The Latest SPAC News and Rumors: August 16, 2023

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The Latest SPAC News and Rumors: August 16, 2023

by Marlena Haddad on 2023-08-16 at 11:36am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: Marcum LLP cites SEC charges as reason it stepped down as auditor of DWAC and Avertix Medical partners with Heart & Rhythm Institute of Trinity

Trump-Linked SPAC Auditor Cites SEC Charges as Trigger to Quit

Audit firm Marcum LLP said Tuesday it decided to step down as auditor of the blank-check company trying to take Donald Trump’s media company public after its client settled US regulator fraud charges in July.

The decision was “primarily in response to concerns regarding the Company’s management and governance structure following its July 20, 2023 settled order with the Commission,” the audit firm said in a letter it sent to the Securities and Exchange Commission on Aug. 15.

Special purpose acquisition company Digital World Acquisition Corp. (NASDAQ:DWAC) in July settled SEC charges that it misled the public by failing to disclose that it had formulated a plan to acquire Trump’s company prior to the SPAC’s initial public offering. DWAC will have to pay an $18 million penalty if the deal closes, the SEC said.

Heart & Rhythm Institute of Trinity and Avertix Announce Partnership to Improve Cardiac Care and Patient Monitoring

Avertix Medical, a company focused on improving long-term management and outcomes of high-risk coronary disease in patients who have survived one or more heart attacks, and the Heart & Rhythm Institute of Trinity, an ambulatory surgery center created by ten of the top cardiologists in the Tampa Bay area, announced today they have entered into an agreement to make the Guardian™ System, the first and only FDA-approved implantable heart attack detection and warning system, available to the Heart & Rhythm Institute of Trinity and its collaborative group of cardiologists who work across seven cardiology practices and serve seven hospitals in the area. This partnership seeks to enhance the Heart & Rhythm Institute’s commitment to redefining the future of cardiac care with cutting-edge technology.

On May 3, 2023, Avertix Medical, Inc. and BIOS Acquisition Corporation (Nasdaq: BIOS) announced that they entered into a definitive agreement for a business combination. Upon completion of the Transaction, the combined company’s common stock is expected to be listed on Nasdaq under the ticker symbol “AVRT.”

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