UK Startup Britishvolt Exploring SPAC Merger: Report

The lawsuit targets the finance and sports industry veterans—including former senior executives at Goldman Sachs & Co. and the NFL — who sponsored Sports Entertainment Acquisition, the SPAC that combined with Super Group to take it public.

Vinson & Elkins is set to offer a webinar presentation and discussion of these issues on Oct. 20.

While Trump Media’s financial statements may look paltry so far, it’s difficult to use traditional metrics such as price-to-sales ratios to value the company. As Matthew Tuttle, the chief executive and chief investment officer at Tuttle Capital Management, put it: “This is a meme stock, it’s not the type of thing where you bust out P/E ratios — you can throw that out the window.”

Morgan Stanley data shows that on average, PIPE capital almost tripled the purchasing power of the SPAC.