Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Southland awarded $102M from Louisiana Dept. of Transportation, REE lays off 11% of team
Southland Awarded $102 Million Louisiana Department of Transportation and Development Nelson Road Extension and Bridge Project
Southland Holdings, LLC announced today that a subsidiary in its Transportation segment, Johnson Bros., has been awarded a $102 million contract to construct the Nelson Road Extension and Bridge for the Louisiana Department of Transportation and Development in Lake Charles, Louisiana.
On May 25th, 2022, Southland entered into an Agreement and Plan of Merger with publicly-traded Legato Merger Corp. II, a special purpose acquisition company (NASDAQ: LGTO, LGTOU, and LGTOW).
READREE laying off 11% of team after losing 95% of market cap
Israeli auto-tech company REE Automotive notified its employees on Thursday that it will be laying off 31 team members, accounting for 11% of the workforce. REE is still not generating revenue and as of the end of September 2022 had $185 million left in its account after losing $100 million in the first nine months of the year.
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...
FTAC Emerald (NASDAQ:EMLD) has entered into a definitive agreement to combine with crypto fintech firm Fold at an enterprise value of $381 million. Phoenix, Arizona-based Fold provides digital banking services backed by a treasury of Bitcoin that includes FDIC-secured checking accounts as well Bitcoin trading and awards. The combined company is expected to trade on...