Author: Nicholas Alan Clayton

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Morning SPAC News Roundup: April 25, 2024

At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for
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SPAC Dealmaking in Israel Continues Unabated Despite Conflict

Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that
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Drone Racing League Buy Could Revive Long-Pending Newbury Street (NBST) Deal

Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with
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Defense Spending Rises, But Defense SPACs Are Slow-Going

With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the
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Morning SPAC News Roundup: April 22, 2024

At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose
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Solid Ibotta (IBTA) Debut Could Indicate Warming Waters for Tech De-SPACs

Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and
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Morning SPAC News Roundup: April 19, 2024

At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted
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De-SPAC AGBA (AGBA) Soars on Unique $4Bn Deal with Triller

AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm
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Morning SPAC News Roundup: April 18, 2024

At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services
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New Blue Ocean (BOCN) Presentation Predicts 2H24 Profitability for TNL Mediagene

Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is
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FDA Proposals Could Stir New Advantages for Biotech De-SPACs

Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing
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AltC (ALCC) is Trading Hot. Is It Time for a PIPE?

AltC (NYSE:ALCC) has reportedly been taking the pitch deck for its combination with nuclear fission firm Oklo on the road in recent weeks, which has generated the rare result of a SPAC trading significantly above its trust value still well before completing its deal. The SPAC has an estimated $10.59 per share in its trust
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Trump Media (DJT) Files First Post-Close S-1, Sending Stock Tumbling

Trump Media (NASDAQ:DJT) is down about -15% in the pre-market following the filing of its first S-1 since closing its combination with Digital World, and this includes the issuance of the 21,491,251 shares. Of these, 14,375,000 are to be made available for those exercising warrants while the rest would go out to note holders from
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Morning SPAC News Roundup: April 12, 2024

At the SPAC of Dawn As portions of the market rallied suddenly yesterday from Wednesday’s inflation gloom, LiveWire (NYSE:LVWR) was among the surprising gainers. The manufacturer of electric motorcycles that spun out from Harley Davidson in a 2022 SPAC deal with AEA-Bridges has never been among the flashiest EV de-SPACs, but it has quietly provided
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