Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: ELMS signs battery supply deal with CATL, Redbox enters into multiyear distribution deal with Lionsgate, and NextNav collaborates with Qualcomm
Commercial EV Startup ELMS Signs Battery Supply Deal with CATL
U.S. commercial electric vehicle maker Electric Last Mile Solutions Inc (ELMS) (ELMS.O) on Thursday said it has signed a battery supply deal with China’s Contemporary Amperex Technology Co Ltd (CATL).
Financial terms of the deal, which runs through 2025, were not disclosed. CATL’s batteries power the Class 1 small delivery vehicle that ELMS began building last month at its plant in Mishawaka, Indiana.
ELMS entered into a definitive agreement to combine with Forum Merger III on December 11.
Redbox Enters Into Multiyear Distribution Deal for Lionsgate to Distribute Redbox Entertainment Originals and License AVOD Content
Global content leader Lionsgate (NYSE: LGF.A, LGF.B) and entertainment company Redbox today announced a multiyear distribution deal under which Lionsgate will handle distribution of Redbox Entertainment titles across home entertainment windows in addition to subscription video on demand (SVOD) licensing for select titles under the Redbox Entertainment brand.
Redbox recently announced a definitive agreement to combine with Seaport Global Acquisition Corp. (NASDAQ:SGAM).
READNextNav and Qualcomm Collaborate to Deliver Precise Vertical Location for E911 Emergency Services
NextNav, a leader in next generation GPS, today announced that it is collaborating with wireless technology innovator Qualcomm Technologies, Inc. to enable NextNav’s Pinnacle 911 z-axis software and network-based services for use with the Qualcomm Innovation Suite. This effort makes it easy for device and original equipment manufacturer (OEM) vendors to integrate z-axis capabilities into existing carrier infrastructure for 911 purposes.
In June 2021, NextNav entered into a definitive merger agreement with Spartacus Acquisition Corporation (NASDAQ: TMTS).
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Willow Lane (NASDAQ:WLACU) has filed for a $110 million SPAC to be the latest repeat SPAC team returning to the market with the help of underwriter BTIG. BTIG is, in fact, leading recent underwriter activity with four new SPACs filed since the August 1, while no other firm has been left lead for more than...
At the SPAC of Dawn While SPACs settle into a slight pause through Rosh Hashanah, de-SPACs are also entering another period of holiday-based trading patterns. Traders following the usual “Sell in May and Go Away” pattern this year would have missed out on a major late-summer market rally. But, stocks may now feel the effects...
At the SPAC of Dawn As SPACs switch back into gear with a new cycle, traditional IPO road shows are heating up into the fourth quarter as well. A raft of private equity-backed companies have determined now is the time to strike and the period between the Fed’s September rate slash and the November election...
Earth, Wind & Fire may have been on to something with the end of September and “chasin’ the clouds away“. The SPACs from the past are still lingering which are affecting the averages as newly issued SPACs have come to market in the past year. Each has the same goal of bringing a target company...
Ocean Capital Acquisition Corporation (Nasdaq:OCACU) filed this morning for a $60 million offering to be underwritten by Brookline Capital Markets. This is only the second offering for Brookline where they will be in the position of sole bookrunner, with DT Cloud Acquisition Corporation being their first. However, Brookline has been a bookrunner to the right...