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SPAC-morning-roundup

Morning SPAC News Roundup: March 18, 2024

At the SPAC of Dawn Much of the action around SPAC votes this week is back-loaded towards Friday. Monday through Wednesday will see four extension votes and one completion vote, while Thursday and Friday is set to host three of each. The headliner of these completion votes is of course Digital World‘s (NASDAQ:DWAC) long-awaited special
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SPAC round-up

Spinoffs Shake Up SPAC Playbook

In the current market conditions, SPACs looking for a target have to thread multiple needles at once. Many in the market now – particularly of the 2021 vintage – set out with teams experienced in high-growth technology sectors, but a risk-off market spooked by inflation has expressed itself in an appetite for more “sure things.”
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SPAC-morning-roundup
SPAC round-up

Afternoon SPAC News Roundup: March 14, 2024

News and Rumors PR: eVTOL maker Lilium (NASDAQ:LILM) has partnered with Atlantic Aviation to provide infrastructure support Lilium’s launch into Florida, California, Texas and Northeast US markets. The two will collaborate on the planning aspects of integrating Lilium aircraft and regional jet service operations into airports. Lilium combined with Qell in September 2021. PR: Construction
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new-spac

New SPAC: Eureka Acquisition Corp Files for $50M IPO

Eureka Acquisition Corp. has filed for a $50 million SPAC with Maxim Group that features another China-focused team, but unlike this week’s other new S-1, leaves the door open to a transaction with a Chinese company. In fact, Eureka’s sponsor notes that due its team’s location in and ties to China, it may have a
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SPAC round-up
SPAC-morning-roundup

Morning SPAC News Roundup: March 13, 2024

At the SPAC of Dawn For all of the swings that Digital World (NASDAQ:DWAC) stock has taken in the past two years, the reaction to the chairman of its target, Trump Media & Technology Group (TMTG), securing the Republican nomination for president has been relatively muted. Digital World shares finished up +2.8% yesterday and are
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SPAC round-up

Afternoon SPAC News Roundup: March 12, 2024

Deals and Amendments Bannix (NASDAQ:BNIX) has terminated its combination with autonomous vehicle maker EVIE autonomous on the basis that the target did not provide requested loans to Bannix as required in the merger agreement. Bannix’s transaction deadline is coming up March 14 and it has not yet divulged the result of an extension vote it
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Focus Impact BH3 (BHAC) to Combine with XCF Global in $1.8Bn Deal

Focus Impact BH3 (NASDAQ:BHAC) has signed a definitive agreement to combine with XCF Global Capital at a pro forma enterprise value of $1.84 billion, or 3.9x its 2025E revenue. Reno, Nevada-based XCF is a newly formed entity aiming to build a network of sustainable aviation fuel refineries. The combined company is expected to trade on
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SPAC-morning-roundup

Morning SPAC News Roundup: March 12, 2024

At the SPAC of Dawn A busy start to the week for SPACs continues with three extension votes scheduled for today’s docket. The week will host three more as well as the completion vote for Arrowroot‘s (NASDAQ:ARRW) combination with AI software firm iLearningEngines, which may have gained some extra spice in between postponements as AI
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Rigel Resource Acquisition Corp. (RRAC) to Combine with Aurous in $362M Deal

Rigel Resource (NYSE:RRAC) has entered into a definitive agreement to combine with South African gold mining operations owned by Blyvoor Gold at a pre-money equity value of $362 million. Johannesburg, South Africa-based Blyvoor Gold operates the mining site of the same name as well as the Gauta tailings retreatment project. The combined company is to
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SPAC round-up

Afternoon SPAC News Roundup: March 11, 2024

News and Rumors Bloomberg Law: The Washington Post has won a dismissal of a defamation suit brought by Trump Media & Technology Group (TMTG), which may refile the suit under amended terms as it works to close its combination with Digital World (NASDAQ:DWAC) as well as several other unrelated lawsuits. SpaceNews: Satellite analytics firm BlackSky
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CONX Corp. (CONX) to Acquire DISH Wireless HQ, Lease It Back in $26.7M Deal

CONX (NASDAQ:CONX) has entered into a definitive agreement to acquire the corporate headquarters building of DISH Wireless for $26.75 million. The Littleton, Colorado facility serves as the offices for DISH Network’s (NASDAQ:DISH) wireless TV and phone services. Transaction Overview Both CONX and EchoStar, which is selling the property, have waived any claim to the SPAC’s
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SPAC-morning-roundup
SPAC round-up
SPAC-morning-roundup

Morning SPAC News Roundup: March 8, 2024

At the SPAC of Dawn March’s first full week comes to a close with a busy day of votes as Power & Digital II (NASDAQ:XPDB), Kingswood (OTC:KWAC) and Redwoods (NASDAQ:RWOD) all work to close their combinations and three more SPACs seek extensions today. More meeting postponements could be in order, however, as Kingswood has pushed
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SPAC round-up

Afternoon SPAC News Roundup: March 7, 2024

News and Rumors Bloomberg: London-listed SPAC TMT Acquisition Plc (LSE:TMTA) has agreed to itself be acquired and hand about $6 million in trust cash over to medical device maker Belluscura. PR: Bitcoin miner Core Scientific (NASDAQ:CORZ) has signed a contract worth up to $100 million to provide up to 16 MW of data center infrastructure
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sagaliam

Sagaliam Acquisition Corp. (SAGA) Delisted After Spree of Nasdaq Violations

Being a public company is hard and the major US exchanges tend to show patience with companies working to stay in compliance with their many listing requirements when mistakes are made. But, everything has it’s limits. Nasdaq hit its limits this week with Sagaliam Acquisition Corp. (NASDAQ:SAGA). The SPAC, which raised $100 million in a
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