Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Nasdaq threatens to delist Trump SPAC, Plastiq files for bankruptcy, and Virgin Galactic faces crucial test flight
Nasdaq threatens to delist the Trump SPAC from the stock market
Digital World Acquisition Corp. (NASDAQ:DWAC), the blank-check firm seeking to merge with former President Donald Trump’s media venture that owns the Truth Social app, has received a delisting notice from the Nasdaq.
In a press release Wednesday, Digital World said it “received an expected letter” from the stock market because it hasn’t filed a quarterly report for the period ending on March 31. The letter doesn’t mean the company will be delisted, but its stock could disappear from the Nasdaq exchange if it doesn’t get its act together soon.
READPayments Processor Plastiq Files for Bankruptcy After Aborted SPAC Deal
Payments processor Plastiq has filed for bankruptcy, less than a year after an aborted merger with a special-purpose acquisition company and weeks after Silicon Valley Bank’s collapse temporarily halted its operations.
San Francisco-based Plastiq sought protection from creditors Wednesday with a proposed deal to be acquired by publicly traded payments business Priority Technology Holdings.
Richard Branson’s Space-Tourism Dreams Face a Crucial Test Flight
Virgin Galactic Holdings Inc.(NYSE:SPCE), the space-tourism startup founded by Richard Branson, plans to send a six-person crew to the edge of space and back on Thursday — a crucial test of whether the company is ready to start its commercial space service late next month.
The flight, called Unity 25, is scheduled to take off at 8 a.m. local time from New Mexico with two seasoned pilots and four passengers — all Virgin Galactic employees. It’s the company’s first crewed mission in almost two years.
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Bold Eagle Acquisition Corp. announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “BEAGU”, Thursday, October 24, 2024. The new SPAC plans to search for a combination target valued at $3 billion or more that would benefit from the relationships and experience...
Oaktree Acquisition Corp. III Life Sciences announced the pricing of its $175 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “OACCU”, Thursday, October 24, 2024. The new SPAC plans to combine with a healthcare target or one in a healthcare-related industry in North America or Europe. The...
Translational Development (NASDAQ:TDACU) has filed for a $150 million IPO to extend underwriter BTIG’s strong three-month streak where it has represented nearly a third of new SPAC S-1s. This is BTIG’s fifth SPAC filed since August 8, and these have each borne some similar features. All have overfunded their trust slightly – Translational is overfunding...
At the SPAC of Dawn Pioneering an entirely new type of aircraft is necessarily a process fraught with turbulence, but eVTOL makers got a major lift Tuesday as the Federal Aviation Administration published its final ruling on “powered-lift” vehicles. This rule brings much needed clarity to the agency’s requirements for pilot training and operations and...
Horizon Space II (NASDAQ:HPSTU) has filed for a $60 million IPO to be the latest entry in the smaller tier of SPACs and underwriters to put a fresh try in motion. Since August 1, nine of the 17 new SPAC S-1’s have sought less than $200 million in their IPOs and smaller institutions like BTIG...