Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
VinFast’s second-quarter deliveries jump over fivefold sequentially
Vietnamese electric-vehicle maker VinFast said on Monday it had delivered 9,535 vehicles in the second quarter, recording a more than fivefold jump from the first quarter.
The company, whose U.S.-listed shares fell 1.2% on Monday, reported 11,315 deliveries for the first half of this year.
VinFast’s blockbuster debut on Wall Street in August through a merger Black Spade Acquisition Co. with saw its shares more than triple in value, but the company’s small amount of publicly available shares has made the stock prone to volatility.
READLatch, Soon to Be Door.com, Announces New 48,000+ Square Foot Headquarters, Bringing 30 Jobs to St. Louis
Latch, Inc., soon to be rebranded to Door.com, today announced it is moving its headquarters from New York City to St. Louis. Located at 1220 N. Price Road in the Olivette community, the leased facility features both warehouse and office space, bringing all inventory and select core business functions together under one roof.
The company, which combined with TS Innovation Acquisitions Corp. in 2021, believes this streamlining of activities in St. Louis will enable better support to its customers and will continue to drive more operational discipline and efficiency. With 16 new team members already based in St. Louis, Latch plans to bring more than 30 total jobs to the city to support future growth and strengthen its team in the area.
“The new headquarters will allow us to bring key teams together, such as sales and finance, centralize inventory, process returns, and perform testing in-house to create a strong foundation for building the business long term and handling potential future accelerated growth”
READUpHealth Puts Unit in Bankruptcy After Losing SPAC Fee Ruling
A unit of UpHealth Inc. filed for bankruptcy after a judge recently ruled the telemedicine provider must pay investment bank Needham & Co. a $31.3 million fee for arranging its 2021 merger with a publicly traded blank-check company.
UpHealth Holdings Inc. filed for Chapter 11 on Tuesday, listing assets and liabilities each of between $100 million and $500 million, according to a Delaware bankruptcy petition.
The company completed a combination with GigCapital2 Inc. and Cloudbreak Health LLC in June 2021 and began trading on the New York Stock Exchange. The deal is the latest involving a former special purpose acquisition company, or SPAC, transaction to collapse into a bankruptcy.
READLatAmGrowth SPAC (NASDAQ:LATG) announced in an 8-K that it adjourned its special meeting yesterday to liquidate early and will reconvene it at 2 pm ET September 28. The proposals on its ballot would have initiated the process of winding down the SPAC and returning all trust capital to investors outside of $100,000 for dissolution expenses....
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. JSE reviewing listing requirements with aim to simplify them The Johannesburg Stock Exchange will be reviewing all its listings requirements with the objective of further simplifying its requirements, as part of its ongoing efforts to create an...
Nabors Energy Transition Corp. (NYSE:NETC) announced this morning that Vast has added an equity commitment of up to $10 million to its combination with concentrated solar power producer Vast. The new commitment comes at $10.20 per share from the Canberra Airport Group and half of it is to come up front at close. A further...
M3-Brigade III (NYSE:MBSC) announced this morning that it has closed its combination with Canadian energy producer Greenfire and the combined company is expected to trade on the NYSE under the symbol “GFR” later today. Concurrent with close, Greenfire also issued $300 million in new senior secured notes at a 2% discount, priced at $980 per...
Murphy Canyon Acquisition Corp. (NASDAQ:MURF) announced this afternoon that its stockholders voted in favor of the proposed business combination with Conduit Pharmaceuticals Limited (“Conduit”). Details on the vote, along with redemption numbers, have not been filed yet, but the Company expects the closing to occur as soon as practicable, subject to the satisfaction or waiver...