All posts tagged: SPAC

May Mobility is going public in a .4B SPAC deal

May Mobility is going public in a $1.4B SPAC deal

Published by skeptic

Autonomous vehicle company May Mobility is merging with a special purpose acquisition company (SPAC) and will become a publicly traded company. It’s a deal that could raise more than $300 million for May Mobility at a valuation of $1.4 billion, the company said Wednesday. Once the merger is complete, May Mobility said it will be the first public company in the U.S. that is focused entirely on autonomous ride-hailing vehicles. This is meant to differentiate it from a number of other public companies working on autonomy, including Tesla, Rivian, Alphabet (with Waymo), and trucking-focused Aurora and Kodiak. The move sets up May Mobility to be a test of the stock market’s appetite for pure-play robotaxi ventures. It will also be a test of May Mobility’s approach to autonomy, which it pitches as “asset-light” and “partnership-first.” Instead of owning and operating the robotaxis, May Mobility’s business revolves around selling its autonomous vehicles to its fleet partners over time while maintaining control of any remote supervision and software updates. In exchange, May Mobility receives either fixed fees …

Why everyone from OpenAI to SpaceX is building their own chips (and turning up the heat on Nvidia)

Why everyone from OpenAI to SpaceX is building their own chips (and turning up the heat on Nvidia)

Published by skeptic

Nvidia has dominated the AI chip market for years, but the era of total dependence might be ending.   OpenAI just shared its plans to spice things up with Jalapeño, its custom inference chip built with Broadcom, joining Google, Apple, and SpaceX in a growing list of companies building their way out of single-supplier risk. The goal is less of a clean break and more of a hedge. Custom silicon means more control, hardware tuned to specific needs, and the kind of performance gains Apple unlocked when it ditched Intel.  On this episode of TechCrunch’s Equity podcast, hosts Kirsten Korosec, Anthony Ha, and Sean O’Kane dig into what the custom chip trend means for the industry and a few deals of the week worth watching.  Subscribe to Equity on YouTube, Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod.  Source link

“Closing The Nuclear Fuel Cycle” – Newcleo’s 0M War Chest And Oklo Partnership Fuel .4B SPAC Debut

“Closing The Nuclear Fuel Cycle” – Newcleo’s $780M War Chest And Oklo Partnership Fuel $2.4B SPAC Debut

Published by Jenni Sidey

It’s open season in the nuclear industry for going public, and this week’s episode features newcleo, a European lead-cooled reactor developer.  The Paris-based developer of lead-cooled fast reactors (LFRs) and closed-cycle MOX fuel announced it will merge with NewHold Investment Corp III (ticker NHIC) in a deal valuing the company at roughly $2.4 billion.  A $220 million oversubscribed PIPE at $10 per share plus up to $209 million from the SPAC trust should deliver as much as $429 million in gross proceeds before redemptions and fees. The combined entity expects to list on Nasdaq under ticker NWCL in the second half of 2026. Hopefully their transition to public markets doesn’t follow the same path as microreactor developer Hadron Energy… Founded by Stefano Buono (the man who took Advanced Accelerator Applications public on Nasdaq in 2015 and sold it to Novartis for $3.9 billion in 2018), Newcleo has already raised approximately $780 million privately across Europe. It generated roughly $80 million in revenue last year from its vertically integrated supply-chain subsidiaries while building a 900-plus employee …

Einride bets .35B that their SPAC will be different

Einride bets $1.35B that their SPAC will be different

Published by skeptic

Swedish electric and autonomous trucking group Einride has made progress on its plan to take the company’s stock public through a $1.35 billion SPAC deal with Legato Merger Corp. III following a $113 million oversubscribed capital raise. Einride announced this week that it had secured $113 million in oversubscribed financing to support its proposed merger with Legato Merger Corp. III, a special purpose acquisition company (SPAC). Once completed, the move would take the Swedish autonomous freight firm’s stock public at $1.35 billion valuation. A SPAC deal is a transaction in which a Special Purpose Acquisition Company (SPAC), which is effectively a publicly-traded shell corporation that’s formed solely to raise capital, merges with an operating company to bring it into a public trading market. It’s a process that was popular in the heady, “draw a truck, make a billion dollars” era that saw recently pardoned criminal and alleged sex offender Trevor Milton launch the now-defunct hydrogen truck brand Nikola, and one that offers a faster and sometimes more flexible (read: less regulated) alternative to a traditional Initial Public Offering (IPO). Sharp-eyed readers …