The company’s CEO Jim Taylor and executive chairman Jason Luo resigned in February 2022 following…
This Smaller Spotify Rival Looks to Go Public via €1.05 Billion SPAC Merger
Spotify Technology SA.’s smaller French rival Deezer looks to go public via a SPAC merger backed by billionaire Francois Pinault’s investment group and investment banker Matthieu Pigasse, the Financial Times reports. Deezer merged with I2PO, a Paris-listed special purpose acquisition company. The SPAC raised €135 million in the form of Private Investment in Public Equity (PIPE) financing. France’s billionaire Pinault family…
Circle Announces $400 Million Funding Round Led by BlackRock
Global internet finance company Circle, which is set to go public via SPAC merger later this year, on Tuesday announced a funding round led by BlackRock. What Happened Circle entered into an agreement for a $400 million funding round with investments from BlackRock, Fidelity Management and Research, Marshall Wace LLP, and Fin Capital. In addition, BlackRock entered into a broader strategic partnership with Circle, which includes exploring…
Japanese Crypto Exchange Coincheck Targets US IPO via $1.3 Billion SPAC Merger With Thunder Bridge
March 23, 2022
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Business & EconomyCoincheckCompaniescrypto exchangecryptocurrencyeconomyJapaneseMarketsmergerSPACThunder BridgeUS IPO
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Japanese crypto exchange Coincheck Inc. looks to go public in the U.S. via a special purpose acquisition company merger with Thunder Bridge Capital Partners IV Inc. in a $1.25 billion deal. The transaction also includes an earn-out of up to 50 million shares. The deal would provide proceeds of $237 million to the combined company. The combined entity…
The SPAC Market Tanked at Start of 2022, Facing Major Losses
The SPAC market faced more bad news in January, as speculative stocks with little earnings took a dive at the beginning of the year, in the face of rising interest rates in an oversaturated environment. A rising number of major deals have been abandoned so far this year. SPAC stands for a Special Purpose Acquisition…
Why Trump’s Merger Partner Digital World Stock Is Headed for All-Time Highs
Trump-sensitive stock Digital World Acquisition Corp. popped up 4 percent higher shortly after the markets opened on Thursday. The SPAC, which merged with Trump Media and Technology Group public in October plans to launch its social media app, Truth Social, on Feb. 21. The app will have similar features to Twitter Inc. but posts will be…
How the Net Asset Value Is Still in Place for SPACs With Terminated Deals
Along with the hundreds of announced SPAC mergers and closed deals in 2021 came a handful of SPAC deals that were terminated. Here’s a look at what it means for the SPACs that called off mergers. What Happened SPACs can terminate deals for numerous reasons including a change in valuation sentiment, missing deadlines, or news items…
What’s Next for SPACs in 2022? Experts Share Stocks to Watch
One of the biggest words for investors in 2021 was SPACs. While special purpose acquisition companies have been around for years, 2021 became the year that they took over the market in terms of IPOs and as a topic of conversation. There were over 600 new SPACs that went public in 2021 and over 150…
Triller Merging With SeaChange International: What Investors Should Know
A rumored merger between Triller and publicly traded SeaChange International was confirmed Wednesday morning. Here are the details for investors. What Happened Triller Hold Co. announced a reverse merger with SeaChange, which values the combined company at $5 billion. The merger is expected to close in the first quarter of 2022. SeaChange will become an operating unit inside…
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