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The Latest Breaking News from SPAC

Is Digital World Acquisition (DWAC) a Winner?

Shares of special purpose acquisition company Digital World (DWAC) have plummeted more than 70% over the past year. The stock has been on a downtrend since news of the merger with Donald Trump’s media company broke in 2021, with federal investigations delaying the deal’s closing. So, following Trump’s recent indictment,…

StockNews.com

Why is VinFast going public via a SPAC instead of a traditional public offering?

VinFast, the high-spending Vietnamese automaker with bold plans in North Carolina, has for months sought a path to the stock market. It’s now poised to take an alternative route to get there.

Tribune News Service

VinFast Expects Sales Surge, Sees Opportunity To Break Even

VinFast recently said it will hit the US stock market via a SPAC that will close this year. This is the first guidance the company has provided since then.

InsideEVs

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Return of the SPAC? Sir Martin Franklin raises $550m war chest with London IPO

SPACs surged in popularity in 2020 and 2021, but have been a rarity since

Evening Standard

Here’s Why You Should Stay Away From Lordstown Motors (RIDE)

Once attracting intense interest for its commercial EV ambitions, the lights may go out on Lordstown Motors as RIDE stock crumbles badly.

Barchart

First Spac set up under new UK rules to close after failing to find merger target

Hambro Perks Acquisition Company blames ‘challenging circumstances’ for stock market listings

The Guardian - UK

‘Is Jonah Peretti axing himself too?’: Grief and anger among journalists as Buzzfeed News shuts down

Buzzfeed News is shutting down, and journalists took to social media last night to mourn its loss.

Newslaundry

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Canoo Chief Design Officer Richard Kim departs company

Richard Kim—who was behind Canoo’s sleek, futuristic award-winning design—helped propel the EV company to its initial notoriety.

Fortune

SPAC king Chamath Palihapitiya: end of ZIRP era spells doom for unprofitable startups

The billionaire venture capitalist has a harsh message for unprofitable startups: 'the mathematical truth of high interest rates is that it renders your company valueless.’

Fortune

Musk’s SpaceX has once less competitor as Virgin Orbit files for bankruptcy

The startup founded by the Brit will not attempt to reorganize under protection from creditors but instead will pursue an outright sale.

Fortune

How a dead pro basketball league is electrifying truck stops

The USBL shut down in 2008. But its stock never stopped trading.

Axios

Crypto Mining Platform Bitdeer Moves Step Closer to Nasdaq SPAC Listing

The deal, already delayed three times, would give the company an implied equity value of around $1.18 billion

Caixin Global

SPACs are back as British biotech firm Zura launches UK’s first Nasdaq listing in 2023

There are signs the SPAC could be making a comeback as a British biotech company will today use the unusual vehicle to become the first UK firm to list on the Nasdaq exchange in 2023.

Evening Standard

XTurismo Flying-Motorcycle Maker’s Value Plummets After SPAC Merger

Flying-motorcycle maker A.L.I. Technologies merges with special purpose acquisition company (SPAC) Pono Capital to create Aerwins Technology Inc (AWIN).

RideApart

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InsideEVs

Lotus Set To Go Public Via SPAC At $5.4 Billion Valuation

Lotus is set to go public under the ticker 'LOT'. The brand will be valued at $5.7 billion - a similar amount to Mazda.

Fortune

A battle may be shaping up between the two richest men in the world over who controls the luxury electric car market

The English sports car brand Lotus plans to float its shares on the Nasdaq stock market in the latter half of this year through a reverse merger with a SPAC firm backed by Bernard Arnault.

The Guardian - UK

Chinese owner of Lotus Technology to list a stake in US via blank cheque firm

EV maker and R&D arm of car group owned by Geely planning to join Nasdaq in deal with Spac backed by Bernard Arnault

Liverpool Echo

Everton investment latest as Farhad Moshiri meeting in Qatar explained

Everton have been seeking external investment as they look to complete their new stadium

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news in one place.

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Fortune

IPO outlook: After a boom and bust in recent years, 2023 may be the year unicorns Stripe, Chime, and Instacart list shares

The IPO pipeline closed in 2022, but there’s reason to believe that it may reopen as 2023 gets underway.

Fortune

The biggest deals, scandals, bets, and M&A breakups from a truly memorable year

All the notable deal news as told through a year of Term Sheets.

Tribune News Service

Great SPAC crash of 2022 deepens as investors cash out in droves

The great SPAC crash is closing out the year in dramatic fashion as more shareholders prepare to cash out of the speculative-investing industry for good.

Fortune

Circle pulls the plug on SPAC as stablecoin giant announces it is profitable

Circle and Concord Acquisition have called off a long-planned merger that would have made Circle a public company.

Fortune

As production begins at troubled EV company Canoo, internal documents show vehicle parts are still missing and late payments may lead to delays

The company has said it will complete its first 15 vehicles before the end of the year.

Birmingham Post

Belfast's Rockpool Acquisitions launches £22M bid for London engineering firm

The deal by the special purpose acquisition company will be known as a reverse takeover

Benzinga

Digital World Acquisition Corp Is By Far The Most Shorted SPAC: The Other Top SPACs Short Sellers Are Targeting

Digital World Acquisition Corp (NASDAQ: DWAC) shares plunged 20.1% on Wednesday morning after Republican candidates endorsed by President Donald Trump performed poorly

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