SPAC-Only Version of WallStreetBets on Reddit Tries to Tame Retail Hype, Bans YOLO Memes

Once the deal closes, a significant amount of shares will be free to sell with a cost basis far below the current price.

Surf Air CEO Stan Little noted the company did not need to raise capital, saying the priority was to complete a listing rather than reach a specific valuation, because it had several commercial contracts and a previously arranged merger that were contingent on it becoming a public company.

The commission is expected to consider the adoption of new rules and amendments to enhance disclosures and provide additional investor protections in initial public offerings by SPACs and in subsequent business combination transactions between SPACs and target companies.

For Truth Social to grow, it needs investment. But that seems increasingly unlikely to come from DWAC, given the molasses-like speed at which the legal investigations are proceeding. And it's DWAC that might be in legal hot water, not Truth Social.