Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: DWAC encounters another setback as auditor abruptly resigns, and Movella launches first all-in-one broadcasting app for engaging livestreams
Trump-Tied SPAC Hits Another Snag as Auditor Abruptly Resigns
A deal to take Donald Trump’s media company public is facing another major setback, putting into question whether it will ever get completed.
Special-purpose acquisition company Digital World Acquisition Corp. (NASDAQ:DWAC) said in a filing Tuesday that its auditor Marcum LLP — which has been riddled with regulatory problems of its own — abruptly resigned. The departure puts its merger with Trump Media & Technology Group in peril.
Movella Launches OBSKUR: The First All-In-One Broadcasting Application for Engaging Livestreams
Movella Holdings Inc. (NASDAQ:MVLA), a leading full-stack provider of sensors, software, and analytics that enable the digitization of movement, today announced the launch of OBSKUR: the first all-in-one broadcasting application for engaging livestreams built on Unreal Engine 5. OBSKUR makes it easy for anyone to create compelling 3D streams, build a community, and efficiently interact with their audience.
Movella completed its business combination with Pathfinder in February.
Mobiv Acquisition Corp. (NASDAQ:MOBV) announced this afternoon that it has closed its combination with EV motorcycle-maker SRIVARU. Shareholders originally approved the deal at a special meeting held back on September 28, but at that time, the parties expected the transaction to take just a week to close. Redemptions whittled Mobiv’s IPO share pool of 10,005,000 down...
Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the...
EF Hutton Acquisition Corp. I (NASDAQ:EFHT) announced this morning that its shareholders have approved its business combination with E.C.D. Auto Design. At the meeting, there were 5,089,203 shares of common stock, representing approximately 76.82% of the issued and outstanding shares of common stock, present. In connection with the meeting, the company’s stockholders holding 3,470,945 shares,...
Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...
At the SPAC of Dawn This week ends with an unusually busy earnings calendar as 172 US-listed companies report quarterly figures today. Among them is Exela Technologies (NASDSAQ:XELA), which completed a combination with Quinpario 2 in 2017. The billing software company has gone on to do another SPAC deal on November 29, this time spinning...