More COVFEFE. DWAC Jumps as Trump Posts on Truth Social

by | Apr 29, 2022

SMR begins trading next week. And the rest of the day’s news in SPACs.

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SV / NuScale Power Approved

Spring Valley Acquisition Corp. (SV )/ NuScale officially approved. Merger will close on 5/2 and NuScale will trade as SMR on 5/3.

ZNTE / Eve Business Update Ahead of Next Week’s Vote

Zanite Acquisition Corp. (ZNTE) / Eve UAM, LLC (Eve) provides a “business update” ahead of 5/6 merger vote. Eve,  a Brazilian subsidiary of Embraer SA (ERJ), produces electric vertical take-off and landing aircraft — ie. urban air mobility infrastructure solutions.

Victory Acquisition Withdraws IPO

Victory Acquisition Corp. (VACIU), which had been targeting the media, sports, and entertainment industries and counted Sammy Hagar and and Roger Staubach on its board, ditches SPAC IPO plans.

DWAC on the move as Trump is Back

More COVFEFE. Digital World Acquisition Corp. (DWAC) traded up 9% today as Donald Trump is back on the Truth Social platform after several months’ hiatus. The SPAC has rebounded sharply from its recent slide, and is trading up 384% from its lows. The app appears to have full functionality and downloads have jumped almost tenfold in recent days. Time will tell if the momentum holds given very little in the way of financial disclosures.

Source: Truth Social

April deSPACs

Just four SPACs made it out this month. Here’s a recap:

Source: Boardroom Alpha

Elsewhere in SPACs

Next week’s votes:

  • 5/3 (HK) AGBA extension
  • 5/3 LNFA extension
  • 5/5 BREZ extension
  • 5/5 ACEV / Temp Automation
  • 5/6 ZNTE / Eve

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