Tag Archives: SPAC

Donald Trump speaks during an election night event at Mar-a-Lago on November 08, 2022 in Palm Beach, Florida.Joe Raedle/Getty Images Digital World Acquisition fell 10% on Thursday after Donald Trump launched a line of $99 NFTs. Trump has teased a “major announcement” on Wednesday that led to a spike in Digital World’s stock price. Those gains were erased on Thursday as SPAC investors digested Trump’s NFT announcement. Former President Donald Trump’s launch of $99 digital NFTs failed to gin up… Source link

(Reuters) – Some investors are backing out of Digital World Acquisition Corp’s plan to acquire former U.S. President Donald Trump’s social media firm Truth Social, the blank-check firm said on Friday. Digital World said it had received termination notices from private investment in public equity (PIPE) investors ending nearly $139 million in investments out of the $1 billion commitment it had previously announced. Investors, who signed the PIPE commitment about one year ago, are free to move… Source link

TEL AVIV, Israel, Aug. 9, 2022 /PRNewswire/ — HUB Cyber Security (Israel) Limited (TASE: HUB), a developer of Confidential Computing cybersecurity solutions and services (“HUB” or the “Company“), announced today that following its announcement on July 5th, the Company has received a formal approval of the Israeli district court to summon shareholders meetings for the approval of the upcoming SPAC merger and listing terms on NASDAQ. HUB Security Logo If approved by the shareholders and the… Source link

By Svea Herbst-Bayliss, Anirban Sen and Arunima Kumar NEW YORK (Reuters) -Billionaire investor William Ackman, who had raised $4 billion in the biggest-ever special purpose acquisition company (SPAC), told investors he would be returning the sum after failing to find a suitable target company to take public through a merger. The development is a major setback for the prominent hedge fund manager who had initially planned for the SPAC to take a stake in Universal Music Group last year when… Source link

The SEC recently proposed new policies that would require companies being acquired through a special purpose acquisition company (SPAC) to undergo more stringent disclosure procedures relating to future projections, conflicts of interest, as well as potential dilution upon issuance of additional shares. The new rules would effectively eliminate many of the “safe harbor” protections and advantages of de-SPAC transactions over traditional IPOs that have made them so favorable in recent… Source link

(Bloomberg) — Shares of the shell company taking Donald Trump’s media venture public extended their selloff after a report that a pair of key executives resigned and Elon Musk bought a sizable stake in social-media competitor Twitter Inc. Most Read from Bloomberg Digital World Acquisition Corp., the special-purpose acquisition company merging with Trump Media & Technology Group, fell 10% Monday to extend a losing streak for a seventh-straight day as downloads of the Truth Social app dry up…. Source link

Famed short-seller Carson Block raised the alarm on special purpose acquisition companies (SPAC) at the height of their activity, building his bets while warning retail investors about “a scam” in the market. Now, the CEO of investment research firm Muddy Waters Capital is starting to see the reckoning. Since raising a record $144 billion through 613 blank check IPOs last year, investors have begun to turn on these companies, in the face of poor returns and choppy market conditions. From… Source link

‘This one is next’ — here’s why WallStreetBets founder Jaime Rogozinski is tapping Trump’s SPAC as the clear new meme trade Keeping a close eye on Reddit’s WallStreetBets forum has been a good idea for investors. The 11 million-member Internet community led the charge during GameStop’s two-week 1,500% short-squeeze in January and is largely responsible for AMC Entertainment’s massive 1,800% year-to-date run-up. Those incredible gains have led to the downfall of several hedge funds that… Source link

(Bloomberg) — Donald Trump’s sagging fortune is suddenly poised to get a massive boost from meme-stock mania. Most Read from Bloomberg News late Wednesday that the former president’s nascent media enterprise, Trump Media & Technology Group, is planning to go public via a special purpose acquisition company has sent retail investors into a frenzy, even with few details released. The stock gain drove the implied value of the new venture to more than $8.2 billion. Based on figures from press… Source link

Shares of Digital World Acquisition Corp (DWAC), the special purpose acquisition company which will merge with former President Trump’s social media company soared more than 270% on Thursday. Trading was briefly halted for volatility as retail investors piled on the stock.  Digital World Acquisition is one of the top trending tickers on Yahoo Finance. It’s also the #1 stock on Fidelity’s orders by retail customers, behind Tesla (TSLA). It is also the most mentioned ticker on Stockwits in the… Source link