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Aug 24 (Reuters) - Shares in online mortgage lender Better's (BETR.O) new public listing plummeted on Thursday as investors fretted over record-high mortgage rates. In the interim, roughly 95% of Aurora shareholders redeemed their holdings, leaving the trust account with just about $24 million at the end of June from about $283 million. Aurora went public in March 2021. Better is going public as U.S. mortgage rates continue to surge, with the popular 30-year fixed rate last week hitting the highest level since December 2000, helping drive mortgage applications to a 28-year low, the Mortgage Bankers Association said on Wednesday. Reporting by Hannah Lang and Lance Tupper in Washington; Editing by Mark Porter and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Aurora, Vishal Garg, Hannah Lang, Lance Tupper, Mark Porter, Jonathan Oatis Organizations: Nasdaq, Aurora Acquisition Corp, U.S . Securities, Exchange Commission, Aurora, refinancings, Mortgage Bankers Association, Thomson Locations: SoftBank, Washington

The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. U.S. home builder confidence weakened in August, as mortgage rates and stubbornly high housing prices discouraged prospective buyers. Better enjoyed huge growth during the onset of the COVID-19 pandemic when mortgage rates cratered, notching more than $850 million in revenue in 2020, filings show. When interest rates fall, Better expects huge demand for cash-out refinancings, which it says it will be able to deliver in one day. Earlier this year, Better.com launched a one-day mortgage product, allowing customers to get pre-approved, lock in a rate and get a mortgage commitment letter within 24 hours.

Persons: Vishal Garg, Garg, Better.com, Hannah Lang, Michelle Price, Mark Potter Organizations: Nasdaq, REUTERS, Federal, refinancings, Aurora Acquisition Corp, U.S . Securities, Exchange Commission, SEC, Better, Zoom, Thomson Locations: New York City, U.S, SoftBank, Aurora, Washington

☆ Shell Company Seeks to Extend Deadline for Merger With Trump Media
▼ + stars: | 2023-08-17 | by ( Matthew Goldstein | More About Matthew Goldstein | ) www.nytimes.com time to read: +1 min

The shell company seeking to merge with former President Donald J. Trump’s social media company announced late Wednesday that it had postponed a crucial meeting of shareholders scheduled for Thursday, at which it hoped to announce that investors had agreed to give it more time to complete its long-delayed deal. The company is now giving shareholders until Sept. 5 to approve the measure to give it more time to complete the deal with Trump Media & Technology Group. That is just three days before the shell company, Digital World Acquisition Corp., would be forced to begin to liquidate and return the $300 million it raised from investors in a September 2021 initial public offering. Digital World was set up as a special purpose acquisition vehicle, or SPAC, which raises money by going public to finance a future merger — in this case, Trump Media. The merger was announced on Oct. 21, 2021, and Digital World now is trying to get 65 percent of its roughly 400,000 shareholders to approve the extension for the deal.

Persons: Donald J Organizations: Trump Media & Technology, Trump Media, Securities and Exchange Commission

☆ Wynn Resorts pulls the plug on WynnBET in certain US markets
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

Company logos are displayed at Wynn Macau resort in Macau, China February 8, 2018. The company said it was ceasing operations in Arizona, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia, and West Virginia. The decision to pull out of West Virginia comes a couple of months after it launched WynnBet in the state. WynnBET is part of the company's majority-owned subsidiary, Wynn Interactive, which was expected to merge with Austerlitz Acquisition Corp I. On Wednesday, Wynn Resorts posted second-quarter results above Wall Street estimates, as its Las Vegas and Macau properties saw growth in gaming, dining and hotel bookings.

