Chardan Healthcare Acquisition Corp. (CHAC), recently announced that its shareholders have approved their business combination with BiomX Ltd. (“BiomX”), a microbiome company developing both natural and engineered phage therapies. More than 97% of the shares voted today were voted in favor of the proposed transaction with BiomX. ...READ MORE
Early this morning, Legacy Acquisition Corp. (LGC), released the details of their shareholder vote to approve their new extension deadline and 100% of the shares that voted, voted “Yes”. Additionally, only 694,820 shares elected to redeem. ...READ MORE
Last night, we had another new IPO filing with GreenVision Acquisition Corp., a $50 million life sciences/healthcare focused SPAC that will be looking for companies primarily in China, but in Asia and North America as well. ...READ MORE
Greenland Acquisition Corp. (GLAC) filed an 8-K this evening announcing the termination of $5 million of their $6 million PIPE/Backstop agreement. ...READ MORE
Trident Acquisitions Corp. (TDAC), filed a preliminary proxy this morning to extend their completion deadline a full six months from December 1, 2019, to May 29, 2020. The vote will be held on November 26th, with a Record Date of October 31st, but there’s a big asterisk here…
First up, Trident will not be contributing any additional funds to trust to extend. ...READ MORE
Friday evening, we had SPAC #51 for the year file for IPO with Juniper Industrial Holdings, Inc. (JIH.U), a $300 million SPAC focused on the industrial sector. Juniper will be led by by Roger Fradin, as Chairman and CEO, and Brian Cook, as CFO and Director. ...READ MORE
Greenland Acquisition Corp. (GLAC), announced today that they had adjourned their shareholder vote to complete their combination with Zongchai Holdings. The new shareholder vote date will be on Thursday, October 24th. ...READ MORE
Union Acquisition Corp. II (LATNU), announced the pricing of their $175 million SPAC IPO this evening. Union II’s units are expected to begin trading tomorrow, Friday, October 18th, under the symbol NASDAQ: LATNU. ...READ MORE
Galileo Acquisition Corp. (GLEO.U), announced the pricing of their upsized $120 million SPAC IPO this evening. Galileo’s units are expected to begin trading tomorrow, Friday, October 18th, under the symbol NYSE: GLEO.U. ...READ MORE
A quick note on TKK Symphony (TKKS) and this morning’s announcement of their Tender Offer since there seems to be some confusion out there around why TKKS is not doing a standard shareholder vote and redemption. ...READ MORE
This afternoon, Pure Acquisition Corp. (PACQ), released the results of its warrant tender offer and warrant holders overwhelmingly said, “Nah. Let’s wait.”
Of Pure’s 20,700,000 outstanding Public Warrants, only 248,000 opted to Tender for $1.00 per Warrant, or just 1.2%. ...READ MORE
In no particular order, the below is a round-up of current SPAC news. ...READ MORE
This afternoon, Pure Acquisition Corp. (PACQ), released the results of their shareholder vote to approve their new extension deadline from October 17th, 2019 to February 17, 2020, however there wasn’t a lot of detail included in the 8-K. ...READ MORE
Chardan Healthcare Acquisition Corp. (CHAC) filed an 8-K on Friday evening announcing a number of amendments to their merger agreement with BiomX Ltd. The details, of which, are the following:
Late Friday evening, we had a second SPAC file for IPO with FinServ Acquisition Corp. (FSRVU). FinServ is a $200 million financial services and fintech-focused SPAC being led by Lee Einbinder, who is the former Vice Chairman of Barclays. ...READ MORE
Friday evening, the Osprey team filed their second SPAC with the $250 million Osprey Technology Acquisition Corp. (SFTW.U). Osprey Tech will be focused on the technology sector and in particular, Software-as-a-Service companies (SaaS). ...READ MORE
Updates in blue, below:
Tiberius Acquisition Corp. (TIBR), announced very late last night that it had signed a definitive agreement to combine with International General Insurance Holdings Ltd. (“IGI”). IGI is an A (Excellent) AM Best rated international specialist (re)insurer underwriting a worldwide portfolio of energy, property, construction & engineering, ports & terminals, financial institutions, casualty, legal expenses, general aviation, professional indemnity, marine liability, political violence, forestry and reinsurance treaty business through its presence in Bermuda, London, Amman, Dubai, Labuan and Casablanca. ...READ MORE
Just when you thought Gig was done making arrangements to close their combination……nope. They’re back with another. This time with Glazer Capital, LLC (“Glazer”). This new, non-binding LOI with Glazer is similar to yesterday’s non-binding LOI with Nomura, with a few tweaks. ...READ MORE
We’ve talked before about how challenging the de-SPACing process is and the importance of marketing a combination. Specifically, if sector/long-only investors do not know a SPAC combination exists, how will they ever know they want to own the stock? ...READ MORE
We have more Gig news….and for the record, there has been a Gig announcement nearly every day for the past week as it moves towards closing its combination with Kaleyra. Yesterday’s news, however, involves a non-binding letter of intent with an affiliate of Nomura Securities International, Inc. ...READ MORE