The Daily Dish (09/23/21)
Elizabeth Warren Calls out Several SPAC Executives
After fighting to get the federal eviction moratorium reinstated and going after stock buybacks, Elizabeth Warren is back at it again and is now going after SPAC Dealmakers.
Senator Elizabeth Warren and three other Democratic lawmakers have sent an open letter to executives behind high-profile SPACs raising concerns about the potential regulatory loopholes being exploited at the expense of everyday investors.
Democrats stated that the executives should disclose more information to understand if Congressional regulatory action is necessary to protect investors and have requested for the information to be provided by October 8th.
The letter was sent to Howard Lutnick, the CEO of Cantor Fitzgerald, Tilman Fertitta, the CEO of Fertitta Entertainment, and Chamath Palihapitiya, CEO of Social Capital Partnership, among others. Other senators who signed the letter include Sherrod Brown, Tina Smith, and Chris Van Hollen.
SAB Biotherapeutics Receives $60 Million in Funding from US Officials Ahead of SPAC Merger
SAB has snapped up an additional $60.5 million in funding from the U.S. Department of Defence to fund an antibody program to treat Covid-19, bringing the total funding received to date to $200 million.
SAB is developing the polyclonal antibody treatment SAB-185 for patients with a mild/moderate case of Covid-19 who are at risk of disease progression.
The therapy is in phase 2/3 clinical testing and has wrapped up enrolment for the mid-stage portion. SAB is currently completing its SPAC merger with Big Cypress Acquisition Corp in a deal that’s worth $118 million.
To learn more about SAB, check out the interview we conducted with CEO Dr. Eddie Sullivan.
Reddit Reads
AMHC Sees over 90% Redemption with 43% Short Interest
SPAC Amplitude Healthcare Acquisition Corporation is set to merge with Jasper Therapeutics. After 92% redemption from current investors, the float stands at 737,901 shares, with 43% short interest, making it a prime candidate for a short squeeze.
(RTPY) Aurora Launching Autonomous Delivery Pilot with PACCAR and Fedex
Aurora is teaming up with FedEx and PACCAR to deliver goods at scale. The industry-first collaboration will combine expertise in trucking, logistics, and autonomy to improve the safety and efficiency of the movement of goods.
Gogoro Plans to Complete SPAC Listing by Q1 2022
Last week, Electric scooter and technology company Gogoro announced plans to go public through a SPAC merger with Poema Global at a deal valuing the company at $2.35 billion.
Now, Gogoro has announced that it will aim to list on Nasdaq by the first quarter of 2022. Gogoro expects to raise $550 million in gross proceeds from the deal, provided PIPE investors don’t cash out.
