Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: NuScale gains after completing merger, and Giga Carbon Neutrality initiates discussions on merger with SPAC
Nuclear-Tech Firm NuScale Gains After Completing SPAC Merger
NuScale Power Corp.(NYSE:SMR), an advanced nuclear technology company, rose on its first day of trading after completing a merger with blank-check company Spring Valley Acquisition Corp.
The Fluor Corp.(NYSE:FLR)-backed company gained 5.5% to close at $10.55 on Tuesday. It raised $380 million through the deal with the special purpose acquisition company.
READGiga Carbon Neutrality Initiates Discussions on Business Merger with Major Exchange Listed SPAC
Giga Carbon Neutrality Inc, the intelligent commercial mobility and clean energy technology company, today announced that it has signed a Letter of Intent (LOI) with a major stock exchange listed SPAC to work toward a Definitive Agreement for a merger of both companies.
If the discussions are successful, GCN will merge its new energy mobility solutions – both battery and hydrogen powered logistics vehicles, specialist vehicles and buses – and mobile and stationary energy storage capabilities with the SPAC forming a new publicly traded company.
READPlum Acquisition Corp. I (NASDAQ:PLMI) has entered into a definitive agreement to combine with digital transformation company Veea for a total enterprise value of approximately $281 million. New York City-based Veea aims to simplify secure edge computing by improving application responsiveness, reducing bandwidth and data transport costs, and eliminating central cloud dependency. The parties expect the transaction to be...
L Catterton Asia (NASDAQ:LCAA) announced this morning that it has upsized the committed financing in its combination with EV sports car maker Lotus to $870 million in total. The latest fuel injection comes in the form of $750 million in convertible notes and PIPE commitments under so far undisclosed terms. Counted purely as a PIPE,...
At the SPAC of Dawn SPAC closing timelines can always be somewhat unpredictable, but PROOF I (NYSE:PACI) has the opportunity today to vie for a recent speed record today. It announced a combination with private aviation firm Volato 118 days ago on August 2 and its shareholders are set to vote to approve the combination...
Dune Acquisition Corporation (NASDAQ:DUNE) announced in an 8-K today that it has once again modified its agreement with sustainable energy firm Global Hydrogen. This amendment marks a reduction in Global Hydrogen’s equity value from $48 million to $43 million, alongside an increase in the available shares of common stock that is for the Global Gas Corporation...
At the SPAC of Dawn After mixed signals for the consumer sector earlier this month, initial Black Friday sales numbers have shown that Americans were not too stuffed for a shopping spree this year. Shoppers bagged between $9.8 billion and $10 billion in goods online, depending on one’s preferred source, either of which would be...