Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: DWAC regains compliance with Nasdaq, White & Case amicably resolves dispute with Colonnade II, and Nikola’s CFO steps down
Trump-backed SPAC Digital World regains compliance with Nasdaq listing
Digital World Acquisition Corp (NASDAQ:DWAC), a blank-check firm that is to merge with former U.S. President Donald Trump’s social media platform, said on Wednesday it had been cleared by the Nasdaq over non-payment of certain dues.
“The company’s fee delinquency has been cured, and as a result the company has regained compliance with the applicable listing standard,” it said in an exchange filing, adding that a scheduled hearing next month related to the issue had been canceled.
READWhite & Case settles with SPAC after derailed $480M deal
Law firm White & Case has quickly ended a lawsuit seeking legal fees from a special purpose acquisition company whose plans for a $480 million merger fizzled.
White & Case, which last week sued former SPAC client Colonnade Acquisition Corp II and its directors in New York state court for more than $8.2 million, said in a Friday filing the parties “have amicably resolved their disputes.”
Nikola’s CFO Steps Down in Startups’ Latest High-Level Exit
Nikola Corp.’s (NASDAQ: NKLA) chief financial officer is stepping down next month in a shakeup of the zero-emission vehicle startup’s top ranks.
Kim Brady, who has been a source of stability amid managerial turmoil, will leave as finance chief at the Phoenix-based company on April 7 before departing later that month, the company said in a statement March 27. He has served as CFO since November 2017.
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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...