Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Trump media deal advisers were reprimanded by SEC, Marjorie Taylor Greene buys Trump-linked SPAC during height of trading frenzy, and DocGo secures multiple new contracts
Trump Media Deal Partner Advisers Were Reprimanded by the SEC
The financiers – Abraham Cinta, Sergio Camarero, Carlos Lopez and Jesus Emilio Hoyos Quintero – are managing partners of ARC Group Ltd, a Shanghai-based investment bank listed in a regulatory filing as a financial adviser to Digital World Acquisition Corp (NASDAQ:DWAC), the shell company merging with the former U.S. President’s venture.
Digital World touted ARC in one filing as adviser that had contacts in government, corporate, investment and advisory worlds and would help it “get access to quality deal pipeline.”
A review of regulatory filings shows that while ARC has been actively involved in the creation of SPACs, especially over the past two years, its executives ran into trouble with the U.S. SEC in 2017. The regulator sued to block the IPOs of three companies where the four men had leading roles, accusing them of misrepresenting their connections, misstating the nature and scope of their businesses and failing to cooperate with regulators.READ
Marjorie Taylor Greene Buys Trump-Linked SPAC During Height of Trading Frenzy
Representative Marjorie Taylor Greene, one of Donald Trump’s most vocal supporters, bought as much as $50,000 worth of shares in a blank-check company tied to the former president during a frenzied day of trading for the firm last week.
After skyrocketing on Friday, shares in Digital World Acquisition Corp.(NASDAQ:DWAC) have since fallen about 22% this week. The stock was at around $73 a share midday on Thursday, after trading for as much as $175 last week.
It’s unclear how much money, if any, Greene may have lost so far. In a filing, the Georgia Republican disclosed that she bought between $15,001 and $50,000 in the company on Friday but didn’t specify the purchase price. The stock gyrated that day, falling as low as $67.96 before closing at $94.20.READ
DocGo Secures Multiple New Contracts to Expand its Services Nationwide
DocGo, a leading provider of last-mile Mobile Health services and integrated medical mobility solutions that has entered into an agreement to merge with Motion Acquisition Corp. (NASDAQ: MOTN), has secured multiple new contracts that will enable its services to reach a wider patient population.
Expanding its presence in key markets across the country, DocGo is introducing additional services including Mobile Health for the residents of San Diego, CA and the homeless population in Delaware County, PA, monoclonal antibody infusion treatment for patients in Arizona, and COVID-19 testing at schools in Philadelphia and South Carolina.READ
Latest SPAC Liquidations: 26 Capital Acquisition Corp. 26 Capital Acquisition Corp.(ADER) to Liquidate on September 21, 2023 26 Capital Acquisition Corp. (Nasdaq: ADER), today announced that it will be unable to complete an initial business combination within the time period required due to the Delaware Court of Chancery’s decision denying 26 Capital’s request for an order...
LatAmGrowth SPAC (NASDAQ:LATG) announced in an 8-K that it adjourned its special meeting yesterday to liquidate early and will reconvene it at 2 pm ET September 28. The proposals on its ballot would have initiated the process of winding down the SPAC and returning all trust capital to investors outside of $100,000 for dissolution expenses....
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. JSE reviewing listing requirements with aim to simplify them The Johannesburg Stock Exchange will be reviewing all its listings requirements with the objective of further simplifying its requirements, as part of its ongoing efforts to create an...
Nabors Energy Transition Corp. (NYSE:NETC) announced this morning that Vast has added an equity commitment of up to $10 million to its combination with concentrated solar power producer Vast. The new commitment comes at $10.20 per share from the Canberra Airport Group and half of it is to come up front at close. A further...
M3-Brigade III (NYSE:MBSC) announced this morning that it has closed its combination with Canadian energy producer Greenfire and the combined company is expected to trade on the NYSE under the symbol “GFR” later today. Concurrent with close, Greenfire also issued $300 million in new senior secured notes at a 2% discount, priced at $980 per...