While East Asia continues to account for the largest portion of SPAC teams based outside of the US, the unique team behind Oxus (NASDAQ:OXUS) put a few more bricks in its path to completion this week. ...READ MORE
Vision Sensing (NASDAQ:VSAC) has entered into a definitive agreement to combine with Korean drug developer firm Mediforum at an enterprise value of $250 million.
Seoul-based Mediforum provides supplements and medicines derived from traditional ingredients to treat Alzheimer’s and memory loss. ...READ MORE
Despite a slow start to 2024, there are a variety of signs of the market coming back. Among them, NASDAQ CEO Adena Friedman noted yesterday in a Bloomberg interview in Davos that 85 companies have already lined up to list on the exchange. ...READ MORE
The SPAC market has officially entered an election season with former President Donald Trump’s victory Monday in the Iowa caucus on the road to a potentially securing the Republican nomination. ...READ MORE
Friday brings a few more potential swings in the ongoing rate cut-watch as the Producer Price Index (PPI) is set to drop at 8:30 am ET. ...READ MORE
After a few fits, starts and hacks, the first spot Bitcoin ETFs are set to trade later today.
The move has been long-awaited by the crypto community as it has been seen as a means of quickly widening the asset’s ownership base, and therefore serve as the sort of catalyst that would push up demand – and therefore, prices – all of its own. ...READ MORE
While some SPACs have gotten off to a fast start after recent IPOs, the process has been start-and-stop for others.
Blue Room, which had aimed to raise $200 million in an IPO and got effective in late December, instead withdrew its registration this week. ...READ MORE
SPAC votes are picking back up today with Denali Capital‘s (NASDAQ:DECA) rescheduled special meeting to approve its combination with Longevity Biomedical and four other extension votes. ...READ MORE
ClimateRock (NASDAQ:CLRC) has entered into a definitive agreement to combine with GreenRock for about $446 million in share compensation.
ClimateRock has about $26.8 million in its current trust having seen about 67.3% of its shares redeemed in an earlier extension that gives it the right to push its transaction deadline to May 2. ...READ MORE
While the SPAC market continues to await movement on any new SPAC rules, this week could bring an SEC decision on bitcoin ETFs. A half dozen investment firms updated their S-1s for their prospective exchange-traded crypto funds this morning and there is speculation that the commission could make a broad ruling on the formations January 10. ...READ MORE
Today could see news of the first 2024 completion votes, as Revelstone (NASDAQ:RCAC) hosts its previously adjourned meeting and Pono Capital Three (NASDAQ:PTHR) could provide an update on its vote to complete yesterday. ...READ MORE
Roth CH V (NASDAQ:ROCL) has entered into a definitive agreement to combine with New Era Helium at a pre-money valuation of $90 million.
Midland, Texas-based New Era owns and operates about 137,000 acres of exploitable territory in New Mexico, which it believes contains 2.5 billion cubic feet (BCF) of helium reserves. ...READ MORE
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