Persons: Bobby Yip, Wynn, Julie Cameron, Doe, Ananya Mariam Rajesh, Pooja Desai, Anil D'Silva Organizations: Wynn, REUTERS, Wynn Resorts, Wynn Interactive, Wall, Thomson Locations: Wynn Macau, Macau, China, Arizona , Colorado , Indiana , Louisiana , New Jersey , Tennessee, Virginia, West Virginia, Nevada, Massachusetts, New York, Michigan, Vegas, Bengaluru

☆ FC Barcelona unit to list in US via $1 bln SPAC deal
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

A silhouette of a woman walks past behind a FC Barcelona's logo at Camp Nou stadium in Barcelona, Spain, March 24, 2016. REUTERS/Albert Gea/File PhotoAug 11 (Reuters) - Spanish soccer club FC Barcelona has agreed to list its content creation unit Barca Media on Nasdaq through a merger with a special purpose acquisition company, valuing the combined entity at $1 billion. The club said on Friday the deal will fetch new capital for Barca Media, a segment that FC Barcelona expects will be "an important source of revenue in the coming years". Barca Media will start trading on Nasdaq after the deal with Mountain & Co I Acquisition Corp (MCAA.O) closes in the last quarter of this year, FC Barcelona said. A special-purpose acquisition company (SPAC), also known as a blank-check company, is a listed entity that merges with a private firm to take it public.

Persons: Albert Gea, Joan Laporta, Lionel Messi, Laporta, Niket Nishant, Pritam Biswas, Krishna Chandra Organizations: FC, Camp Nou, REUTERS, FC Barcelona, Media, Nasdaq, Barca Media, FC Barcelona's, Mountain, Thomson Locations: Barcelona, Spain, Spanish, Bengaluru

Immersed will merge with Maquia Capital Acquisition Corp (MAQC.O), a special purpose acquisition company (SPAC), in a deal that values the Austin, Texas-based firm at about $150 million, the sources said. As part of the deal, Immersed is raising bridge financing through convertible notes from investors including Intel Corp (INTC.O) Chief Executive Pat Gelsinger, former football player Tim Tebow, and All Blue Capital. Immersed expects to have access to the proceeds raised by the SPAC, barring redemptions, the sources said. Founded in 2017 by software engineer Renji Bijoy, Immersed develops spatial computing software that enables remote working for employees. After the deal closes, Immersed will be listed on the Nasdaq under the ticker "AIMR", the sources said.

Persons: Pat Gelsinger, Tim Tebow, Renji Bijoy, Milana Vinn, Robert Birsel Organizations: Maquia, Corp, Intel Corp, Blue Capital, redemptions, Nasdaq, Thomson Locations: Austin , Texas, New York

☆ Trump Media merger partner DWAC soars 50% after SEC fraud settlement
▼ + stars: | 2023-07-21 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

The social media app will be developed by Trump Media and Technology Group (TMTG). DWAC is a special purpose acquisition company, or SPAC, that announced plans to merge with Truth Social parent company Trump Media & Technology Group in October 2021. DWAC's SEC settlement dictates that the company must pay an $18 million civil penalty fee if it merges with TMTG and takes the company public. But if the merger does not occur before the Jan. 1, 2025, deadline, and if DWAC returns investors' money, the SEC has agreed to waive the penalty. It is illegal for SPACS to solicit specific merger targets ahead of an actual initial public offering filing.

Persons: Donald Trump's, DWAC, Trump Organizations: Trump Media, Technology, Securities and Exchange Commission, Social, Trump Media & Technology Group, SEC, SPACS, Florida, White House, Republican Locations: DWAC, New York, Georgia

☆ SPAC Tied to Trump’s Media Company Will Pay $18 Million to Regulators
▼ + stars: | 2023-07-20 | by ( Matthew Goldstein | More About Matthew Goldstein | ) www.nytimes.com time to read: +1 min

The Securities and Exchange Commission said on Thursday that it had reached a settlement with the cash-rich shell company that planned to merge with former President Donald J. Trump’s social media company, potentially paving the way for the much-delayed deal to proceed. Under the settlement, Digital World Acquisition Corp. will pay a penalty of $18 million and revise some of its corporate filings to comply with federal securities laws. was investigating whether Digital World had flouted merger laws governing special purpose acquisition companies. charged Digital World, a special purpose acquisition company, with misleading investors with its disclosures. “These disclosure failures are particularly problematic because investors focus on factors such as the SPAC’s management team and potential merger targets when making financial decisions,” said Gurbir S. Grewal, director of the S.E.C.’s division of enforcement.

