Mountain Lake Acquisition Corp. Class A Ordinary Shares (MLAC)
Mountain Lake Acquisition Corp. Class A Ordinary Shares (MLAC) is a special purpose acquisition company (SPAC) established to identify and acquire one or more promising private companies. SPACs like MLAC are listed on public markets and serve as vehicles to facilitate mergers, acquisitions, or other business combinations, providing a pathway for private companies to access public capital markets.
Company News
New York, NY, June 13, 2023 (GLOBE NEWSWIRE) -- Malacca Straits Acquisition Company Limited (“Malacca”) (Nasdaq: MLAC) announced, announced today that (i) Malacca, Indiev, Inc and certain other parties have mutually agreed to terminate their previously announced Agreement and Plan of Merger (the “Merger Agreement”), effective as of June 8, 2023 and (ii) it intends to liquidate as soon as practicable on June 16, 2023 and to return funds to holders of its Class A ordinary shares.
Digital World Acquisition Corp (NASDAQ: DWAC) shares plunged 20.1% on Wednesday morning after Republican candidates endorsed by President Donald Trump performed poorly in Tuesday's midterm elections. Digital World shares are now down 56.8% overall year-to-date, and short sellers are betting aggressively on more downside ahead. The Numbers: As a whole, SPACs currently have $506 million in total short interest. S3 Partners analyst Ihor Dusaniwsky said Tuesday that SPAC short interest has increased by $10 million in the past 30 days, led by a surge in short interest for Freedom Acquisition I Corp (NYSE: FACT). Related Link: Occidental Petroleum Is The Most Shorted Stock In The Energy Sector: How Do Exxon Mobil And Chevron Compare? "SPAC short covering was also muted over the past thirty days, with no SPACs with more than $5 million of buy-to-covers," ...Full story available on Benzinga.com