Jaws Acquisition Corp., the debut SPAC from Barry Sternlicht, filed to IPO last night, signaling to everyone that we’re going to need a bigger boat. As has been the trend, this is another SPAC with mass, weighing in at $400 million, but there is always the potential for an upsize and a full over-allotment. ...READ MORE
B. Riley Principal Merger Corp. II (BMRG.U), filed their follow-up $200 million SPAC last Thursday, April 23rd, in a week that officially marked that SPACs were back in business. Once the IPO machine gets cranking, it hits top speed pretty quickly, so expect to see more deals get filed shortly. However, ...READ MORE
Social Capital Hedosophia Holdings Corp. II (IPOB.U), announced the pricing of their upsized $360 million SPAC IPO this evening and the units are expected to begin trading tomorrow, Tuesday, April 28th, under the symbol NYSE: IPOB.U. ...READ MORE
Pure Acquisition Corp. (PACQ), announced this afternoon, in an expected move, that it had terminated its transaction with HighPeak Energy. The decision was mutual and is effective as of April 24, 2020. ...READ MORE
CC Neuberger Principal Holdings I (PCPL.U), announced the pricing of their upsized $360 million SPAC IPO this evening and the units are expected to begin trading tomorrow, Friday, April 24th, under the symbol NYSE: PCPL.U. ...READ MORE
Chardan Healthcare Acquisition 2 Corp. (CHAQ.U), announced the pricing of their $85 million SPAC IPO this evening and the units are expected to begin trading, tomorrow, Friday, April 24th, under the symbol NYSE: CHAQ.U. ...READ MORE
Diamond Eagle Acquisition Corp. (DEAC), just released an 8-K detailing the results of their shareholder vote to combine with DraftKings and SBTech, and naturally, this combination was overwhelmingly approved. However, even though DEAC has been trading in the $17.00 range, there were still a few redemptions. ...READ MORE
Leo Holdings Corp. (LHC), announced today that they have signed a definitive business combination agreement with Digital Media Solutions Holdings, LLC (“DMS”). The Business Combination will introduce DMS to the equity capital markets as a publicly listed company with a total enterprise value of $757 million or 13.2x the Company’s fiscal year 2020 expected Adjusted EBITDA of $57 million and 10.0x the Company’s fiscal year 2021 expected Adjusted EBITDA of $75 million. ...READ MORE
Social Capital Hedosophia Holdings Corp. III (IPOC.U), announced the pricing of their upsized $720 million SPAC IPO this evening and the units are expected to begin trading tomorrow, Wednesday, April 22nd, under the symbol NYSE: IPOC.U. ...READ MORE
Well, well, well…..looks like Social Capital Hedosophia, will beat Chardan Healthcare 2 to the punch by being the first IPO out the door post-Covid lockdown. Social Capital Hedosophia intends to price the larger of their two deals tonight (IPOC.U), ...READ MORE
Legacy Acquisition Corp. (LGC), announced this morning that they intend to adjourn their shareholder vote to combine with Blue Impact, originally scheduled to be held this Thursday, April 23rd. The new date will be Monday, May 18, 2020, while keeping the record date of March 20, 2020. ...READ MORE
It seems Alberton will NOT be providing an additional $60,000 per month contribution. Rather, it’s in lieu of the original $0.02 per month contribution. This changes things considerably….
So now it’s back to game theory again. ...READ MORE
This afternoon, Graf Industrial Corp. (GRAF), released the details of their shareholder vote, held today, to approve moving their previously extended deadline from April 16, 2020, to July 31, 2020.
Per the 8-K, 12,921,275 public shares exercised their right to redeem at a price of approximately $10.23 per share and as a result, roughly $132.2 million was removed from the trust account, or about 53%. ...READ MORE
As expected, Diamond Eagle Acquisition Corp. (DEAC), announced this evening that they had adjourned their previously scheduled shareholder vote to combine with DraftKings and SBTech, originally scheduled to be held today, to April 23rd. ...READ MORE
This evening, in a very surprisingly timed announcement, Graf Industrial Corp. (GRAF), announced it is in “negotiations” to combine with a polypropylene recycling company. GRAF is currently scheduled to hold an extension vote on April 16th, to extend to July 31st, 2020, so this is a teaser for shareholders who are considering redeeming at next week’s vote. ...READ MORE
Fellazo Inc. (FLLC), which was recently de-listed from the Nasdaq, announced this afternoon that it would be opting to liquidate its trust and wind down the company. The reason given was not due to Covid-19, but rather, Fellazo stated, “…in view of the recent determination by the Nasdaq hearing panel to delist the Company’s securities from The Nasdaq Stock Market, the Company does not believe it will be able to consummate an initial business combination within the time period required…“
Fellazo had previously provided an update via a press release whereby the Company said it was exploring various alternatives in light of the de-listing, including liquidation, so this is not a total surprise. ...READ MORE
This afternoon, KBL Merger Co. IV (KBLM), released the details of their shareholder vote, held today to approve moving their previously extended deadline from April 9, 2020, to July 9, 2020. ...READ MORE
Diamond Eagle Acquisition Corp. (DEAC), which originally intended to hold their shareholder vote tomorrow to complete their combination with DraftKings and SBTech, amended their Business Combination Agreement yesterday. ...READ MORE
This is an especially slow week. We have Passover beginning on Wednesday, then Good Friday, followed by Easter at the end the week. So normally this would be a quiet time to begin with, but throw in a global pandemic and you would be hard pressed to find much of anything going on in SPAC Land right now. ...READ MORE
Pure Acquisition Corp. (PACQ), announced the results of its warrant tender this afternoon and as expected, a significant number of warrant holders opted to tender at this go-around. If you recall, Pure previously tendered its warrants twice before, both times for $1.00, same as for the current tender offer. ...READ MORE