July SPAC Merger Vote Calendar

If the merger is not completed in the next six months, Digital World will have to return the $300 million it raised from investors in 2021 through an IPO. But it is not clear that the investigations by the Securities and Exchange Commission and federal prosecutors in Manhattan will be completed in time to permit the SEC to approve the merger as required.

Listed on the Singapore Exchange (SGX) in early January 2021, the three SPACs -– Vertex Technology Acquisition, Pegasus Asia and Novo Tellus Alpha Acquisition — have not made any formal announcements.

Well, that didn't take long.

SEC Chairman Gary Gensler, who’s repeatedly raised issues with SPACs since taking over in April, gave a road map today for areas where the SEC may need to step up regulation.