The Latest SPAC News and Rumors: March 29, 2023
by Marlena Haddad on 2023-03-29 at 11:34am

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.

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White & 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.”

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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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