Persons: Donald J, ”, Gurbir, Grewal Organizations: Securities, Exchange

☆ Trump Media merger partner DWAC settles with SEC over fraud charges
▼ + stars: | 2023-07-20 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +2 min

Former U.S. President and Republican presidential candidate Donald Trump speaks at a campaign event in Council Bluffs, Iowa, July 7, 2023. WASHINGTON — The Securities and Exchange Commission announced Thursday that it had settled fraud charges with Digital World Acquisition Corp ., the company that is seeking to take former President Donald Trump's social media venture public. As part of the settlement, DWAC was ordered to pay an $18 million civil penalty fee in the event that it executes a final merger and takes Trump Media and Technology Group public. Shares of DWAC rose 30% in extended trading following the SEC announcement. The fraud charges stem in part from what the SEC says were DWAC's "extensive SPAC merger discussions" with Trump's media company several months before filing paperwork to go public in Sept. 2021.

Persons: Donald Trump, Donald Trump's, DWAC, Patrick Orlando, Trump Organizations: U.S, Republican, WASHINGTON — The Securities, Exchange Commission, Trump Media, Technology Group, SEC, White House Locations: Bluffs , Iowa, Florida, DWAC, New York, Georgia

The merger, which would take Trump Media public, has yet to occur. The proposed Digital World-Trump Media merger remains uncertain. If it closes, Trump Media would gain access to more than $1 billion in cash from Digital World's institutional investors, such as hedge funds. According to a Feb. 2, 2021 services agreement, Trump controls 90% of Trump Media. Digital World shareholders are set to vote in August on whether to extend the deadline to September 2024.

Persons: Michael Shvartsman, Amr Alfiky, Donald Trump's, Michael, Gerald Shvartsman, Bruce Garelick, District Judge Lewis Liman, Trump, Garelick, Shvartsman, Jody Godoy, Jonathan Stempel, Richard Chang Organizations: Manhattan Federal Court, REUTERS, U.S, Trump Media & Technology Group, Trump Media, District, Rocket, Digital, Authorities, U.S . Securities, Exchange Commission, Trump, Court, Southern District of, SEC, Thomson Locations: Manhattan, New York City, U.S, Florida, New York, Miami, Southern District, Southern District of New York

☆ SPAC seeking to merge with Trump's media company settles with the SEC
▼ + stars: | 2023-07-20 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —The Securities and Exchange Commission announced Thursday that it settled with the blank-check company seeking to merge with former President Donald Trump’s media company. Nearly two years ago, TMTG announced that it would merge with Digital World, which is a special purpose acquisition company, or SPAC. A SPAC, also known as a blank-check company, is a shell company that debuts on the public market with the stated intent to acquire an existing private company. The SEC said it also found that Digital World failed to disclose that its CEO had a potential conflict of interest with TMTG based on a previous agreement he signed with the company. Last month, federal prosecutors arrested three investors on insider trading charges related to Digital World’s deal with Trump’s media company.

Persons: Donald Trump’s, TMTG, DWAC, “, ”, Gurbir, Grewal Organizations: CNN, Securities, Exchange Commission, SEC, Acquisition, Trump Media & Technology Locations: SEC’s

☆ Exclusive: Head of engineering for Trump’s Truth Social app resigns
▼ + stars: | 2023-07-17 | by ( Helen Coster | ) www.reuters.com time to read: +2 min

NEW YORK, July 17 (Reuters) - The head of engineering for the company that operates former U.S. President Donald Trump’s Truth Social app told Reuters on Monday he had resigned, in a blow for the venture. Gleason is the founder of Soapbox Technology, which provides open-source technology for “decentralized” social media platforms that operate on independently-run servers and provide an alternative to Twitter and Facebook. TMTG hired Gleason in January 2022 to adapt Soapbox’s technology for its own needs, eventually using it as the front-end technology - which users see and interact with - for the Truth Social app. Truth Social has struggled to show strong growth in the number of users since its February 2022 launch. Truth Social has an estimated 607,000 monthly users, according to data from Similarweb.

