Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lotus Robotics designated by leading automakers to license its driving solutions and VinFast’s rally burns traders playing greater fool theory
Lotus Robotics Designated by Leading Automakers to License its Intelligent Driving Solutions
Lotus Technology Inc. a leading global luxury electric vehicle maker, announced today that its intelligent driving arm, Lotus Robotics, has been designated to license several leading automakers to provide them with its intelligent driving technology and software. The announcement demonstrates the R&D prowess that is driving the growth of Lotus Tech’s technology-related revenues as the Company executes its Vision80 business transformation strategy.
As announced in January 2023, Lotus Tech entered into a definitive agreement and plan of merger with L Catterton Asia Acquisition Corp (NASDAQ: LCAA).
READVinFast’s 504% Rally Burns Traders Playing Greater Fool Theory
Eleven interest-rate hikes by the Federal Reserve have done little to break the gambling fever gripping the US stock market.
In episodes strikingly similar to those in the wildest moments of the early pandemic — think GameStop Corp. and AMC Entertainment Holdings Inc. — investors are frantically bidding up obscure stocks only to then watch them crash spectacularly. The very latest example: VinFast Auto Ltd (NASDAQ:VFS), an unprofitable electric-vehicle maker that at the zenith of a four-week trading frenzy had a market value greater than McDonald’s Corp. and four times that of General Motors Co. The stock has sunk roughly 80% in the eight days since.
Terms Tracker for the Week Ending November 24, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This being the Thanksgiving holiday week, we are thankful for a lot of things, but mostly that 2023 is almost over. It’s been a rough...
At the SPAC of Dawn Though perhaps stuffed to the brim, SPAC activity continues this Thanksgiving Friday with votes by Clean Earth and Zalatoris to extend a deadline and amend trust contributions, respectively. At least seven de-SPACs are also reporting earnings today and will do so going into a futures market that is mostly green...
IB Acquisition Corp. submitted its S-1 filing Friday afternoon for a $100 million IPO, coming right on the heels of Bayview Acquisition Corp, which also filed its S-1 that day. IB is also similar to Bayview in that its units do not feature a warrant but include 1 right for 1/10. However, its trust is slightly...
Integrated Wellness (NYSE:WEL) announced in an 8-K filing that it agreed to transfer control of its sponsor to Sriram Associates, which will now take on the SPAC’s financial obligations and may appoint a new team. Sriram is acquiring 2,012,500 promote shares (70%) and 4,795,000 private placement warrants (70%) for the nominal purchase price of $1....
At the SPAC of Dawn So far, seven SPACs have announced their liquidations this week and although some others may choose to use the holiday to quietly disband, this tends to be a positive week for equities in general. Going back to 1961, the S&P 500 has ended the Thanksgiving week with gains three-quarters of...