SPACInsider contributors Anthony Sozzi and Nic Narang this week compiled their three favorite potential SPAC targets among potential targets in the defense sector. We look at why they are compelling and why each could be a fit for a blank-check merger. ...READ MORE
Jaguar Global (NASDAQ:JGGC) has entered into a definitive agreement to combine with smart glass manufacturer GLAAM at an enterprise value of $309 million, or 14.7x its 2022 revenue.
Seoul-based GLAAM manufactures glass that doubles as a display for building exteriors to be used as space for marketing or other media. ...READ MORE
Metals Acquisition Corp. (NYSE:MTAL) announced in an 8-K this morning that it has secured financing for its combination with Glencore’s (LON:GLEN) CSA Copper Mine that roughly follows amended terms it announced in November. ...READ MORE
BurTech Acquisition Corp. (NASDAQ:BRKH) announced in an 8-K this morning that it has entered into non-redemption agreements with one or more investors covering up to 4,000,000 shares.
Its shareholders are heading to a vote at 11:30 am March 10 where they will consider extending the SPAC’s transaction deadline from March 15 to December 15. ...READ MORE
Tristar Acquisition I Corp. (NYSE:TRIS) announced in an 8-K this morning that it has entered into a non-binding letter of intent (LOI) to combine with an unnamed target company.
As per the terms of its prospectus, Tristar I may now automatically extend its transaction deadline by three months from April 18 to July 18 by dint of having the LOI in hand. ...READ MORE
SPACs head into spring with a relatively short list of SPAC sponsors and de-SPAC’d companies reaching the end of their post-deal lock-ups. It is a highly international crop, however, with three of the seven companies newly freed to trade operating out of Asia. ...READ MORE
Altimar Acquisition Corp. III (NYSE:ATAQ) announced in an 8-K this afternoon that it adjourned its extension vote today without concluding any business and will reconvene the special meeting at 12:30 pm ET March 3. ...READ MORE
DHC Acquisition Corp (NASDAQ:DHCA) announced in an 8-K this morning that it has come to agreements with one or more investors to not redeem 400,000 shares.
If these investors still hold these shares through the SPAC’s March 3 extension vote, they will receive 150,000 promote shares (1.9%) once DHC has consummated a business combination. ...READ MORE
Northern Star Investment Corp. III (NYSE:NSTC) and Northern Star Investment Corp. IV (NYSE:NSTD) announced in 8-K filings this morning that they have each added to the shares covered by non-redemption agreements as they work to extend their transaction deadlines. ...READ MORE
Oxus Acquisition Corp. (NASDAQ:OXUS) has adjourned its extension vote today without conducting any business and will reconvene at 8:30 am ET March 2.
Shareholders are to consider extending the SPAC’s transaction deadline from March 8 to December 8 and allow the sponsor to convert its promote shares to Class A shares prior to the closing of a business combination. ...READ MORE
Northern Star Investment Corp. III (NYSE:NSTC) and Northern Star Investment Corp. IV (NYSE:NSTD) announced this morning that each has come to identical non-redemption agreements with shareholders.
Each agreement secures 250,000 shares from redemption for its respective SPAC. ...READ MORE
Colombier Acquisition Corp. (NYSE:CLBR) has entered into a definitive agreement to combine with values-based marketplace PublicSq at an enterprise value of $258 million.
PublicSq is developing an app-based marketplace for political conservatives in the US to seek out products aligned with their values. ...READ MORE
Atlantic Coastal (NASDAQ:ACAH) announced in an 8-K this afternoon that it has reached agreements with one or more investors not to redeem up to 200,000 shares in its upcoming extension vote. ...READ MORE
Armada I (NASDAQ:AACI) announced this morning that it has secured a $250 million equity subscription facility for its combination with adtech firm Rezolve.
Yorkville Advisors has agreed to fund the facility, under which Rezolve will have the option to issue up to $250 million in shares for Yorkville to purchase over the first three years following the close of the business combination. ...READ MORE
BurTech Acquisition Corp. (NASDAQ:BRKHU) announced that it has entered into a letter of intent (LOI) to potentially combine with sustainable natural gas producer CleanBay Renewables.
The deal would value CleanBay at $330 million and the parties expect to reach terms on a definitive agreement in the second quarter of 2023. ...READ MORE
Oxus Acquisition Corp. (NASDAQ:OXUS) has entered into a definitive agreement to combine with foodtech company Borealis at an enterprise value of $150 million.
Oakville, Ontario-based Borealis has developed a line of plant-based ramen noodle products, which it produces through a US-based manufacturing subsidiary. ...READ MORE
Anzu Special Acquisition Corp I (NASDAQ:ANZU) announced in an 8-K this morning that it has entered into extension support agreements effectively backstopping up to 3,311,894 shares through its February 28 extension vote. ...READ MORE
Canadian oil and gas producer Hammerhead Resources announced this afternoon that it has completed its combination with Decarbonization Plus IV (NASDAQ:DCRD).
The combined company’s shares and warrants are expected to begin trading on the Nasdaq under the symbols “HHRS” and “HHRSW”, respectively, on February 27. ...READ MORE