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.
At the SPAC of Dawn As a rough week in the market comes to a close, at least one de-SPAC has some cause to show off. Many fashion brands were among the hard hit in recent days and not simply for macro reasons. Luis Vuitton-owner LVMH (PA:MC) dropped this week after an earnings miss led...
Shepherd Ave Capital Acquisition Corp. (Nasdaq: SPHAU) is the latest SPAC to file to IPO, making 24 new registration statements that have filed since June 1, 2024. So far, only two of those 24 have gone public, but it does indicate an active August. In SPACLand at least, August is never slow. As for Shepherd...
At the SPAC of Dawn SPACs have now priced 20 IPOs seven months into 2024 with an eye on beating 2023’s total of 31 IPOs. With a little more than 5 months left in the year, it’s expected that SPACs should at least match that number by only needing to price roughly two IPOs per...
DT Cloud Star announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “DTSQU”, Thursday, July 25, 2024. The new SPAC aims to combine with an established business with long-term financial visibility, but has not limited itself to a particular industry or sector....
Launch Two (NASDAQ:LPBBU) has filed for a $200 million IPO that shows how the market has shifted for new issuance since its sister SPAC Launch One (NASDAQ:LPAAU) filed just over a month ago. Both SPACs are underwritten by Cantor Fitzgerald and seeking nominally the same raise at IPO, but Launch Two is overfunding its trust...