Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Getaround expands operations in Seattle, Better faces whistle-blower lawsuit, and Voltus to provide distributed energy resources to relieve grid shortages in U.S. and Canada
Getaround Brings Expanded Carshare Access to the City of Seattle
Getaround, the world’s leading digital carsharing marketplace, today announced that the company is expanding operations in the city of Seattle, Washington to increase residents’ access to reliable transportation with expanded carsharing. The company has collaborated with the Seattle Department of Transportation (SDOT) to bring carshare vehicles to dedicated parking spaces across the city.
On May 11, 2022, Getaround announced its entry into a definitive business combination agreement with InterPrivate II Acquisition Corp. (NYSE: IPVA).
READBetter Whistle-Blower Suit Accuses CEO of Misleading Investors
Better, the online mortgage lender whose chief executive officer infamously fired 900 staffers on a Zoom call, is now facing a whistle-blower lawsuit.
CEO Vishal Garg misled investors in his effort to keep them on board with his plans to take the company public, an ex-executive said in a complaint filed Tuesday in Manhattan federal court.
READVoltus Expects to Provide Nearly 2,600 MW of Distributed Energy Resources to Relieve Grid Shortages Across the U.S. and Canada
Voltus, Inc., the leading DER software platform, announced today that its nearly 2,600 MW portfolio is prepared to help meet anticipated supply shortages this summer across the U.S. and Canada. In a recently published report, the North American Electric Reliability Corp. (NERC) warned that Texas, New England, the Midcontinent Independent System Operator (MISO), and parts of the West are at higher risk of energy shortfalls.
On November 30, 2021, Broadscale Acquisition Corp. (Nasdaq: SCLE) entered into a definitive agreement for a business combination with Voltus.
READMobiv 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...