Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: CXApp soars after merging with KINS Technology and Corvex settles with SEC over SPAC activities
AI-Linked De-SPAC CXApp Surges 1,480% in Blistering Three-Day Rally
CXApp Inc. (NASDAQ: CXAI) soared 94% on Friday, bringing its rally over the past three days to 941% on the back of a wave of retail investor interest after listing via a SPAC merger with KINS Technology Group Inc.
The artificial intelligence-powered enterprise software company has jumped from a Tuesday close of $1.33 to ending Friday’s session at $13.85 without having released any new updates with the US Securities and Exchange Commission in the period. The stock is the latest to ride the AI wave that’s boosted multiple companies this year. It was the most-mentioned stock over the past day in Stocktwits, according to data compiled by Bloomberg.
READCorvex Settles With SEC Over SPAC Activities
Corvex Management has agreed to pay $1 million to settle an SEC complaint related to the activities of three SPACs co-sponsored by the hedge fund.
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At the SPAC of Dawn As a rough week in the market comes to a close, at least one de-SPAC has some cause to show off. Many fashion brands were among the hard hit in recent days and not simply for macro reasons. Luis Vuitton-owner LVMH (PA:MC) dropped this week after an earnings miss led...
Shepherd Ave Capital Acquisition Corp. (Nasdaq: SPHAU) is the latest SPAC to file to IPO, making 24 new registration statements that have filed since June 1, 2024. So far, only two of those 24 have gone public, but it does indicate an active August. In SPACLand at least, August is never slow. As for Shepherd...
At the SPAC of Dawn SPACs have now priced 20 IPOs seven months into 2024 with an eye on beating 2023’s total of 31 IPOs. With a little more than 5 months left in the year, it’s expected that SPACs should at least match that number by only needing to price roughly two IPOs per...
DT Cloud Star announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “DTSQU”, Thursday, July 25, 2024. The new SPAC aims to combine with an established business with long-term financial visibility, but has not limited itself to a particular industry or sector....
Launch Two (NASDAQ:LPBBU) has filed for a $200 million IPO that shows how the market has shifted for new issuance since its sister SPAC Launch One (NASDAQ:LPAAU) filed just over a month ago. Both SPACs are underwritten by Cantor Fitzgerald and seeking nominally the same raise at IPO, but Launch Two is overfunding its trust...