Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lucid recalls EV sedans due to safety defect, Phunware sued by angel investors, and Gogoro manufactures one-millionth battery
Lucid Is Recalling About 200 High-End EV Sedans Due to a Safety Defect
Lucid Group Inc.(NASDAQ:LCID), a maker of luxury electric vehicles, is recalling about 200 cars due to a safety defect that could increase the likelihood of collisions.
A piece on the Lucid Air’s front strut dampers may have been installed incorrectly due to an error by a supplier, the company said in an email to customers that was seen by Bloomberg. “This condition may result in a sudden loss of ground clearance, vehicle vibration and front brake line damage, increasing the risk of a crash,” Newark, California-based Lucid told customers.
READPhunware Sued by Angel Investors Challenging SPAC Stock Lockup
A group of Phunware Inc. (NASDAQ:PHUN) investors sued the business and its leaders in Delaware, claiming they were wrongly subjected to a stock lockup clause after its reverse merger with a blank-check company, even though the provision only covers insiders and shareholders with stakes larger than 1%.
The lawsuit, filed Feb. 18 by more than dozen individual stockholders and investment firms, targets the mobile marketing and cryptocurrency services company, along with current and former members of its board and senior management.
Gogoro Manufactures One-Millionth Battery, Demonstrates Success of Open Battery Swapping Ecosystem
Gogoro® Inc., a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced it has manufactured its one-millionth battery. Launched in 2015, Gogoro Battery Swapping has become the de facto battery swapping standard for two-wheel vehicles in Taiwan, powering 95% of all electric two-wheelers. Gogoro’s open battery swapping ecosystem in Taiwan currently supports seven different vehicle brands and accounted for more than 25% of all two-wheelers sold in Taipei in December 2021.
Gogoro entered into a definitive agreement to combine Poema Global (NASDAQ:PPGH) last year on September 16.
READ
Latest SPAC Liquidations: 26 Capital Acquisition Corp. 26 Capital Acquisition Corp.(ADER) to Liquidate on September 21, 2023 26 Capital Acquisition Corp. (Nasdaq: ADER), today announced that it will be unable to complete an initial business combination within the time period required due to the Delaware Court of Chancery’s decision denying 26 Capital’s request for an order...
LatAmGrowth SPAC (NASDAQ:LATG) announced in an 8-K that it adjourned its special meeting yesterday to liquidate early and will reconvene it at 2 pm ET September 28. The proposals on its ballot would have initiated the process of winding down the SPAC and returning all trust capital to investors outside of $100,000 for dissolution expenses....
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. JSE reviewing listing requirements with aim to simplify them The Johannesburg Stock Exchange will be reviewing all its listings requirements with the objective of further simplifying its requirements, as part of its ongoing efforts to create an...
Nabors Energy Transition Corp. (NYSE:NETC) announced this morning that Vast has added an equity commitment of up to $10 million to its combination with concentrated solar power producer Vast. The new commitment comes at $10.20 per share from the Canberra Airport Group and half of it is to come up front at close. A further...
M3-Brigade III (NYSE:MBSC) announced this morning that it has closed its combination with Canadian energy producer Greenfire and the combined company is expected to trade on the NYSE under the symbol “GFR” later today. Concurrent with close, Greenfire also issued $300 million in new senior secured notes at a 2% discount, priced at $980 per...