After the Closing Bell: New 1/4 Warrant SPAC, LACQ, GPAQ

Tonight’s notable news below.

NEW 1/4 WARRANT SPAC: DFP HEALTHCARE ACQUISITIONS CORP. (DFPHU)

We had SPAC #14 file to IPO tonight with the $200 million DFP Healthcare Acquisitions Corp., the follow-up effort to DFB Healthcare Acquisition Corp.  It’s unclear as to why they decided to name this one DFP Healthcare and not DFB II, or even DFC, More importantly however, DFP is our fifth 1/4 warrant SPAC. Additionally, Deerfield Management will once again be the Sponsor and Deutsche Bank, Jefferies and UBS will be underwriting.

I’ll need to give the prospectus a thorough read-through, so look for a further update next week.

LEISURE ACQUISITION CORP. (LACQ)

Leisure Acquisition Corp. (LACQ), filed a preliminary proxy this evening to extend their completion deadline.  However, we still don’t know how much time they will be asking for since that is still currently left blank. However, LACQ did specifically say there will be no contribution to trust for non-redeeming shareholders at this extension vote.

So, some of the possibilities as to why they will not be contributing to trust could include that they will only be asking for a very short amount of time (1-month, maybe 2-months), or….they’re getting a PIPE as a backstop. We should know more as subsequent proxies and/or 8-Ks are filed, but for now….they’re extending.

GORDON POINTE ACQUISITION CORP. (GPAQ)

Gordon Pointe Acquisition Corp. (GPAQ), filed a definitive proxy for their shareholder vote to complete their business combination with HOF Village, for March 25th, 2020. Record date is February 18, 2020 and the redemption deadline is March 23, 2020.  GPAQ is coming into the home stretch, so only one more month to go.