Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Terran Orbital receives milestone payment for Rivada constellation and ex-CFO of African Gold Acquisition Corp. gets 3 years in scheme to trade meme stocks, crypto
Terran Orbital Receives Milestone Payment for Rivada Constellation
Terran Orbital (NYS: LLAP) announced on Thursday that it received a milestone payment for the $2.4 billion, 300-satellite constellation it is building for Rivada Space Networks. Terran Orbital, which is a wholly-owned subsidiary of Tyvak Nano-Satellite Systems, also announced completion of the screening of industrial partners and trade studies that will support the acquisition process and system engineering.
READEx-SPAC CFO Gets 3 Years in Scheme to Trade Meme Stocks, Crypto
The former chief financial officer for a group of special purpose acquisition companies was sentenced to three years in prison for a scheme to embezzle more than $5 million to trade in crypto assets and meme stocks.
Cooper Morgenthau, 36, of African Gold Acquisition Corp., admitted stealing the money from the SPACs for more than a year beginning in June 2021. He was sentenced in a hearing on Thursday, Manhattan US Attorney Damian Williams said in a statement.
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Graf Acquisition Corp. IV (NYSE:GFOR) announced in an 8-K this afternoon that it has come to a forward purchase agreement (FPA) with Meteora Capital Partners involving up to 2,500,000 shares for its combination with NKGen Biotech. Meteora is to purchase up to that amount on the open market prior to close, capped at 9.9% of...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Heard on the Street: VinFast’s SPAC Backers Are Backing Out Even by the standards of electric-vehicle startups, the $40 billion market value of Vietnamese electric-vehicle startup VinFast is wild, following its combination with Black Spade last month....
Murphy Canyon (NASDAQ:MURF) announced this morning that it has closed its combination with Conduit Pharmaceuticals and its shares and warrants are expected to begin trading on the Nasdaq under the symbols “CDT” and “CDTTW” on September 25. The company also closed a purchase of $20 million in Murphy Canyon units at close, which is to...
Indie Semiconductor (NASDAQ:INDI), which merged with Thunder Bridge II in June 2021, announced this morning that it has launched an exchange offer to convert each outstanding warrant to 0.285 Class A shares in the company. At Indie’s last closing price of $6.22, this is $1.77 of value each, although the stock has been rising since...
Atlantic Coastal II (NASDAQ:ACAB) has entered into a definitive agreement to combine with drug developer Abpro at a valuation of $725 million. Woburn, Massachusetts-based Abpro is advancing a series of drug candidates to potentially treat COVID, cancer and diabetic blindness. The combined company is expected to trade on the Nasdaq once the deal is completed...