Today we cover $ICNC, $XPDI, $RDW and more…

Milwaukee Bucks Co-Founder Forms $250 Million Iconic Sports SPAC
Hedge Fund and Sports Team Owners are raising $250 million in a sports-focused mega-SPAC. The sponsors of Iconic Sports Acquisition include Jamie Dinan, who is part owner of the Milwaukee Bucks, and Alexander Knaster, who owns AC Pisa 1909, an Italian Second Division Soccer Team.
Joining Dinan and Knaster is Edward Eisler, who is the owner of Eisler Capital, which is a $4 billion hedge fund based out of London, and Tifosy Capital, which is a UK sports bank co-founded by Vialli, which works with Soccer teams in Europe that include Everton, Rangers FC, and Juventus.

Iconic states that the total addressable market for sports and accompanying services is estimated to be $172 billion and growing at 8% per year.
The filings also describe a market opportunity from the potential synergies to be had from creating a global sports platform.
IPOs Continue to Outpace SPACs in Q3
Traditional IPOs have re-established market leadership over SPACs and continue to raise more money in Q3.
Another concerning trend for SPACs is that the market is pivoting from risk towards value, and is thus posing a challenge for SPACs looking at suitable target companies. The consensus from SPAC experts suggests that a high percentage of the current listed SPACs will fail.

Experts like Betsy Cohen and Josh Ritter believe that man SPACS will liquidate after failing to secure a deal that is acceptable to shareholders within two years. While SPACs and IPOs are battling to reign supreme, Direct Listings is cropping up to be a genuine alternative, especially for technology companies.
Six companies have gone public through a direct listing this year and they include Amplitude, Warby Parker, ZipRecruiter, Squarespace, Coinbase, and Roblox.
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RDW Lead Program Manager Indicates that Amazon Partnership is Coming
Redwire, which recently went public through a $600 million SPAC merger may announce a partnership with Amazon soon. The speculated partnership is one with Amazon’s Kuiper broadband satellite internet project, which will be competing with Starling. The partnership was hinted at by the Lead Program Manager of Redwire on 30th September.
PSNY Now Offers 2 Years of Free Charging in the US
Polestar is now offering 2 years of free charging in the US in partnership with Electrify America making their product offering even more attractive.
REE 6-K Foiling Indicates Agreement with Undisclosed Global Logistics Company
REE Automotive has indicated an agreement with a global logistics company which may be DHL.
Core Scientific Plans to Build 300MW Blockchain Data Center
Blockchain hosting and digital asset mining company Core Scientific is planning to build a 300-megawatt blockchain data center in Texas.
Core Scientific is bolding the data center through emission-free power which is supplemented by renewable energy credits. The new data center will increase the company’s total power capacity to 800MW, with the energy remaining 100% net carbon neutral.

The expansion is being developed through a collaboration with Tenaska Energy, which will provide development and power management services for the facility and serve as the energy advisor.
Core Scientific announced plans to go public through a SPAC merger with Power & Digital Infrastructure Acquisition in a deal that values the combined company at $4.3 billion.