Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lordstown Motors begins shipping Foxconn-made EV pickup trucks, AUM Biosciences receives FDA Orphan Drug Designation, and Newsight Imaging selected for FastLane commercialization program
Lordstown Motors begins shipping its Foxconn-made EV pickup trucks
Lordstown Motors (NASDAQ:RIDE) has starting shipping its all-electric Endurance pickup trucks manufactured by Foxconn, a milestone that seemed impossible earlier this year.
Lordstown Motors, which has experienced investigations, executive upheaval and a shortage of capital, said Tuesday that its full-sized EV truck received full homologation with certification from both the EPA and CARB that clears the way for the company to start customer sales.
The first batch of 500 EV pickups, made at an Ohio factory now owned by Taiwanese hardware manufacturing company Foxconn, are on their way to fleet customers, according to the company. The announcement sent shares of Lordstown Motors stock up 3.79%.
READAUM Biosciences Receives FDA Orphan Drug Designation for AUM302 for the Treatment of Neuroblastoma
AUM Biosciences, a global clinical-stage biotech company focused on discovering and developing precision oncology therapeutics, announced today that the U.S. Food and Drug Administration has granted Orphan Drug Designation for AUM302, a potential first-in-class oral kinase inhibitor that targets not only PI3K, but also key resistance mechanisms such as PIM and mTOR, for the treatment of neuroblastoma.
On October 20, 2022, AUM and Mountain Crest Acquisition Corp. V (Nasdaq: MCAG), a publicly traded special purpose acquisition company formed in Delaware, whose management team has an impressive pedigree of successful SPAC transactions, announced that they have entered into a definitive business combination agreement.
READNewsight Imaging Technology Selected by Drive TLV for 2023 FastLane Commercialization Program
Newsight Imaging Ltd., a leading semiconductor innovator developing proprietary 3D machine vision sensors, spectral vision chips and systems, today announced it was selected for the 2023 FastLane commercialization program for smart mobility startups offered by DRIVE TLV, a leading Israeli innovation hub.
On August 30, 2022, Newsight Imaging announced that it has entered into a definitive agreement to become publicly listed through a merger transaction with Vision Sensing Acquisition Corp. (Nasdaq: VSAC), a publicly traded special purpose acquisition company.
READRedwire President and COO Andrew Rush leaving company
Redwire Corp. (NYSE:RDW) said in a Securities and Exchange Commission filing that President and Chief Operating Officer Andrew Rush’s employment with the company will terminate on Dec. 9, by mutual agreement.
Redwire established its headquarters in Jacksonville after acquiring Made In Space and went public in September 2021 by merging with a special purpose acquisition company.
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Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...
At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose...
Terms Tracker for the Week Ending April 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Passover and school spring break starts next week, which most likely means a slowdown in SPAC filing activity. Although Churchill IX is now rumored to...