Pono Capital Two (NASDAQ:PTWO) announced in an 8-K this morning that it has dropped its valuation in its combination with SBC Medical Group to $1 billion from $1.2 billion.
The wording of the filing does not provide a clear causality for the change, but both versions provided for up to $3 million in equity compensation being removed based on the company’s net working capital at close. ...READ MORE
DHC (NASDAQ:DHCA) has entered into a definitive agreement to combine with marketing firm BEN at a pro forma enterprise value of $358 million.
Jackson, Wyoming-based BEN has developed AI-enhanced customer engagement services for enterprise clients in the automotive, healthcare and financial services sectors. ...READ MORE
Energem Corp. (NASDAQ:ENCP) announced in an 8-K this morning that it has shortened the lock-up for the SPAC’s sponsor while extending it for other parties in the Graphjet combination.
Energem’s sponsor originally was to be locked for one year following close with an early release available only if the combined company traded at or above $12 for 20 of 30 trading days at least 150 days out from close, while company shareholders were all beholden to a six-month lock-up. ...READ MORE
Rosecliff Acquisition Corp. I (NASDAQ:RCLF) announced in an 8-K this morning that its shareholders approved its combination with medtech firm Spectral MD (AIM:SMD) at a special meeting yesterday.
Although all proposals on the ballot were approved by wide margins, an additional 211,136 shares were redeemed in connection with the vote, reducing Rosecliff I’s trust to about $2.6 million with 247,580 public shares outstanding. ...READ MORE
Andretti Acquisition Corp. (NYSE:WNNR) has entered into a definitive agreement to combine with generative AI company Zapata at an enterprise value of $283 million.
Boston-based Zapata has developed technology to use quantum computing and numerical data to generate text and data for industrial applications. ...READ MORE
First Light Acquisition Group, Inc. (NYSE:FLAG) announced in an 8-K this morning that it has brought additional funding to its combination with Calidi Therapeutics through a non-redemption agreement, forward purchase agreement (FPA) and PIPE. ...READ MORE
Fusion Acquisition Corp. II (NYSE:FSNB) announced this morning that it has signed a non-binding letter-of-intent (LOI) to combine with transportation technology company Hyperloop Transportation Technologies for, so far, undisclosed terms.
The news comes within teasing distance of Fusion II’s extension vote scheduled for 11 am ET this morning. ...READ MORE
Graf Acquisition Corp. IV (NYSE:GFOR) announced this morning that it plans to adjourn today’s vote to complete its combination with NKGen without conducting any business.
The special meeting will be pushed to 10:30 am ET September 8. ...READ MORE
Viveon Health (NYSE:VHAQ) announced this morning that it has amended its combination with Clearday to double the equity consideration the target will receive to $500 million from $250 million.
This does not include options, warrants and the 5,000,000 shares Clearday shareholders may receive through an earnout if it achieves profitability over a 12-month period within five years of close. ...READ MORE
First Light Acquisition Group, Inc. (NYSE:FLAG) announced in an 8-K this morning that it has both secured shareholder approval for its combination with Calidi Therapeutics and entered into a forward purchase agreement (FPA) covering up to 340,000 shares to support it. ...READ MORE
Fifth Wall III (NASDAQ:FWAC) announced today that it has closed its combination with parking asset owner Mobile Infrastructure, and the combined company’s stock began trading on the NYSE American under the symbol “BEEP” today. ...READ MORE
CF VIII (NASDAQ:CFFE) announced in an 8-K this morning that its shareholders voted to approve its combination with B2B software firm Exela at a special meeting August 24.
The SPAC has not yet shared its redemption figures from the vote, but had already dispersed about 94.2% of its trust through earlier extension votes. ...READ MORE
Denali Capital (NASDAQ:DECA) announced in an 8-K that it has added $18 million in equity funding to its combination with biotech firm Longevity through the sale of newly issued series A preferred shares. ...READ MORE
Vahanna Tech I (NASDAQ:VHNA) announced in an 8-K this morning that it has signed a forward purchase agreement with Meteora Capital Partners and affiliates covering up to 5,000,000 shares or 9.9% of Vahanna’s total public float at close. ...READ MORE
Prime Number I (NASDAQ:PNAC) announced this morning that it expects to close its combination with EV battery-maker Noco-Noco later today.
The combined company’s shares and warrants are expected to begin trading on the Nasdaq under the symbols “NCNC” and “NCNCW” beginning August 28. ...READ MORE
SEP (NASDAQ:SEPA) has entered into a definitive agreement to combine with wound care firm SANUWAVE (OTC:SNWV) at an enterprise value of $127.5 million, or 7.6x its 2022 revenue.
Eden Prairie, Minnesota-based SANUWAVE has commercialized its FDA-approved UltraMist medical device, which accelerates healing and reduces inflammation by delivering a pain-free mist of medicines to the effected area. ...READ MORE
Clean Energy Special Situations Corp. (NASDAQ:SWSS) announced in an 8-K this morning that it will postpone its extension vote from today to 11 am ET August 28.
It also provided an update on its trust value in the filing, noting that after accounting for taxes it has about $10.18 per share in trust, rather than the $10.36 cited in its last proxy. ...READ MORE
Finnovate (NASDAQ:FNVT) has entered into a definitive agreement to combine with sustainable heavy truck manufacturer Scage at post-money valuation of $1 billion.
Nanjing, China-based Scage is developing a line of hybrid heavy trucks for use in the mining and road freight sectors. ...READ MORE