This morning, New Frontier Corp. (NFC), announced that shareholders have approved their business combination with United Family Healthcare to form New Frontier Health Corporation (“NFH”). Approximately 96.4% of the shares voted were voted in favor of the business combination, representing 89.4% of all outstanding shares of NFC. ...READ MORE
This morning, Pivotal Acquisition Corp. (PVT), announced that they had adjourned their shareholder vote to complete their combination with KLDiscovery. ...READ MORE
Twelve Seas Investment Company (“Twelve Seas”) (NASDAQ: BROG), announced this evening that ahead of their shareholder vote to complete their combination with Brooge Petroleum and Gas Investment Company FZE (“BPGIC”), they have agreed to irrevocably waive the condition to closing contained in the Business Combination Agreement dated April 15, 2019 which requires the Closing Net Cash to be at least $125,000,000. ...READ MORE
LIV Capital Acquisition Corp. (LIVKU), announced the pricing of their up-sized $70 million SPAC IPO this evening. LIV’s units are expected to begin trading, tomorrow, Wenesday, December 11th, under the symbol Nasdaq: LIVKU. ...READ MORE
GS Acquisition Holdings (GSAH), announced this morning that they have signed a definitive agreement to combine with Vertiv Holdings LLC, a Platinum Equity portfolio company, and a global provider of critical digital infrastructure and continuity solutions. ...READ MORE
Boxwood Merger Corp. (BWMC), which was scheduled to hold their special meeting for shareholders to vote on Boxwood’s combination with Atlas Intermediate, this Thursday, December 12th, has announced that it will be adjourning that meeting and rescheduling for January 9th, 2020. ...READ MORE
Monocle Acquisition Corp. (MNCL), announced this morning that they have signed a definitive agreement to combine with AerSale, a global provider of aviation aftermarket products and services.
Upon completion of the combination, AerSale Corporation will become a Nasdaq-listed public company, with an implied enterprise value of approximately $430 million, equating to approximately 6.3x AerSale’s forecasted 2020 Adjusted EBITDA. ...READ MORE
This afternoon, KBL Merger Co. IV (KBLM), released the details of their shareholder vote to approve moving their extension deadline from December 9, 2019, or April 9, 2020. The extension was approved, but KBLM had a heavy number of redemptions. ...READ MORE
New Frontier Corp. (NFC), filed additional documents this morning announcing that they have increased the size of their equity commitments associated with their combination with United Family Health (“UFH”).
Previously, New Frontier had secured a $711 million PIPE (71,148,186 shares at $10.00 per share) to help fund the $1.3 billion purchase price of UFH and provide working capital to the Company. ...READ MORE
Late yesterday evening, we had an early stocking stuffer with the IPO filing of Gores Holdings IV, a $400 million, 1/4 warrant SPAC. So does this mean we’ve been naughty or nice? ...READ MORE
For subscribers that have a Database Subscription, a new table has been added and you can now find it under the main SPACs tab: Vote Redemptions.
On the new page you will find a detailed table showing each SPAC’s redemptions at all of the extension votes as well as the completed vote. ...READ MORE
Regalwood Global Energy Ltd. (RWGE), announced this afternoon that it will be redeeming all of its outstanding Class A ordinary shares, effective as of December 16, 2019. Net of taxes and dissolution expenses, the per-share redemption price for the public shares is expected to be approximately $10.37. ...READ MORE
This afternoon, Leisure Acquisition Corp. (LACQ), released the details of their shareholder vote to approve extending their deadline four months from December 5, 2019 to April 5, 2020. ...READ MORE
TKK Symphony Acquisition Corporation (TKKS) today announced that it would be further extending the expiration of its tender offer to purchase up to 25,000,000 shares at a purchase price of $10.26. ...READ MORE
We’ve had another SPAC combo leak today, this time it’s regarding the $690 million GS Acquisition Holdings (GSAH) and Vertiv, a portfolio company of Platinum Equity.
Does Platinum Equity ring a bell? ...READ MORE
Early this morning, Legacy Acquisition Corp. (LGC), filed a number of new documents, including a new preliminary proxy for their combination vote and a new presentation. However, also filed was an 8-K that announced Legacy will pursue the possibility of effecting a tender offer for all its outstanding warrants post-business combination close. ...READ MORE
Pure Acquisition Corp. (PACQ), announced this morning that it has entered into a Business Combination Agreement with HighPeak Energy, Inc., and a Contribution Agreement with Grenadier Energy Partners II, LLC (“Grenadier”). ...READ MORE
Andrew Pendergast, from Marsh, is back again to help further explain a SPAC team’s insurance needs. This time, he’ll walk us through what teams should be considering from pre-bid diligence all the way through post-combination closing. ...READ MORE
Yesterday afternoon, Healthcare Merger Corp. (HCCOU), filed their $200 million SPAC, focusing on businesses in the healthcare industry and will be sponsored by MTS Health Partners, L.P., or MTS, an Investment Banking firm focused exclusively on the healthcare sector. ...READ MORE
Alussa Energy Acquisition Corp. (ALUS.U), announced the pricing of their upsized $250 million SPAC IPO this evening. Alussa’s units are expected to begin trading, tomorrow, Tuesday, November 26th, under the symbol NYSE: ALUS.U. ...READ MORE