Persons: Donald Trump’s, Alex Gleason’s, Gleason, TMTG, Trump, DWAC, Helen Coster, Deepa Babington Organizations: YORK, Trump Media & Technology, Trump, U.S, Capitol, Twitter, Facebook, Social, Similarweb, Justice Department, Securities and Exchange Commission, Thomson

☆ Tucker Carlson's show on Twitter makes ad deal with anti-ESG shopping app
▼ + stars: | 2023-07-16 | by ( Brian Schwartz | ) www.cnbc.com time to read: +5 min

Former Fox News host Tucker Carlson's new Twitter show has landed one of its first advertisers. Carlson agreed to a seven-figure advertising deal with Public Square (PublicSq. Carlson's show appears to match well with the conservative leanings of Public Square. The Public Square ads are expected to start appearing on Carlson's show in late August. A February press release for the merger said the deal "is expected to provide up to $158.5 million in cash" to Public Square.

Persons: Tucker Carlson's, Carlson, Carlson's, Andrew Tate, Tate, Tucker, Michael Seifert, Seifert, Omeed Malik, Malik, Nick Ayers, Mike Pence, Peter Thiel, Blake Masters, Ayers, Thiel, Neil Patel, Patel, Ron DeSantis, Robert F, Kennedy Jr, Kennedy, Joe Biden, Biden Organizations: Fox News, Public, Fox, Systems, Twitter, Republican, Diversity Equity, Breitbart News, New York Stock Exchange, Colombier, Daily Mail, Wall Street, Arizona Senate GOP, Street Journal, Republican Florida Gov, Democratic, Quinnipiac Locations: Arizona

☆ Trump-tied SPAC reaches agreement with SEC staff over merger
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +1 min

July 3 (Reuters) - A blank-check firm, which was set to merge with former U.S. President Donald Trump's media company and under regulatory investigation, has reached an agreement with the staff of the Securities and Exchange Commission, a filing showed on Monday. The special purpose acquisition company (SPAC), Digital World Acquisition Corp (DWAC.O), said in the filing that the agreement was in principle and not yet definitive, and the terms were subject to the SEC's approval. In October 2021, Trump's newly formed media company, Trump Media & Technology Group (TMTG), announced a deal to go public by merging with DWAC. But the SPAC deal was in doubt after the Justice Department and the SEC said they were investigating it. If the SEC approves the settlement, it will enter a cease-and-desist order finding DWAC violated certain antifraud provisions in connection with the proposed merger.

Persons: Donald Trump's, DWAC, Arshreet Singh, Shweta Agarwal Organizations: U.S, Securities and Exchange Commission, Trump Media & Technology, Justice Department, SEC, Thomson

☆ Arrival, Nikola signal more pain for EV startups
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

July 3 (Reuters) - Arrival SA will terminate plans to merge with a blank-check firm and Nikola Corp will offload its newly acquired battery unit, the companies said on Monday, amplifying concerns over the struggles electric vehicle (EV) startups face in building scale. Meanwhile, Nikola Corp (NKLA.O) will liquidate the assets of Romeo Power, an EV battery maker it acquired less than a year ago, to energize the business. In contrast, electric vehicle behemoth Tesla (TSLA.O) and California-based Rivian Automotive (RIVN.O) beat market estimates for second-quarter deliveries. Arrival had in April bet that the second reverse merger would release $283 million of cash held in trust before redemptions. The EV startup in May reported a 37% slump in cash and cash equivalent at the end of the first three months of the year, from the preceding quarter.

