Last week, Digital World Acquisition (DWAC), the SPAC taking Trump’s TMTG public, was denying reports that the Trumps had left the board of TMTG and its stock was trading at its lowest levels since announcing the deal. Today, however, in the wake of Elon Musk trying to terminate his acquisition of Twitter (TWTR) shares soared over 20% to near $30.
While the increase will please DWAC longs, there are still numerous obstacles that the company has to climb to get this one over the finish line. Including several pending subpoenas, potential court cases and SEC red tape to get thru. In the meantime, it will be exciting to watch the drama play out.
Elsewhere in SPACs
- The biggest SPAC of all time, Bill Ackman’s Pershing Square Tontine Holdings (PSTH), announced it will liquidate its $4B trust later this month, ending the road for the super popular and often discussed SPAC. Shareholders will be paid $20.05 a share. Look out for Ackman to continue pushing forward with the SPARC idea at Pershing Square SPARC Holdings, Ltd.
- Chicken Soup for the Soul Entertainment (CSSE) has set an August 9th date for shareholders to approve its proposed merger of former DeSPAC Redbox Entertainment (RDBX). The merger terms would value RDBX shares at ~$0.67, while RDBX closed today at $5.76.
- Amprius Technologies, Inc. announced that SPAC sponsor CEO Justin Mirro will join its board following the completion of its merger with Kensington Capital Acquisition Corp. IV (KCAC).
- Fast Acquisition Corp II. (FZT) is said to have struck a SPAC deal ~$1B for Falcon’s Beyond Global
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Today’s Price Action
Biggest Gainers
20.11% ~ $ 29.45 | DWAC – Digital World Acquisition Corp. (Announced)
2.58% ~ $ 10.35 | FOXW – FoxWayne Enterprises Acquisition Corp. (Pre-Deal)
2.41% ~ $ 10.85 | NLIT – Northern Lights Acquisition Corp. (Announced)
1.60% ~ $ 10.17 | CFVI – CF Acquisition Corp. VI (Announced)
.50% ~ $ 10.15 | ACEV – ACE Convergence Acquisition Corp (Announced)
.42% ~ $ 9.66 | NFYS – Enphys Acquisition Corp. (Pre-Deal)
.42% ~ $ 9.67 | LOCC – Live Oak Crestview Climate Acquisition Corp. (Pre-Deal)
.41% ~ $ 9.69 | IPAX – Inflection Point Acquisition Corp. (Pre-Deal)
.41% ~ $ 9.80 | GLHA – Glass Houses Acquisition Corp. (Pre-Deal)
.41% ~ $ 9.85 | TWNI – Tailwind International Acquisition Corp. (Pre-Deal)
.41% ~ $ 9.85 | ANAC – Arctos NorthStar Acquisition Corp. (Pre-Deal)
.41% ~ $ 9.86 | CHAA – Catcha Investment Corp (Pre-Deal)
.40% ~ $ 9.93 | FHLT – Future Health ESG Corp. (Announced)
.40% ~ $ 9.96 | HAIA – Healthcare AI Acquisition Corp. (Pre-Deal)
.40% ~ $ 10.00 | SHAP – Spree Acquisition Corp. 1 Ltd (Pre-Deal)
.37% ~ $ 9.80 | KVSA – Khosla Ventures Acquisition Co (Pre-Deal)
.36% ~ $ 9.87 | RFAC – RF Acquisition Corp. (Pre-Deal)
.31% ~ $ 9.69 | SLVR – SILVERspac Inc (Pre-Deal)
.31% ~ $ 9.69 | TPBA – TPB Acquisition Corporation I (Pre-Deal)
.31% ~ $ 9.70 | PSPC – Post Holdings Partnering Corporation (Pre-Deal)
Biggest Losers
-7.20% ~ $ 9.28 | DNAC – Social Capital Suvretta Holdings Corp. III (Announced)
-2.09% ~ $ 9.84 | ROCL – Roth CH Acquisition V Co. (Pre-Deal)
-1.01% ~ $ 9.77 | BLEU – bleuacacia ltd (Pre-Deal)
-.90% ~ $ 9.90 | MEKA – MELI Kaszek Pioneer Corp (Pre-Deal)
-.64% ~ $ 10.04 | PLAO – Patria Acquisition Corp. (Pre-Deal)
-.61% ~ $ 9.73 | LITT – Logistics Innovation Technologies Corp. (Pre-Deal)
-.50% ~ $ 10.02 | GOGN – GoGreen Investments Corp (Pre-Deal)
-.41% ~ $ 9.75 | NDAC – NightDragon Acquisition Corp (Pre-Deal)
-.41% ~ $ 9.78 | MTAL – Metals Acquisition Corp (Pre-Deal)
-.40% ~ $ 9.85 | MSSA – Metal Sky Acquisition Corp (Pre-Deal)
-.40% ~ $ 9.92 | NPAB – New Providence Acquisition Corp. II (Pre-Deal)
-.40% ~ $ 9.94 | VMGA – VMG Consumer Acquisition Corp. (Pre-Deal)
-.40% ~ $ 9.95 | AOGO – Arogo Capital Acquisition Corp. (Announced)
-.40% ~ $ 9.99 | LJAQ – LIGHTJUMP ACQUISITION CORPORATION (Announced)
-.40% ~ $ 10.01 | INKA – KludeIn I Acquisition Corp (Announced)
-.32% ~ $ 9.66 | CPAA – Conyers Park III Acquisition Corp. (Pre-Deal)
-.31% ~ $ 9.66 | HWEL – Healthwell Acquisition Corp. I (Pre-Deal)
-.31% ~ $ 9.77 | NGC – Northern Genesis Acquisition Corp. III (Pre-Deal)
-.31% ~ $ 9.80 | BOAS – BOA Acquisition Corp. (Announced)
-.30% ~ $ 9.83 | EDNC – Endurance Acquisition Corp. (Announced)