GigCapital2 & Bolder Industries Sign Non-Binding LOI

Oct 27, 2020 INTEL by Matt Cianci

Building on our report from yesterday, GigCapital2 Inc. (NYSE:GIX) has released more information this morning on having signed an exclusive LOI with Bolder Industries, a sustainable rubber ingredient-maker, to be valued at an initial enterprise value of $880M. The announcement comes less than two months from GigCapital2’s deadline for a business combination – December 20,
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Horizon Acquisition Corporation II (HZON) Prices $500M IPO

Oct 20, 2020 INTEL by Matt Cianci

Horizon Acquisition Corp. II (HZON) announced the pricing of its $500 million IPO last night and its units are expected to begin trading on the Nasdaq under the symbol “HZON.U” today, Tuesday, October 20.

The IPO Market is Showing Signs of Further Indigestion

Oct 19, 2020 INTEL by Matt Cianci

Edoc Acquisition Corp. (ADOC), re-filed its S-1 this morning to re-up the value of its (already overfunded) trust. The move is the latest in the recent trend of SPACs overfunding their trust rather than expanding warrant coverage. In the case of ADOC, they are adding to their already overfunded trust, moving from $10.10 per unit
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AMCI Acquisition Corp. (AMCI) to Combine with Advent Technologies

Oct 13, 2020 INTEL by Matt Cianci

AMCI Acquisition Corp. (AMCI) started off the shortened week by announcing a deal that would add to the long list of electrification companies combining with SPACs. Advent Technologies announced this morning that it has signed a definitive merger agreement with AMCI and will go public in a deal giving it a pro forma enterprise value
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Crescent Acquisition Corp. Announces Termination of Agreement

Oct 6, 2020 INTEL by Matt Cianci

Covid-19 still claiming SPAC victims Crescent Acquisition Corp. (CRSA), announced this morning it has terminated its agreement with F45 Training Holdings, but will continue to seek an alternative business combination. Crescent cited Covid-19 as having created “prolonged uncertainty” to move forward with the merger. This is similar to Allegro Merger Corp. and Leisure Acquisition Corp. who
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Live Oak Acquisition Corp. (LOAK) to Combine with Danimer Scientific in $525M Deal

Oct 5, 2020 INTEL by Matt Cianci

Live Oak Acquisition Corp. (NYSE: LOAK) Issued a press release this morning that it had entered into a definitive business combination agreement with bioplastics company Danimer Scientific in a deal that would give it at an implied pro forma enterprise value of $525 million. Georgia-based Danimer is a pioneer in creating environmentally responsible and natural
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LifeSci Acquisition Corp. (LSAC) to Combine with Vincera Pharma, Inc.

Sep 29, 2020 INTEL by Matt Cianci

LifeSci Acquisition Corp. (LSAC), announced this morning that they have entered into a definitive business combination agreement with Vincera Pharma, Inc. (“Vincera”), a clinical-stage biopharmaceutical company aspiring to address the unmet medical needs of patients with cancer through paradigm-shifting therapeutics. LifeSci IPO’d earlier this year as Covid-19 was dominating the headlines and grinding global commerce
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Deal Terms: Tightening for Some, Loosening for a Select Few

Sep 25, 2020 INTEL by Matt Cianci

After experiencing a period where any budding entrepreneur or financier has entertained the idea of joining the no-longer exclusive club of SPAC founders, the market is once again flexing its efficient eye. This morning, we had two different outcomes for SPACs re-filing their S-1’s. Altimeter Growth Corp. (AGCUU) re-filed this morning to bring their units
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Pivotal Investment Corporation II to Combine with XL Fleet

Sep 18, 2020 INTEL by Matt Cianci

More “deals with wheels”…. Pivotal Investment Corporation II (PIC.U), announced this morning that they have signed a definitive business combination agreement with XL Fleet., a leader in vehicle electrification solutions for commercial and municipal fleets. Pivotal II and XL Fleet will combine as “XL Fleet” and will be listed under the new symbol, “XL”. The
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Sports Entertainment Acquisition Corp. (SEAH.U) Files for $350M IPO

