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Author: Nicholas Alan Clayton

lock-ups

SPAC Lock-Up Expirations to Watch in February 2023

Jan 31, 2023 Headline Post, INTEL by Nicholas Alan Clayton
The shortest month of the year is kicking off this time around with a front-loaded series of lock-up expirations marking 10 de-SPAC’d companies and eight sponsors newly freed to trade their shares in total. Most of these expiration dates are to hit in the first 10 days of the month and three are opening on
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L Catterton Asia Acquisition Corp (LCAA) to Combine with Lotus Technology in $5.4Bn Deal

Jan 31, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton
L Catterton Asia (NASDAQ:LCAA) has entered into a definitive agreement to combine with luxury electric vehicle manufacturer Lotus at an enterprise value of $5.4 billion. Wuhan, China-based Lotus Technology develops and sells high-performance sportscars with a new SUV model debuting in early 2023. The combined company is expected to trade on the Nasdaq under the
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Lionheart III Corp. (LION) Shareholders Approve Security Matters Deal

Jan 31, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Nicholas Alan Clayton

Lionheart III (NASDAQ:LION) announced in an 8-K this morning that its shareholders approved its combination with advanced materials company Security Matters (ASX:SMX) at a special meeting January 30.

The filing did not divulge redemption figures, but the SPAC’s shares spiked to a high of $14.00 on the day of the vote before settling to a close at $10.50, above its estimated trust value of $10.35 per share. ...READ MORE

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Seaport Calibre Materials Acquisition Corp. (SCMA) Adds Non-Redemption Agreements

Jan 30, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Nicholas Alan Clayton

Seaport Calibre Materials Acquisition Corp. (NASDAQ:SCMA) announced in an 8-K that it has inked new non-redemption agreements after postponing its initial extension vote.

The SPAC has agreed to allocate up to 37,500 promote shares (1.1%) to investors holding in exchange for them agreeing not to redeem an aggregate of 150,000 shares at the vote now rescheduled to January 31. ...READ MORE

Prime Impact Acquisition I (PIAI) to Combine with Cheche Technology in $841M Deal

Jan 30, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton
Prime Impact I (NYSE:PIAI) has entered into a definitive agreement to combine with auto insurance firm Cheche at an enterprise value of $841 million, or about 2.3x its 2022 revenue. Beijing-based Cheche provides a digital insurance platform for car owners in China with about 34 million vehicles covered. The combined company is expected to trade
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Denali Capital Acquisition Corp. (DECA) to Combine with Longevity Biomedical in $236M Deal

Jan 26, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton
Denali Capital (NASDAQ:DECA) has entered into a definitive agreement to combine with biopharmaceutical firm Longevity at an equity value of $236.2 million. Bothell, Washington-based Longevity is building a platform to consolidate a number of clinical-stage therapies, beginning with treatment candidates aiming to improve outcomes of certain vascular conditions as well as replace lost tissue. The
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Jack Creek Investment Corp. (JCIC) Shareholders Approve Bridger Deal

Jan 24, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Jack Creek (NASDAQ:JCIC) announced that its shareholders have approved its combination with Bridger Aerospace at a special meeting earlier today.

The parties have not yet released redemption figures, but the six SPACs that have completed deals since December 1 and reported results had an average of about 96.6% of shares redeemed. ...READ MORE

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Broad Capital Acquisition Corp. (BRAC) to Combine with Openmarkets in $90M Deal

Jan 19, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton
Broad Capital (NASDAQ:BRAC) has entered into a definitive agreement to combine with fintech firm Openmarkets at an enterprise value of $90 million. Melbourne, Australia-based Openmarkets offers enterprise software tools to financial planners and brokers while also providing an equity and derivatives trading platform for retail traders in the Australian market. The combined company is expected
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