Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Colombier Acquisition Corp. nears deal with PublicSq., ViaPath discusses merger with TriStar SPAC, and Li-Cycle gets $375M loan from Dept. of Energy
Omeed Malik’s SPAC Nears Deal With ‘Patriotic’ Marketplace PublicSq.
Omeed Malik’s Colombier Acquisition Corp. (NYSE:CLBR), a blank-check firm, has reportedly agreed to merge with PSQ Holdings Inc., a marketplace that connects who it describes as “freedom-loving” Americans, according to people with knowledge of the matter.
The combined entity is set to be valued at more than $200 million, said the people, who requested anonymity discussing confidential information. A transaction may be announced as soon as Monday.READ
Prison Phone Firm ViaPath Discusses Merging With TriStar SPAC
ViaPath Technologies, which provides telecommunications and other services to the incarcerated population across the US, is in talks to go public through a merger with Tristar Acquisition I Corp. (NYSE:TRIS), people with knowledge of the matter said.
A transaction could value the company at more than $1.5 billion, according to the people, who requested anonymity to discuss confidential information. No deal has been reached and it’s possible talks could collapse.READ
Toronto-based Li-Cycle gets conditional commitment for $375M U.S. Dept. of Energy Loan
The U.S. Department of Energy has agreed to provide Li-Cycle Holdings Corp.(NYSE:LICY) with a US$375-million loan to help it complete North America’s first major recycled battery-grade lithium project, the company said on Monday.
Toronto-based Li-Cycle aims to start commissioning its US$485-million Rochester Hub in western New York late this year. The project includes a refinery that will use a hydrometallurgical system to process up to 35,000 tonnes of black mass – e-waste from crushed and shredded battery cells – per year. That is equivalent to about 90,000 tonnes of lithium-ion battery material, or 18 gigawatt-hours of lithium-ion batteries. The 26-hectare site will also include a warehouse and other facilities.READ
Oil-and-Gas Producer Hammerhead Energy Soars After SPAC Merger
Shares of Canadian oil-and-gas producer Hammerhead Energy (NASDAQ:HHRS) surged Monday, adding to their gains since the company closed a SPAC merger late last week.
The stock has more than tripled since the deal’s closing, as investor speculation has driven huge stock-price moves for companies that have done blank-check mergers recently. Many of the stocks that initially surged after closing deals have since plummeted.READ