SPACInsider Logo
The Latest SPAC News and Rumors: November 10, 2022
by Marlena Haddad on 2022-11-10 at 11:44am

 


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Forbes enters into exclusive buyout talks with investor group, Intuitive Machines mission control cleared to track Artemis I, and court partially rebukes securities suit against Virgin Galactic SPAC deal


Forbes enters into exclusive buyout talks with investor group 

Business news and information publisher Forbes said on Wednesday it has entered into “exclusive discussions” with an investor consortium for the sale of the company.

The move comes months after the publisher pulled out of a deal to go public through a special purpose acquisition company. In August, it said it hired Citigroup to manage the sale.

The consortium comprises of family offices and global investors, a Forbes spokesman said in a statement, but did not disclose the value of the deal.

READ

Intuitive Machines Mission Control Cleared to Track Artemis I Mission

Intuitive Machines, LLC (“Intuitive Machines” or the “Company”), a leading exploration, infrastructure, and services company, today announced NASA’s approval for Intuitive Machines to utilize its mission control and global ground station network to track the Artemis I Mission (“Artemis I”). Artemis I is NASA’s first mission in a series of increasingly complex missions that are expected to enable human exploration to the Moon and Mars.

As previously announced on September 16, 2022, Intuitive Machines signed a definitive business combination agreement with Inflection Point Acquisition Corp. (Nasdaq: IPAX, IPAXU, IPAXW).

READ

Court Partially Rebukes Securities Suit Against Virgin Galactic SPAC Deal

On Monday, Judge Allyne Ross of the Eastern District of New York issued an opinion that granted in part and denied in part a motion to dismiss the complaint in a federal securities law class action brought against Virgin Galactic (NYSE:SPCE), Richard Branson and other individual defendants.

Plaintiffs allege violations of Sections 10(b), 20(a) and 20(A) of the Securities Exchange Act of 1934. Defendants’ motion addressed the sufficiency of the allegations in the Corrected Amended Complaint. In their 153 page pleading, plaintiffs allege that at the beginning of the class period (when Virgin Galactic went public), “Defendants claimed it [Virgin Galactic] was on the cusp of sending tourists to space.” In fact, according to plaintiffs, the program had tremendous safety problems. “When the truth emerged through unexplained flight program delay after unexplained delay, as well as several corrective disclosures, investors suffered tremendous losses.”

READ

 

Recent Posts
by Kristi Marvin on 2023-01-28 at 1:59pm

Terms Tracker for the Week Ending January 27, 2022 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re coming up on the end of January, the first month of the year, and to-date no new S-1s have been filed. Additionally, the number...

by Marlena Haddad on 2023-01-27 at 11:34am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Circle spokesperson denies blaming SEC for failed deal, BuzzFeed CEO says AI-powered content will be part of core business, and FaZe Clan faces possible delisting Circle Spokesperson Denies Blaming SEC for Failed $9 Billion Deal...

by Nicholas Alan Clayton on 2023-01-27 at 10:00am

Health Sciences 2 (NASDAQ:HSAQ) announced that it closed its combination with Orchestra BioMed on January 26. HSAQ ahead of its vote pre-announced redemption figures of 1,597,888 shares equating to 67.7% redemptions, however, that’s still subject to change.  However, today it was noted that Orchestra BioMed is to receive $70 million in gross proceeds including $20...

by Kristi Marvin on 2023-01-27 at 7:33am

Carbon capture technology has long been talked about, and it is finally in operation with LanzaTech among the pioneers. Its plants are turning potential emissions into clothing, household goods and sustainable fuels. SPAC cash is now also an accelerant in this new process as the company announced a $1.7 billion combination with AMCI II last March. This week, we caught up with...

by Nicholas Alan Clayton on 2023-01-27 at 7:30am

In this series we’ll be examining successful SPAC deals from the past both in the terms and circumstances of their de-SPAC processes and how they have weathered the storms that have followed after their public listings with research from SPACInsider contributor Anthony Sozzi. Thirty months does not sound like that long, but it’s been a...

Privacy Policy|Terms Of Use
Copyright © 2022 SPACInsider, Inc. All Rights Reserved