Persons: Nikola Corp, Romeo Power, Tesla, Van, Akash Sriram, Sriraj Organizations: Nikola Corp, Kensington Capital, Corp, Romeo, EV, CIIG Merger Corp, United Parcel Service, Thomson Locations: British, Kensington, California, Charlotte , North Carolina, Bengaluru

☆ SPAC seeking merger with Trump’s media company agrees to settlement with SEC
▼ + stars: | 2023-07-03 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

The terms are not yet definitive, according to an SEC filing, and the final agreement is subject to approval by the commission. If it’s approved, the SEC will enter a cease-and-desist order with the company, finding DWAC violated “antifraud provisions” connected to initial public offering filings. Nearly two years ago, former President Donald Trump’s media group agreed to combine with DWAC to bring the company public through what’s known as a SPAC, or a Special Purpose Acquisition Corporation. TMTG is not a party to the settlement, according to the SEC filing, and did not consent to it. “TMTG may disagree and try to terminate the Merger Agreement,” the SEC filing said.

Persons: New York CNN —, it’s, Donald Trump’s, DWAC, “ DWAC, Matt Egan, Kara Scannell Organizations: New, New York CNN, Corp, Securities and Exchange Commission, Truth Social, Trump Media & Technology Group, SEC Locations: New York

☆ Three charged with insider trading ahead of Trump Media SPAC deal
▼ + stars: | 2023-06-29 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +1 min

The former US President announced his intention to create a new social media platform after he was banned from Facebook and Twitter last year. WASHINGTON — Three Florida men were charged Thursday in criminal and civil complaints with insider trading of a shell company's stock before it announced plans to merge with a social media firm launched by former President Donald Trump. The men, Michael Shvartsman, Gerald Shvartsman, and Bruce Garelick, allegedly netted more than $22 million in illicit profits from trading in shares of Digital World Acquisition Corp . The DOJ announced the charges related to the Trump Media proposed merger as part of a string of allegations of illegal trading. is a special purpose acquisition company, or SPAC, that announced plans to merge with Trump Media & Technology Group in October 2021.

Persons: Donald Trump, Michael Shvartsman, Gerald Shvartsman, Bruce Garelick, Garelick, Trump, TMTG Organizations: Facebook, Twitter, WASHINGTON —, Justice Department, The Securities, Exchange Commission, Rocket, DOJ, Trump Media, Pfizer, Trump Media & Technology Group Locations: WASHINGTON — Three Florida

New York CNN —Federal prosecutors arrested three investors on Thursday on insider trading charges related to a deal to take former President Donald Trump’s media business public. The value of the securities they purchased went up sharply once the Trump deal was announced, prosecutors say. After signing non-disclosure agreements, prosecutors say they were provided confidential information that Trump Media was a potential target of the SPACs. Prosecutors say Garelick provided to his co-conspirators what he described as “intelligence” about the Trump merger negotiations and the timing of a public merger announcement. Digital World shares skyrocketed following the Trump Media merger news as investors saw it as a way to bet on the fortunes of the former president.

Persons: Donald Trump’s, Trump, Michael Shvartsman, Gerald Shvartsman, Bruce Garelick, Donald Trump, hadn’t, Garelick Organizations: New, New York CNN, Corporation, Truth Social, Trump Media & Technology Group, Digital, The Securities, Exchange Commission, Nasdaq, Trump Media, Prosecutors, Trump Locations: New York, Miami

☆ Grindr went public 7 months ago. Here's what's happened since then
▼ + stars: | 2023-06-23 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

Since its Nov. 18 debut, Grindr has begun courting investors and making the necessary adjustments to be a public company, all the while making innovative plans for the future of the product. Seven months in the public marketIn the seven months since Grindr representatives rang the opening bell, CEO George Arison has shifted his focus to matters relevant to a public company, such as hiring specialists versus generalists and raising liquidity. Slightly more than 6% of shares are available for public investors to buy and sell, according to FactSet. Big names such as Vanguard, BlackRock and Charles Schwab also have small holdings, with each accounting for less than 0.2% of total shares. Grindr also recently launched a web offering, which may offer more features at an additional cost in the future.

