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The Latest Breaking News from SPAC

Trump’s Truth Social warns company may be forced to shut down amid huge losses

Filing reveals Truth Social’s parent company lost over $22m in first half of 2023

The Independent UK

As the Stock Hits New Lows, How Long Can Lucid Motors Survive?

With Lucid Motors stock falling to one new low after the other, many investors now wonder whether the company can stay in business. However, Lucid might not go bankrupt - at least, not for the next couple of years.

Barchart

Prominent SPAC King Criticizes U.S. For Unsustainable Borrowing Amid Rising Treasury Yields

Chamath Palihapitiya calls out fiscal policies and suggests selling long-dated maturities to match America's future

Zenger

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read the most diverse news in one place.

Apex Fintech CEO is eyeing an IPO—after pulling plans for a SPAC in 2021

Apex is in talks with banks about a possible IPO.

Fortune

Elon Musk’s Surprise Appearance At Fundraiser Sparks Speculation Of Alliance With GOP Presidential Candidate

Musk's growing camaraderie with Vivek Ramaswamy raises questions about potential political backing

Zenger

2 High-Risk EV Penny Stocks That Could Be Multibaggers for Investors

Several startup EV companies are now penny stocks. I believe Polestar and Lucid Motors are two high-risk names that could turn into multi-baggers if these companies deliver on their financial projections.

Barchart

Avoid This Overvalued EV Stock, Even at All-Time Lows

VinFast stock is hitting new all-time lows, and trading well below the SPAC IPO price of $10. But despite cratering more than 90% off all-time highs, VFS still doesn't look like a good value.

Barchart

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Venture Capitalist Palihapitiya Suggests A Surprising 2024 Presidential Contender

Chamath Palihapitiya believes Vivek Ramaswamy could surpass Trump as the GOP frontrunner.

Zenger

Trump's Truth Social gets a lifeline after deadline for a big cash infusion is extended

Donald’s Trump’s Truth Social got a lifeline this week after a blank-check company that could infuse the social media platform with cash agreed to extend a critical deadline for a year

The Independent UK

Trump’s Truth Social platform faces uncertain future as key test looms

Former president’s social media platform is asking shareholders in Digital World for another year to complete merger

The Guardian - US

Vishal Garg, the CEO who mass sacked employees over Zoom, suffers epic SPAC disaster as shares nosedive over 90%

“We’re building long-term value for shareholders,” finance chief Kevin Ryan said after Thursday's bloodbath. “This is just the beginning.”

Fortune

Trump SPAC Deal Is Almost Over – Will Sept. 5 Be The Day Of Its Demise?

A key date for the merger and the company's future is coming up soon.

Zenger

Here are the leading bidders for Goldman's lending unit Greensky

Second-round bids for GreenSky were due earlier in August, people familiar with the matter said.

Fortune

SoftBank-backed Better shrunk its staff by 91% in 18 months

“Cash is very important,” Better CEO Vishal Garg told Fortune in an interview about the impending SPAC merger and his decision to move forward after a series of delays.

Fortune

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Barchart

VinFast Stock Forecast: More Volatility Ahead for New EV Listing

VinFast went public through a SPAC reverse merger, and boasts a market cap in excess of established automakers like Ford and General Motors. I believe that the stock is grossly overvalued at these prices, and is set to extend its recent losses.

The Guardian - UK

Loss-making carmaker VinFast valued at more than Ford and BMW

Company founded by Vietnam’s richest man achieved $85bn valuation despite scathing early reviews of its electric vehicles

InsideEVs

VinFast Worth $85 Billion After Going Public, More Than GM, Ford, VW

VinFast stock soared in its debut as a public company on Nasdaq, with its market capitalization exceeding that of GM and Ford as traders flipped VFS shares.

InsideEVs

VinFast To Enter NASDAQ As "VFS"

VinFast has just completed a SPAC merger with Black Spade Acquisition Company. The EV manufacturer will enter the NASDAQ on August 15th.

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Fortune

How the Crosby Street Hotel became NYC’s venture capital hotspot

The SoHo hotel is where to stay and be seen for VCs.

Fortune

FC Barcelona, the Spanish soccer giant that couldn’t afford to re-sign Lionel Messi, just hit Wall Street with a bold $1 billion SPAC plan

The club, once home to football legend Lionel Messi, is trying to diversify its revenue amid years of mismanaged funds and mounting costs.

Fortune

From $47 billion to $270 million—WeWork, the Adam Neumann brainchild, keeps crashing after a 'going concern' warning

"Flexible workspaces have a future in the office ecosystem, but WeWork, in its current state, may not," BTIG analysts wrote Wednesday.

Zenger

Stock Market Rebound Drives U.S. IPO Market Recovery, Tech Sector Struggles

U.S. IPO Market Rebounds in 2023, Surpassing 2022 Levels as Tech IPOs Lag

Fortune

VCs love clean tech. But it might not love them back

The concerns VCs have about clean tech investing.

Tribune News Service

Trump-tied SPAC misled investors about conflicts, SEC alleges

Digital World Acquisition Corp., the blank-check company seeking to take Donald Trump’s social media company public, misled investors, according to the U.S. Securities and Exchange Commission.

Zenger

Trump Media SPAC Faces Setbacks As SEC Settles Fraud Charges

Digital World Acquisition misled investors by not disclosing discussions with Trump-led media company, SEC finds.

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