SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among companies developing ghost kitchen business models. We look at why they are compelling and why each could be a fit for a blank-check merger. ...READ MORE
Mallard (NASDAQ:MACU) announced this morning that it plans to begin liquidating its trust on April 29, after facing high redemptions connected with its April 25 vote to extend its transaction deadline to October 29. ...READ MORE
SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among Singapore-based companies. We look at why they are compelling and why each could be a fit for a blank-check merger. ...READ MORE
Software Acquisition Group III (NASDAQ:SWAG) has added $60 million in convertible note financing to its combination with cloud software firm Nogin, which will cover the transaction’s $50 million minimum cash condition. ...READ MORE
Oaktree Acquisition Corp. II (NYSE:OACB) has added up to $250 million to its combination with biosimilar drugmaker Alvotech through two facilities to replace potential redemptions.
The backstops are made up of an $150 million standby equity purchase agreement (SEPA) from YA II PN, an affiliate of Oaktree II’s sponsor, and a binding term sheet providing $75 million to $125 million in debt from Sculptor Capital Management. ...READ MORE
Dune (NASDAQ:DUNE) announced this morning that it has filed a lawsuit in Delaware court alleging that its combination target TradeZero “fraudulently induced” it into entering the merger and has “materially breached” that agreement, causing “irreparable injury” to Dune. ...READ MORE
SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among companies set to see increased demand among companies that could prove resilient of even benefit should the US tip into recession. ...READ MORE
Spring Valley (NASDAQ:SV) has added $15 million to the PIPE for its combination with nuclear power company NuScale, bringing the deal’s total PIPE proceeds to $236 million.
The transaction’s PIPE now exceeds Spring Valley’s $232 million trust and the parties had already secured the deal’s $200 million minimum cash condition with previous PIPE additions. ...READ MORE
MDH Acquisition Corp. (NYSE:MDH) has mutually terminated its combination agreement with digital auto insurance provider Olive.com.
The press release did not include a reasoning for the breakup, but like many deals in the first half of 2022, the general malaise in the current market was the likely culprit. ...READ MORE