Persons: Grindr, It's, Bud, George Arison, Arison, unapologetically, Bumble, Morgan Stanley, he's, Charles Schwab, Raymond Zage, Tiga, James Fu Bin Lu, Spencer Platt Organizations: NYSE, Tiga, Disney, Bud Light, Anheuser, Busch Inbev, JPMorgan, Wall Street, Group, West Capital Management, Prescott Investors, Vanguard, BlackRock, New York Stock Exchange, Tiga Acquisition Corp, Getty Locations: Boston, New York City

☆ Factbox-The main legal troubles facing Donald Trump
▼ + stars: | 2023-06-13 | by ( Reuters Staff | ) www.reuters.com time to read: +5 min

(Reuters) - Here is a list of additional legal troubles facing Donald Trump in addition to federal charges he retained classified government documents and obstructed justice. Trump had sought to prevent top aides, including his then-Vice President Mike Pence, from testifying in that probe being weighed by a separate D.C. grand jury. Pence appeared before the grand jury in April after Trump lost his legal challenge. Trump repeatedly lambasted Pence before the attack for refusing to try to prevent Congress from certifying Democrat Joe Biden’s win in the 2020 presidential election. Legal experts said Trump may have violated at least three Georgia criminal election laws: conspiracy to commit election fraud, criminal solicitation to commit election fraud and intentional interference with performance of election duties.

Persons: Donald Trump, Jonathan Drake, General Merrick Garland, Jack Smith, Trump, Trump’s, Mike Pence, Pence, Joe Biden’s, Fani Willis, Brad Raffensperger, Michael Cohen, Daniels, Cohen, reimbursing Cohen, Jean Carroll, Carroll, Letitia James, James Organizations: Reuters, U.S, Republican, North Carolina Republican Party, REUTERS, CAPITOL, Capitol, Justice Department, Trump, Democrat, Republican Georgia, U.S . Constitution, Trump’s, Prosecutors, CNN, GENERAL, New York, Trump Organization, The Securities, Exchange Commission, Financial Industry Regulatory Authority Locations: Greensboro , North Carolina, U.S, United States, GEORGIA, Fulton County, Georgia, U.S ., New York, Manhattan

☆ Glencore, automakers to back $1 bln nickel, copper SPAC deal in Brazil
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +3 min

[1/2] The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, September 30, 2015. Glencore will invest $100 million in ACG equity. Stellantis and mining investment fund La Mancha Resource Capital will each provide an equity investment of the same amount, while PowerCo will make a $100 million nickel prepayment. During the process, ACG will become ACG Electric Metals and issue new shares, making Glencore, Stellantis and La Mancha owners of 51% and leaving 49% for free float, Artem Volynets, ACG chief executive, told Reuters. The deal "will establish ACG Electric Metals as a premier supplier of critical metals into the western EV value chain," Volynets said.

Persons: Arnd, ACG, Mick Davis, PowerCo, Artem Volynets, Appian, Sibanye, Volynets, En, Rusal, Polina Devitt, Clara Denina, Kirsten Donovan, Jason Neely Organizations: REUTERS, Chrysler, Company, Santa, Appian, Chartered, Citigroup, Blue Resources, Metals Acquisition Corp, Glencore, La, La Mancha Resource, Metals, Reuters, South Africa's, Hong, Thomson Locations: Baar, Switzerland, Brazil, London, New York, Western Europe, North America, La Mancha, Stillwater, Santa Rita, Hong Kong

Trump had sought to prevent top aides, including his then-Vice President Mike Pence, from testifying in that probe being weighed by a separate D.C. grand jury. Pence appeared before the grand jury in April after Trump lost his legal challenge. Trump repeatedly lambasted Pence before the attack for refusing to try to prevent Congress from certifying Democrat Joe Biden’s win in the 2020 presidential election. Legal experts said Trump may have violated at least three Georgia criminal election laws: conspiracy to commit election fraud, criminal solicitation to commit election fraud and intentional interference with performance of election duties. NEW YORK ATTORNEY GENERAL CIVIL LAWSUITNew York Attorney General Letitia James sued Trump and his family business, the Trump Organization, last September for fraud.

