Author: Nicholas Alan Clayton

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Canna-Global Acquisition Corp (CNGL) Halted as Nasdaq Investigates Share Issuance

The Nasdaq announced it has halted trading for Canna-Global (NASDAQ:CNGL), and not for any of the usual reasons, but rather for a request of information following a particularly unusual issuance of shares. Essentially, Canna-Global and underwriter EF Hutton agreed to retire the $8 million deferred underwriting fee the SPAC still owed it at close. EF
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Arogo Capital Acquisition Corp. (AOGO) to Combine with Ayurcann Holdings in $210M Deal

Arogo Capital (NASDAQ:AOGO) has entered into a definitive agreement to combine with cannabis firm Ayurcann (CSE:AYUR) at an enterprise value of $210 million. Ayurcann sells cannabis products primarily direct-to-consumer in Canada and is a leading brand in Ontario. The deal is expected to be completed in the second half of 2024. Transaction Overview Arogo has
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New SPAC: AA Mission Acquisition Corp (AAMU) Files for $300M IPO

AA Mission (NASDAQ:AAMU) has filed to be underwriter Clear Street’s second SPAC IPO, this time shooting for double the raise with $300 million before over-allotments. The vehicle becomes the first SPAC to be filed with an overfunded trust in two months. It will have $10.05 per unit in trust from the start, which may have
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Goldenstone Acquisition Limited (GDST) to Combine with Infintium Fuel Cell Systems in $130M Deal

Goldenstone (NASDAQ:GDST) has entered into a definitive agreement to combine with hydrogen energy firm Infintium at an enterprise value of $130 million. Greer, South Carolina-based Infintium makes hydrogen fuel cell power packs for industrial fork lift clients. The combined company is expected to trade on the Nasdaq once the deal is completed in the first
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Coliseum Acquisition Corp. (MITA) to Combine with Rain Generation in $45M Deal

Coliseum (NASDAQ:MITA) has entered into a definitive agreement to combine with agtech firm Rain Generation Technology at an pre-money equity valuation of $45 million. Naples, Florida is working to commercialize technology that ionizes the air at select times to generate additional rainfall over a selected area. The combined company is expected to trade on the
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Ault Disruptive Technologies Corporation (ADRT) to Combine with Gresham Worldwide in $83M Deal

Ault Disruptive (NYSE:ADRT) has entered into a definitive agreement to combine with defense contractor Gresham Worldwide (OTC:GIGA) at an enterprise value of $83 million. Scottsdale, Arizona-based Gresham provides electronic components and communication equipment to the defense and healthcare sectors through a series of subsidiaries. The combined company is expected to trade on the NYSE American
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Cartica Acquisition Corp (CITE) to Combine with Yotta in $4.1Bn Deal

Cartica (NASDAQ:CITE) has entered into a definitive agreement to combine with Indian data center firm Nidar Infrastructure, known as Yotta, at an enterprise value of $4.16 billion, or 15.2x its 2025E EBITDA. Yotta provides data center processing infrastructure to software firms with a growing specialization in AI services. Transaction Overview Cartica has an estimated $25
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New SPAC: Black Spade Acquisition II Co. (BSIIU) Files for $150M IPO

Black Spade II (NASDAQ:BSIIU) is the latest repeat SPAC team to return to the market, but they are doing so with a newcomer underwriter in Clear Street as it seeks a $150 million IPO. This is Clear Street’s first SPAC IPO as left lead although it has been busy in the capital markets outside of
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Morning SPAC News Roundup: June 24, 2024

At the SPAC of Dawn The final week of an action-packed June for the SPAC market includes eight extension votes on the schedule and a vote to approve Global Partner II‘s (NASDAQ:GPAC) combination with Stardust Power, which has some last-minute changes itself (see below). The parade of newly issued SPACs has also continued, although the
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New SPAC: Future Vision II Acquisition Corp. (FVNNU) Files for $50M IPO

Future Vision II (NASDAQ:FVNNU) has filed for a $50 million IPO to hunt for a TMT target in Asia including intelligent chips, 5G and other emerging technologies there. Given the heightened competition and trade protectionism around these technologies lately, it is interesting that Future Vision II hasn’t ruled out combining with a Chinese target. In
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New SPAC: Voyager Acquisition Corp. Files for $261M IPO

Voyager (NASDAQ:VASHU) has filed for a SPAC IPO featuring many of the now increasingly familiar terms pushed by underwriter Cantor Fitzgerald over the past month, but does include a novel dollar figure for its raise at $261 million, before any over-allotments. Outside of this, Voyager’s trust is funded to 100.00% with $10.00 per unit to
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Aimei Health Technology Co. (AFJK) to Combine with United Hydrogen in $1.6Bn Deal

Aimei Health (NASDAQ:AFJK) has entered into a definitive agreement to combine with energy firm United Hydrogen at a pro-forma enterprise value of $1.6 billion. Shanghai-based United Hydrogen provides services for clients in the hydrogen energy space including storage, transportation and power generation. The combined company is expected to trade on the Nasdaq once the deal
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