BENE - SPAC Benessere Capital agrees to merge with hydrogen-fuel supplier Ecombustible Energy

SPAC Benessere Capital Acquisition (NASDAQ:BENE) agreed to a deal to take hydrogen supplier eCombustible Energy public. Holders of eCombustible Energy will receive shares of common stock with a value of $805M plus an earnout of 59m additional shares, according to a statement. Miami-based eCombustible developed a hydrogen-based fuel production technology that provides on-site fuel delivery under long-term fuel supply agreements, the company said. Benessere Capital is run by CEO Patrick Orlando, who's SPAC Digital World Acquisition Corp. (NASDAQ:DWAC) soared after announcing a deal to take Trump's media company public last month. The combined company is expected to trade on the Nasdaq under the symbol "ECEC." Benessere Capital shares were earlier halted for news pending and are set to resume trading soon. Orlando's dealings with Trump have come under scrutiny in the wake of a New York Times article last month that claimed there might be potential violations of securities laws in regard

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SPAC Benessere Capital agrees to merge with hydrogen-fuel supplier Ecombustible Energy