Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: US judge says Okada Manila does not have to close merger, and Lotus unveils electric sedan
US judge won’t order Philippine casino merger to close
The Philippines’ largest casino, owned by an affiliate of Japan’s Universal Entertainment Corp does not have to complete a SPAC merger deal with 26 Capital Acquisition Corp. (NASDAQ:ADER), a Delaware judge ruled on Thursday.
Vice Chancellor Travis Laster said the affiliate that owned Okada Manila did not have to complete the $2.5 billion deal 2021 merger in part because 26 Capital “engaged in conduct that should not be rewarded” by ordering the deal to close.
Lotus Unleashes Emeya, a Porsche Panamera-Like Electric Sedan
The next electric-vehicle maker poised to merge with a blank-check company will go public with some product momentum working in its favor.
Lotus, the British sports-car maker owned by China’s Geely, on Thursday unveiled the Emeya sedan, the first of three models it promised to show in three years after agreeing to combine with a special purpose acquisition company. In the investor presentation issued off the back of that deal, Lotus compared the Emeya to the Porsche Panamera.
Terms Tracker for the Week Ending September 6, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. It was a short holiday week and while it was light on filings, SPACs did manage to price two IPOs. That means 2024 has now...
Compass Digital (NASDAQ:CDAQ) has entered into a definitive agreement to combine with renewable energy firm EEW at a pro forma enterprise value of $386 million. London-based EEW is a solar, hydrogen and energy storage project developer with 1.4 GW of solar projects sold to date in Australia, the UK, Spain, and Sweden. The combined company...
Evergreen (NASDAQ:EVGR) has entered into a definitive agreement to combine with enterprise software firm Forekast at a pre-money enterprise value of $105 million. The company provides data analytics and customer engagement tools backed by some degree of AI automation to improve efficiencies for its business clients. The combined company is expected to trade on the...
At the SPAC of Dawn The auto-reply messages are off. SPACs are definitively back from vacation and in the thick of it. Two new SPACs are set to debut in trading today in Vine Hill (NASDAQ:VCICU) and Andretti II (NASDAQ:POLEU) and two SPACs have also landed their search on new targets, which could pull a...
Vine Hill Capital Investment Corp. announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VCICU”, Friday, September 6, 2024. The new SPAC intends to focus its search on a target business in the industrial and services industries, where it believes the expertise...