The implication that SPACs would have to pay the 1% excise tax on redemptions has sent ripples of uncertainty through the market, but, despite much investor engagement throughout 2023, the issue did not appear to be a primary factor in the fall of any vehicles that year. ...READ MORE
Corner Growth (NASDAQ:COOL) has reduced the pre-money equity value -64% for its merger target Noventiq to $315 million from $877 million in a series of amendments as the two sides approach close. ...READ MORE
Investors are about to get a pair of indicators today on the health of the US housing market heading into the new year with both the Mortgage Market and Mortgage Refinance indices announcing this morning. ...READ MORE
Israel Acquisitions Corp. (NASDAQ:ISRL) has entered into a definitive agreement to combine with software firm Pomvom (TA:PMVM) at an equity value of $125 million.
The Tel Aviv-based company provides app-based tools to allow visitors to amusement parks to access media of themselves captured by the venue’s cameras. ...READ MORE
Twelve Seas II (NASDAQ:TWLV) has signed a definitive agreement to combine with aquatic entertainment firm Crystal Lagoons for $350 million in share compensation.
Miami-based Crystal Lagoons has developed the technology to construct large pool-like water features for resorts and entertainment venues. ...READ MORE
The first trading day of the year kicks off with five extension votes, which is fitting because that is likely to be a theme throughout early 2024. ...READ MORE
Christmas is for closers only in 2023, apparently, as the month has featured the most SPAC deals closed all year with 14.
In fact, this is the highest monthly total in two years since the doozy in December 2021 during which 24 deals were closed. ...READ MORE
AIB Acquisition Corporation (NASDAQ:AIB) has entered into a definitive agreement to combine with Hong Kong-based logistics service provider PSI Group at an enterprise value of $200 million, or 1.5x its 2021 revenue. ...READ MORE
Among the de-SPACs buffeted by the month’s tip into positive economic sentiment was one of the companies that helped boost the enthusiasm of the last SPAC cycle in the first place in MP Materials (NYSE:MP). ...READ MORE
BurTech Acquisition Corp. (NASDAQ:BRKH) has entered into a definitive agreement to combine with AI-enabled edge computing firm Blaize at an enterprise value of $894 million.
El Dorado Hills, California-based Blaize makes smart-vision hardware for the automotive, retail and software industries. ...READ MORE
AlphaTime is the only SPAC with a vote scheduled for the day after Christmas, that being an extension vote, and the final week of the year is currently looking lighter in expected actions. ...READ MORE
Screaming Eagle (NASDAQ:SCRM) has entered in to a definitive agreement to combine with Lionsgate Studios at an enterprise value of $4.6 billion.
Lionsgate Studios will be made up of the TV studio and film production portions of its parent Lionsgate Entertainment (NYSE:LGF.A, ...READ MORE
Chavant Capital (NASDAQ:CLAY) has closed its combination with semiconductor maker Mobix Labs and the combined company’s shares and warrants are expected to begin trading on the Nasdaq under the symbols “MOBX” and “MOBXW” later today. ...READ MORE
Many companies may be packing it in for the year today as it is the last trading day before Christmas, but SPACs still have plenty left on their docket. ...READ MORE
Prospector (NASDAQ:PRSR) closed its combination with autonomous driving firm LeddarTech and the combined company’s shares and warrants are expected to begin trading on the Nasdaq under the symbols “LDTC” and “LDTCW” at the opening bell December 22. ...READ MORE
December has been a good month for de-SPAC exits.
Two weeks ago today, AbbVie (NYSE:ABBV) agreed to acquire neuroscience drug developer Cerevel Therapeutics (NASDAQ:CERE) for $45 per share three years after its combination with ARYA II, making it one of the most lucrative de-SPAC exits of all time. ...READ MORE
EG Acquisition Corp. (NYSE:EGGF) shareholders approved its combination with private aviation firm flyExclusive, but the SPAC has delayed its scheduled takeoff into the public markets.
The SPAC had previously expected the transaction to close today, but it is still on the tarmac as its application to list on the NYSE American is still under review and it is waiting for all closing conditions to be waived or satisfied. ...READ MORE
“Go north, young man” could be the new refrain for EV companies looking to growth as Canada this week passed a law requiring all new vehicles to be emissions-free by 2035. ...READ MORE