The family office of secretive billionaire Harald McPike has accused US gaming investor Jason Ader of fraudulently inducing it into backing his SPAC. This follows the collapse of the SPAC's deal to acquire a Phillipines casino.
Shares of Digital World Acquisition are holding nearly 30% above the approximately $10.40 investors will get back if the merger collapses — indicating they expect the deal to go through, instead.
There are a lot of questions surrounding these deals when a company that finished its de-SPAC process is in Chapter 11 in a period of nine to 18 months, citing liquidity issues.