PROOF (NYSE:PACI) has entered into a definitive agreement to combine with private aviation company Volato at an enterprise value of $261.1 million, or 2.7x its 2022 revenue.
Atlanta-based Volato has developed a fleet of private aircraft and operates a fractional ownership and charter jet network based out of regional airports. ...READ MORE
Alset Capital Acquisition Corp. (NASDAQ:ACAX) announced in an 8-K this morning that its shareholders approved its combination with lifestyle company HWH International at an August 1 special meeting.
It has not yet released its final redemption figures, but went into the vote having already seen 77% redemptions reduce its trust to $20.3 million. ...READ MORE
Churchill VII (NYSE:CVII) has entered into a definitive agreement to combine with private equity firm CorpAcq at an enterprise value of $1.58 billion, or 10.3x its 2023E adjusted EBITDA.
Altrincham, UK-based CorpAcq is a long-term corporate acquirer with a portfolio of 41 enterprises primarily in the industrial sector. ...READ MORE
TLG Acquisition One Corp. (NYSE: TLGA) announced this morning that it has closed its combination with Electriq Power and the combined company’s shares and warrants will begin trading later today on the NYSE under the symbols “ELIQ” and “ELIQ.WS”, ...READ MORE
TradeUP (NASDAQ:UPTD) announced in an 8-K this morning that its shareholders approved its combination with Estrella Biopharma at a special meeting yesterday, July 31.
650,580 shares were redeemed in connection with the vote, leaving the SPAC with just 98,074 public shares remaining from its original IPO. ...READ MORE
KeyArch (NASDAQ:KYCH) has entered into a definitive agreement to combine with charging network ZOOZ (TASE:ZOOZ) at a pro forma equity value of up to $100 million.
Lod, Israel-based ZOOZ has designed an EV-charging station that provides increased efficiency by harnessing kinetic energy while vehicles charge. ...READ MORE
Genesis Unicorn (NASDAQ:GENQ) announced in an 8-K this morning that it has added a forward purchase agreement (FPA) to its combination with sustainable energy firm ESGL Holding.
Vellar Opportunities Fund has agreed to purchase up to 4,400,000 shares from third parties and brokers through the arrangement, which is to take the form of a OTC equity prepaid forward transaction. ...READ MORE
Global System (NASDAQ:GSD) announced this morning that it has postponed its July 31 extension vote to 10 am ET August 7.
Shareholders at the meeting will vote on a proposal allowing it to extend its transaction deadline by one month up to six times, pushing it to February 9 at a maximum. ...READ MORE
Northern Star Investment Corp. II (NYSE:NSTB) announced in an 8-K this afternoon that it has adjourned its special meeting to extend its extension vote to 11 am ET, July 28.
The SPAC plans to use this extra time to engage with investors and effectuate redemption reversals. ...READ MORE
TradeUP (NASDAQ:UPTD) announced in an 8-K this morning that it has added a $6.8 million PIPE to its combination with Estrella Biopharma, which will wipe an equal amount of debt from its books. ...READ MORE
Compute Health (NYSE:CPUH) announced in an 8-K this morning it has adjourned its meeting of warrant holders to vote on previously proposed amendments to the warrant agreement, and it has unveiled a further tweak. ...READ MORE
TLG One (NYSE:TLGA) announced in an 8-K this morning that it has signed a forward purchase agreement (FPA) with Meteora Capital Partners to support its combination with Electriq Power.
Meteora will purchase up to 9.9% of TLG One’s outstanding shares and may waive this ownership restriction at its discretion. ...READ MORE
Everest Consolidator (NYSE:MNTN) provided an update this morning to its combination with debt collector Unifund, which it initially announced in May.
In a press release, the SPAC noted that it expects to contribute 1,500,000 promote shares to a bonus pool that will be distributed pro rata to non-redeeming shareholders in an effort to retain at least $60 million in its $185 million trust through to close. ...READ MORE
Chenghe (NASDAQ:CHEA) has entered into a definitive agreement to combine with precision glass-maker Taiwan Color Optics at an equity value of $380 million.
Taiwan-based Taiwan Color Optics was founded in 2009 and has a pair of R&D facilities in Taiwan working to produce precision glass, light and chip components for the electronics industry. ...READ MORE
Alpha Partners Technology Merger Corp. (NASDAQ:APTM) announced in an 8-K this morning that it has signed a non-binding letter of intent (LOI) to combine with 3D printing firm Glowforge.
The SPAC has thus far released no other details on the proposed merger beyond that Glowforge’s existing shareholders would be expected to roll 100% of their equity into the combined entity. ...READ MORE
PowerUp (NASDAQ:PWUP) announced in an 8-K this morning that it has sold a large portion of its sponsor stake to SRIRAMA Associates in exchange for the investor taking on management responsibilities for the SPAC. ...READ MORE
