Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Pinstripes Expands Senior Leadership Team, Hires Chief Financial Officer and Chief Marketing Officer in Advance of Public Listing
Pinstripes, Inc, a best-in-class experiential dining and entertainment brand combining bistro, bowling, bocce and private event space, today announced additions to its leadership team, including the appointments of Tony Querciagrossa as Chief Financial Officer (CFO) and Shannon Keller as Chief Marketing Officer (CMO), both reporting directly to the Company’s Founder and CEO, Dale Schwartz. […]
Jaguar Global and GLAAM/Captivision Announce Significant New Projects
Jaguar Global Growth Corporation I (NASDAQ:JGGC, JGGCR, and JGGCW) and GLAAM, Co., Ltd., a leading designer and manufacturer of architectural media glass, and Captivision Inc., today announced that GLAAM has been selected as the main supplier of media glass for two prominent new properties in South Korea.
GLAAM will be supplying over 16,000 sq. ft. of glass for each of the Mohegan INSPIRE Entertainment Resort in Incheon and the Magok Meeting, Incentives, Convention, and Exhibition complex in Seoul, with its proprietary G-Glass serving as the main façade of both complexes.
Western University Foundation Removes Allocation To SPACs; Adds New Commitments
The foundation amended its asset allocation policy, removing its allocation to special purpose acquisition company assets, and added several commitments within its endowment during its second quarter investment committee meeting.
SEC Charges Hydrogen Vehicle Co. Hyzon Motors and Two Former Executives for Misleading Investors
The Securities and Exchange Commission today announced settled fraud charges against Hyzon Motors Inc., an upstate New York-based company that builds hydrogen fuel cell electric vehicles (FCEVs), for misleading investors about its business relationships and vehicle sales before and after a July 2021 merger with Decarbonization Plus, a publicly-traded special purpose acquisition company. The SEC also charged Craig M. Knight, Hyzon’s former CEO, and Max C.B. Holthausen, former managing director of Hyzon’s European subsidiary, for their roles in the fraudulent scheme. […]
Without admitting or denying the SEC’s allegations, Hyzon, Knight, and Holthausen each consented to permanent injunctions and to pay $25 million, $100,000, and $200,000, respectively, in civil penalties. Knight and Holthausen also agreed to prohibitions from serving as officers or directors of a publicly traded company for a period of five and ten years, respectively. The settlements are subject to court approval.
Class-action lawsuit alleges Archer misled investors about air taxi progress
Archer Aviation faces a class-action lawsuit alleging that it and top executives misled investors about Archer’s business prospects and its progress in certificating an electric air taxi. […]
Archer denies the allegations. “We believe the claims are without merit and we intend to defend ourselves vigorously,” the company says. It declines to elaborate. The suit was filed by law firm Pomerantz, which is an active litigator of class-action suits brought against various companies.
Terms Tracker for the Week Ending December 8, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Well that escalated quickly. While last week was quiet, this week was far busier. SPACs saw one IPO start trading after pricing on Friday of...
Mobiv Acquisition Corp. (NASDAQ:MOBV) announced this afternoon that it has closed its combination with EV motorcycle-maker SRIVARU. Shareholders originally approved the deal at a special meeting held back on September 28, but at that time, the parties expected the transaction to take just a week to close. Redemptions whittled Mobiv’s IPO share pool of 10,005,000 down...
Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the...
EF Hutton Acquisition Corp. I (NASDAQ:EFHT) announced this morning that its shareholders have approved its business combination with E.C.D. Auto Design. At the meeting, there were 5,089,203 shares of common stock, representing approximately 76.82% of the issued and outstanding shares of common stock, present. In connection with the meeting, the company’s stockholders holding 3,470,945 shares,...
Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...