The Latest SPAC News and Rumors: July 21, 2023
by Marlena Haddad on 2023-07-21 at 11:44am

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

Latest SPAC News: DWAC settles SEC charges of fraud and Global Hydrogen Energy selected by Port of Brownsville as private development partner in $15M funding application


SPAC that plans to merge with Trump Media settles SEC charges of fraud

A special purpose acquisition firm that is set to merge with former U.S. President Donald Trump’s media company settled regulatory charges that it had made “material misrepresentations” to investors.

The U.S. Securities and Exchange Commission (SEC) said on Thursday that Digital World Acquisition Corporation (NASDAQ:DWAC), which was found to have violated antifraud provisions of federal securities laws, agreed to a cease-and-desist order and to pay an $18 million penalty if it closes the merger.

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Global Hydrogen Energy Selected by Port of Brownsville as Private Development Partner in $15 Million Federal Funding Application

The Port of Brownsville, Texas, the largest land-owning public port authority in the United States, last month submitted an application seeking $15 million in funding under the U.S. Department of Transportation’s (“DOT”) Charging and Fueling Infrastructure Discretionary Grant Program (“CFI”).  Global Hydrogen Energy LLC (“Global Hydrogen”) was selected as the Port’s private hydrogen project development partner. Grant award decisions are expected later this summer.

Global Hydrogen, which seeks to be a leader in the sustainable energy transition as a next-generation industrial gas supplier, previously announced on May 15, 2023 that it had entered into a definitive agreement for a business combination with Dune Acquisition Corporation (Nasdaq: DUNE).

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