SPAC

Dish Network plans to sell its Littleton office campus to an entity linked to the company’s founder, then lease it back. Conx Corp., a special purpose acquisition company, said in a March 11 filing with the U.S. Securities and Exchange Commission that it is set to pay $26.75 million to buy the 5701 S. Santa Fe Drive property from EchoStar Corp. EchoStar acquired Dish at the end of last year. The two had previously been part of the same company. The sale of the Littleton property is expected to close in the second quarter,…

Lotus Technology is closing on an approved merger with Special Purpose Acquisition Company (SPAC) L Catterton Asia Acquisition Corp, setting the stage for a debut on the Nasdaq this week under the stock ticker symbol “LOT.” It’s just over a year since we first caught wind of Lotus’ plans to go public on the US stock market via a SPAC merger – a once popular method that has since cooled down. SPAC mergers enable a publicly traded company to be created to merge with an existing company. In the case of…

Satellite-to-phone connectivity provider Lynk Global will head to the public markets via a merger with a shell company led by former professional baseball player Alex Rodriguez. The two companies confirmed the deal on Monday after announcing a non-binding LOI with Rodriguez’s special purpose acquisition company (SPAC), Slam Corp, in December. According to an investor presentation filed with regulators, the deal could give Lynk a $913.5 million post-money valuation. Much of the capital from the transaction will not…

Commercial EV startup Arrival is being removed from the Nasdaq stock exchange as it speeds toward dissolution. The company, which went public after merging with a special purpose acquisition company, announced Monday morning that the Nasdaq will suspend trading of Arrival shares January 30, followed by a formal delisting. Nasdaq is taking the action after Arrival was late in posting financial results and failed to file a remediation plan with the exchange. The delisting notice comes just two…

Custom EV conversion specialist ECD Automotive Design celebrated a huge milestone today, ringing the opening bell in New York City as it was officially listed on the NASDAQ following a successful SPAC Merger with EF Hutton. The merger gives the company specializing in classic UK vehicles plenty of runway to grow its already successful business. Today’s ceremony at the New York Stock Exchange puts a bookend on a ten-year journey for ECD Automotive that began with three British gearheads essentially…

Company Towns — wherein a single firm provides most or all necessary services, from housing and employment to commerce and amenities to a given community — have dotted America since before the Civil War. As we near the end of the first quarter of the 21st century, they're making a comeback with a new generation of ultra-wealthy elites gobbling up land and looking to build towns in their own image.And why should only terrestrial workers be exploited? Elon Musk has long talked of his plans to colonize Mars through his…

Welcome back to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B. Your usual host Kirsten Korosec is off having a glorious vacation, so I will be doing the roundup this week. As the EV revolution takes hold, one problem keeps plaguing automakers: Batteries are heavy, and heavy means less efficient. As a result, billions of dollars are being poured into research for cheaper, lighter, more efficient and safer batteries. The potential answer?…

Troubled commercial EV maker Arrival has just ended a deal to merge — for the second time in less than three years — with a special purpose acquisition company. Arrival initially went public in March 2021 via a merger with special purpose acquisition company CIIG Merger Corp. in a deal valued at $5.4 billion. Since those high-flying SPAC days of 2021, Arrival has repeatedly delayed its production launch, pivoted and changed market focus, burned through millions of dollars, and restructured the…

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Embark Trucks, the autonomous trucking company that recently cut 70% of its workforce, is being acquired by Applied Intuition, a simulation and software provider for autonomous vehicle development. The all-cash transaction has an equity value of about $71 million, according to the companies. Embark went public in 2021 via a merger with a special purpose acquisition company. Like many so-called SPACs that joined the public markets before they were mature enough, Embark struggled to develop and…