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Achari Ventures Holding Corp. I (AVHI) to Combine with Vaso in $176M Deal

Dec 8, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the
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SPAC-morning-roundup

Morning Roundup: December 8, 2023

Dec 8, 2023 Headline Post, INTEL, SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn

This week ends with an unusually busy earnings calendar as 172 US-listed companies report quarterly figures today. Among them is Exela Technologies (NASDSAQ:XELA), which completed a combination with Quinpario 2 in 2017.

SPAC-morning-roundup

Morning Roundup: December 7, 2023

Dec 7, 2023 Headline Post, INTEL, SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn

The latter half of 2023 has largely told a story of retrenchment in the SPAC market as much of the excess in the domain has found itself terminating and liquidating.

new-spac

New SPAC: Techybird Acquisition Corp. (TKBDU) Files for $60M IPO

Dec 6, 2023 Headline Post, INTEL, New S-1 Filings by Nicholas Alan Clayton

TechyBird Acquisition Corp. (NASDAQ:TKBD) filed for a $60 million IPO today, putting it in line to become the second 2023 IPO from an underwriter that is relatively new to the SPAC space. That underwriter, Spartan Capital Securities, brought Aimei Health Technology (NASDAQ:AFJK) to market last week with similar terms as this new member to its
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Perception Capital Corp IV (RCFA) to Combine with Blue Gold in $114M Deal

Dec 6, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Perception Capital Corp IV (NYSE:RCFA) has entered into a definitive agreement to combine with mining firm Blue Gold for $114.5 million in equity consideration.

London-based Blue Gold has been developed as a platform to acquire gold mining assets in Ghana.

SPAC-morning-roundup

Morning Roundup: December 6, 2023

Dec 6, 2023 Headline Post, INTEL, SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn

SPACs continue to love EVs, but the Biden administration is throwing cold water on at least some of the party as the US will no longer offer a $7,500 tax credit for EV purchases if their battery was produced in China.

SPAC-morning-roundup

Morning Roundup: December 5, 2023

Dec 5, 2023 Headline Post, INTEL, SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn

With Hanukkah kicking off the winter holiday season at the end of the week, SPACs are tying up a fair amount of loose ends through the next few days.

TMT Acquisition Corp. (TMTC) to Combine with eLong Power in $450M Deal

Dec 4, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

TMT Acquisition Corp. (NASDAQ:TMTC) has entered into a definitive agreement to combine with eLong Power at an equity value of $450 million.

Ganzhou, China-based eLong Power makes lithium-ion batteries for EVs and specialty vehicles along with energy storage systems.

Teaser

APx Acquisition Corp. I (APXI) Signs LOI with DNA Test Firm

Dec 4, 2023 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

APx Acquisition Corp. (NASDAQ:APXI) announced a letter of intent to combine with an unnamed biotech firm, but teased little other information as it heads into an extension vote on Friday.

Shareholders at the meeting are to decide whether to give APx the ability to extend its transaction deadline to a maximum of December 9, 2024 in exchange for monthly contributions of the lesser of $125,000 or $0.025 per share monthly.

SPAC-morning-roundup

Morning Roundup: December 4, 2023

Dec 4, 2023 Headline Post, INTEL, SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn

Although cryptocurrencies and SPACs are not directly related in any way beyond the 11 announced and completed deals in the space, the two have coincidentally seen their stars rise and fall virtually in concert over the past few years.

SPAC-morning-roundup

Morning Roundup: December 1, 2023

Dec 1, 2023 Headline Post, INTEL, SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn

There had been hopes that this week would take one world conflict off the board, but combat has resumed in the Middle East as other eyes are likely to be fixed on new Fed comments today.

lock-ups

SPAC Lock-Up Expirations to Watch in December 2023

Nov 30, 2023 Headline Post, INTEL by Nicholas Alan Clayton

The pace of lock-up expirations is picking up in the final month of the year after a relatively quiet November. Seven de-SPACs and sponsors will be freed to run downstairs and see what the public markets have brought them, but not all are likely to find treats in their wooden clogs. The fastest kid into
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Brilliant Acquisition Corporation (BRLI) “Finalizes”, Not Closes Nukkleus Deal

Nov 30, 2023 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

Nukkleus (OTC:NUKK) announced “the completion of its strategic merger” with Brilliant (NASDAQ:BRLI) this morning, which has caused some ripples in the market, but it does not appear to represent an actual closing of the business combination.

10X Capital Venture II (VCXA) Tweaks African Agriculture Terms, Funding Ahead of Vote

Nov 30, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

10x Capital Venture II (NASDAQ:VCXA) filed a variety of changes to its combination with African Agriculture while also postponing its completion vote to 8 am ET December 5.

The tweaks waive African Agriculture’s requirement to secure an offtake agreement and also shift 3,000,000 shares to a bonus pool for all combined company shareholders.

SPAC-morning-roundup

Morning Roundup: November 30, 2023

Nov 30, 2023 Headline Post, INTEL, SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn

Pono Capital Three (NASDAQ:PTHR) is the latest SPAC to try and bring an eVTOL target in for landing, and, as a part of its final flight checks, it dropped its first full investor presentation for its target Horizon yesterday.

DUET Acquisition Corp. (DUET) to Combine with Fenix 360 in $610M Deal

Nov 29, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

DUET Acquisition Corp. (NASDAQ:DUET) has signed a business combination agreement with social media firm Fenix 360 at an enterprise value of $610 million.

Singapore-based Fenix 360 is developing an app-based social media platform designed for artists to better engage with fans and monetize interactions.

SPAC-morning-roundup

Morning Roundup: November 29, 2023

Nov 29, 2023 Headline Post, INTEL, SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn

Filings after the bell yesterday provided another three-liquidation day for SPACs bringing this week’s tally to four and extending a streak of five straight weeks with four to five liquidations each week.

L Catterton Asia Acquisition Corp (LCAA) Adds $750M to Lotus Deal

Nov 28, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

L Catterton Asia (NASDAQ:LCAA) announced this morning that it has upsized the committed financing in its combination with EV sports car maker Lotus to $870 million in total.

The latest fuel injection comes in the form of $750 million in convertible notes and PIPE commitments under so far undisclosed terms.

SPAC-morning-roundup

Morning Roundup: November 28, 2023

Nov 28, 2023 Headline Post, INTEL, SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn

SPAC closing timelines can always be somewhat unpredictable, but PROOF I (NYSE:PACI) has the opportunity today to vie for a recent speed record today.

It announced a combination with private aviation firm Volato 118 days ago on August 2 and its shareholders are set to vote to approve the combination later today.

SPAC-morning-roundup

Morning Roundup: November 27, 2023

Nov 27, 2023 Headline Post, INTEL, SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn

After mixed signals for the consumer sector earlier this month, initial Black Friday sales numbers have shown that Americans were not too stuffed for a shopping spree this year.