Sep 15, 2020 INTEL by Matt Cianci

Now that sports are back and empty stadiums aren’t that odd, we saw Sports Entertainment Acquisition Corp. (SEAH.U) file its S-1 just ninety minutes ahead of opening kickoff for Monday Night Football. The $350M offering will be led by Goldman and PJT to raise money for a combination in the “sports and entertainment” sectors as
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Altimeter Growth Corp. Files $450M IPO

Sep 14, 2020 INTEL by Matt Cianci

Altimeter Growth Corp. announced on Friday it will be coming to market with a $450M SPAC, sponsored by the highly regarded technology investment firm, Altimeter Capital, who is looking to invest in another high growth private company. Founded in 2008, Altimeter has made a name for itself after investing in many high profile technology companies
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Qell Acquisition Corp. (QELL.U) files for $300M IPO

Sep 14, 2020 INTEL by Matt Cianci

Friday after the close, a second ESG-related SPAC filed for IPO last week. Qell Acquisition Corp. (QELL.U) will be raising $300M for a “target in the next-generation mobility, transportation and sustainable industrial technology sectors”. The SPAC is led by CEO Barry Engle and CFO Sam Gabbita, who together have a strong background in transportation and
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B. Riley Principal Merger Corp. II to Combine with Eos Energy Storage

Sep 8, 2020 INTEL by Matt Cianci

This morning B. Riley Principal Merger Corp. II (BMRG) entered into a definitive agreement to merge with Eos Energy Storage at an initial enterprise value of $550M. This is the second deal for the B. Riley team led by Daniel Shribman & Kenneth Young and we can’t say we are too surprised in how this consummated
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GS Acquisition Holdings Corp. II (GSAH.U) Prices $700M IPO

Jun 30, 2020 INTEL by Matt Cianci

GS Acquisition Holdings Corp. II (GSAH.U), announced the pricing of their $700 million SPAC IPO this morning and the units are expected to begin trading today, Tuesday, June 30th, under the symbol NYSE: GSAH.U.

HPX Corp. Files for $200M SPAC IPO

Jun 29, 2020 INTEL by Matt Cianci

On Friday afternoon, HPX Corp. (HPX.U) filed for a $200 million IPO. They will be focused on finding a company in Brazil and will be one of two Credit Suisse SPACs actively looking for a target in Brazil (Replay Acquisition Corp.

Insurance Acquisition Corp. to Combine with Shift Technologies

Jun 29, 2020 INTEL by Matt Cianci

Insurance Acquisition Corp. (INSU) filed an 8-K on Monday morning announcing they entered into a Definitive Agreement with Shift Technologies, the eCommerce platform dedicated to forging a better used car buying & selling experience. Shift was founded in 2013 and is only selling in select California and Oregon markets for now, but plans to expand
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Combination Report: Hyliion-Paving the Way for Long Haul Investors

Jun 28, 2020 INTEL by Matt Cianci

Hyliion Renewable energy is often associated with the color green because it is a safer alternative for the environment than fossil fuels. Natural gas is associated with blue because of the blue flame it gives off when burned. Tortoise Advisors officially raised capital to focus on the North American energy industry, but they quickly pivoted
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Kensington Capital Acquisition Corp. (KCAC.U) Prices Upsized $200M IPO

Jun 26, 2020 INTEL by Matt Cianci

Kensington Capital Acquisition Corp. (KCAC.U), announced the pricing of their upsized $200 million SPAC IPO tonight and the units are expected to begin trading tomorrow, Friday, June 26th, under the symbol Nasdaq: KCAC.U.

Artius Acquisition Inc. Files for $525M SPAC IPO

Jun 25, 2020 INTEL by Matt Cianci

On Thursday morning, Artius Acquisition Inc. (AACQU) filed for a $525 million IPO. They will be focused on “technology enabled businesses that directly or indirectly offer specific technology solutions, broader technology software and services, or financial and transactional services to companies of all sizes”.

GS Acquisition Holdings Corp. II Re-Files with a 1/4 Warrant

Jun 24, 2020 INTEL by Matt Cianci

GS Acquisition Holdings Corp. II (GSAH), re-filed its S-1 on Wednesday night, with a notable change – their warrants included in their units, which were originally 1/3 warrants, are now 1/4 warrants.

Author: Matt Cianci