Persons: Donald Trump, General Merrick Garland, Jack Smith, Trump, Trump's, Mike Pence, Pence, Joe Biden’s, Fani Willis, Brad Raffensperger, Michael Cohen, Daniels, Cohen, reimbursing Cohen, Jean Carroll, Carroll, Letitia James, James, Joseph Ax, Luc Cohen, Karen Freifeld, Sarah N, Lynch, Jonathan Stempel, Jacqueline Thomsen, Susan Heavey, Noeleen Walder, Howard Goller Organizations: U.S . Department of Justice, CAPITOL, U.S, Capitol, Justice Department, Trump, Democrat, Republican Georgia, U.S . Constitution, Trump's, Prosecutors, CNN, GENERAL, New York, Trump Organization, The Securities, Exchange Commission, Financial Industry Regulatory Authority, Thomson Locations: United States, GEORGIA, Fulton County, Georgia, U.S ., New York, Manhattan

NEW YORK, June 8 (Reuters) - Cryptocurrency operator Circle Internet Financial said on Thursday it has hired Heath Tarbert, former chair of the Commodity Futures Trading Commission, as the its chief legal officer and head of corporate affairs, effective July 1. Tarbert, a former corporate attorney and senior Treasury Department official, more recently worked for electronic trading firm Citadel Securities. Boston-based Circle, the issuer of stablecoin USDC, in December decided to end a $9 billion deal to merge with blank-check firm Concord Acquisition Corp . "As we continue building a bridge between traditional finance and Web3, Heath's perspective, legal acumen and global regulatory experience will help us advance the utility value of USDC worldwide," Jeremy Allaire, chief executive officer of Circle, said in a statement. Reporting by John McCrank; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Heath Tarbert, Tarbert, Jeremy Allaire, John McCrank, Chizu Organizations: YORK, Futures Trading Commission, CFTC, Securities and Exchange Commission, Treasury Department, Citadel Securities ., Concord, Corp, Thomson Locations: U.S, Citadel Securities . Boston

☆ Arrival to convert Antara's $20 mln loan into equity (June 6)
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 6 (Reuters) - (This June 6 story has been corrected to say Arrival reduced its headcount by 50% in the first quarter, in paragraph 4)Arrival said on Tuesday it will convert shareholder hedge fund Antara Capital Master Fund LP's $20 million loan into equity, a move that would help the British electric-vehicle startup lower its debt load. Antara has a 1.69% stake in Arrival, according to Refinitiv data. After the exchange, Arrival will still have about $300 million of principal amount in convertible notes that can be converted into equity. EV firms have been experiencing a cash problem over the past few months, as high costs related to production ramp-ups and soaring inflation eat into their reserves. Reporting by Tiyashi Datta in Bengaluru; Editing by Anil D'Silva and Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Antara, Tiyashi Datta, Anil D'Silva Organizations: EV, Corp, Thomson Locations: Kensington, Bengaluru

☆ Arrival to convert Antara's $20 mln loan into equity
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

June 6 (Reuters) - Arrival said on Tuesday it will convert shareholder hedge fund Antara Capital Master Fund LP's $20 million loan into equity, a move that would help the British electric-vehicle startup lower its debt load. Antara has a 1.69% stake in Arrival, according to Refinitiv data. After the exchange, Arrival will still have about $300 million of principal amount in convertible notes that can be converted into equity. Arrival in April effected a 1-50 reverse stock split to regain compliance with Nasdaq's listing rules and said it will merge with blank-check firm Kensington Capital Acquisition Corp V (KCGI.N) to raise cash. Reporting by Tiyashi Datta in Bengaluru; Editing by Anil D'Silva and Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Antara, Tiyashi Datta, Anil D'Silva Organizations: EV, Corp, Thomson Locations: Kensington, Bengaluru

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