SPAC IPO Terms Tracker: January 19, 2024
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After almost two years since it was first proposed, the SEC will be holding a meeting on Wednesday, January 24th, at 10AM, to consider changes to the current SPAC rules.
Bowen Acquisition Corp (BOWN) to Combine with Shenzhen Qianzhi BioTechnology
Bowen (NASDAQ:BOWN) has signed a merger agreement with Qianzhi BioTech for up to $86 million in share compensation.
The Shenzhen, China-based company provides plant-based remedies for various medical conditions.
The combined company is expected to trade on the Nasdaq once the deal is completed in the second or third quarter of 2024. ...READ MORE
Newcourt Acquisition Corp. (NCAC) Shareholders Approve Psyence Deal
Newcourt (NASDAQ:NCAC) announced this morning that its shareholders approved its combination with psychedelic medicine company Psyence (CSE:PSYG) during a special meeting yesterday, January 18.
Shareholders opted to redeem 929,727 shares at a redemption price of approximately $11.51 per share in connection with the vote, removing about $10.7 million from Newcourt’s trust and leaving it with 183,294 public shares outstanding and about $2.1 million in trust. ...READ MORE
Morning Roundup: January 19, 2024
At the SPAC of Dawn
Long awaited, the SEC has finally set 10 am ET Wednesday, January 24 as the kickoff of its discussion of its proposed SPAC rules.
The broad strokes of its proposals have been known for nearly two years (SPACInsider broke them down here) and some have already had effects in the market even in the absence of a concrete change. ...READ MORE
JVSPAC Acquisition Corp. (JVSA) Prices $50M IPO
JVSPAC Acquisition Corp. (NASDAQ: JVSA) announced the pricing of its $50 million IPO this morning. Its units are expected to begin trading on the Nasdaq under the symbol “JVSAU” on Friday, January 19, 2024. ...READ MORE
Battery Future Acquisition Corp. (BFAC) Sells Sponsor Economics
Battery Future Acquisition Corp. (NYSE:BFAC) announced in an 8-K filing that it has entered into a purchase agreement to transfer control of its sponsor to Camel Bay, resulting in a change in management. ...READ MORE
Direct Selling (DSAQ) to Combine with Hunch Mobility in $223M Deal
Direct Selling Acquisition Corp. (NYSE:DSAQ) has entered into a definitive agreement to combine with urban air mobility company FlyBlade India, known as Hunch Mobility, at an enterprise value of $223 million. ...READ MORE
Quadro Acquisition One Corp. (QDRO) to Combine with Global Growth Companies in $3Bn Deal
Quadro Acquisition One Corp. (NASDAQ:QDRO) has entered into a definitive agreement to combine with Global Growth Companies at an enterprise value of $3 billion.
Global Growth operates a diverse set of companies in the healthcare, financial services and communications fields. ...READ MORE
Morning Roundup: January 18, 2024
At the SPAC of Dawn
While East Asia continues to account for the largest portion of SPAC teams based outside of the US, the unique team behind Oxus (NASDAQ:OXUS) put a few more bricks in its path to completion this week. ...READ MORE
Vision Sensing Acquisition Corp. (VSAC) to Combine with Mediforum in $250M Deal
Vision Sensing (NASDAQ:VSAC) has entered into a definitive agreement to combine with Korean drug developer firm Mediforum at an enterprise value of $250 million.
Seoul-based Mediforum provides supplements and medicines derived from traditional ingredients to treat Alzheimer’s and memory loss. ...READ MORE
Podcast: Zapata AI’s CEO & Co-Founder Christopher Savoie
Buzz around generative AI has been off to the races lately and that is exactly where Zapata AI has put many of its tools to work.
This week, we speak with Christopher Savoie, CEO and Co-founder of Zapata AI and Bill Sandbrook, Co-CEO and Chairman of Andretti Acquisition Corp. ...READ MORE
Digital World Acquisition Corp. (DWAC) Terminates Remaining PIPE
Digital World Acquisition Corp. (NASDAQ:DWAC) has disclosed the termination of the remaining $530.5 million of its PIPE, with investors currently exploring alternative financing options.
The decision comes as a result of challenges related to one of the closing conditions for the PIPE, specifically the effectiveness of the initial resale Registration Statement by the SEC. ...READ MORE
Morning Roundup: January 17, 2024
At the SPAC of Dawn
Despite a slow start to 2024, there are a variety of signs of the market coming back. Among them, NASDAQ CEO Adena Friedman noted yesterday in a Bloomberg interview in Davos that 85 companies have already lined up to list on the exchange. ...READ MORE
Flame (FLME) Increases PIPE for Sable Offshore Deal
Flame Acquisition Corp. (NYSE:FLME) has once again increased the PIPE for its combination with Sable Offshore, totaling around $520.4 million, or 52 million shares at $10 per share, upon completion of the deal. ...READ MORE
Newcourt (NCAC) Adds $12.5M Convertible Note to Psyence Deal
Newcourt (NASDAQ:NCAC) announced in an 8-K this morning that it has secured an aggregate of $12.5 million in convertible notes for its merger with psychedelic medicine company Psyence (CSE:PSYG).
The notes will consist of up to four senior secured convertible notes, issuable to the purchaser at or after the closing, in exchange for up to $10 million in subscription amounts. ...READ MORE
Morning Roundup: January 16, 2024
At the SPAC of Dawn
The SPAC market has officially entered an election season with former President Donald Trump’s victory Monday in the Iowa caucus on the road to a potentially securing the Republican nomination. ...READ MORE
SPAC IPO Terms Tracker: January 12, 2024
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