Just when you think things might be starting to quiet down, we get a news release announcing another shakeup in the SPAC landscape. ...READ MORE
It’s Happy Hour somewhere, but for New York, it’s still a little on the early side, so maybe let’s go with a boozy Friday lunch and see what it turns into to. ...READ MORE
As has been previously discussed, SPACs are having a helluva year. 2019 has already seen 37 SPACs price their IPOs raising $8.7 billion in gross proceeds, which is a 35% increase over 2018 during the same time period. ...READ MORE
This morning, Silver Spike Acquisition Corp. (SSPKU), the $250 million cannabis-focused SPAC, filed a new amended S-1. The only material change noted is the duration was adjusted down from 24 months to 18 months. ...READ MORE
This afternoon, Pensare Aquisition Corp. (WRLS), finally released the details of their shareholder vote to approve extending their deadline from August 1, 2019 to December 1, 2019. As expected, it was a nearly complete redemption of the trust account. ...READ MORE
Black Ridge Acquisition Corp. (BRAC), issued a proxy supplement this morning, ahead of its shareholder vote this coming Friday, August 9th. Contained within that supplement were some additional changes to the merger agreement, but the good news is, Black Ridge also announced that “…it may explore effectuating amendments to its outstanding warrants following the closing of the business combination to make them more attractive to holders“. ...READ MORE
Gordon Pointe Acquisition Corp. (GPAQ). announced late last Thursday evening that it had entered into a non-binding Agreement in Principle to merge with an affiliate of HOF Village, LLC (“The Hall of Fame Village”, “HOFV”), a sports, entertainment and media company founded by the Pro Football Hall of Fame. ...READ MORE
DD3 Acquisition Corp. (DDMX), announced this morning that they have entered into a definitive agreement to merge with Betterware de Mexico (“Betterware”), a direct-to-consumer selling company in Mexico, focused on the home solutions and organization segment. ...READ MORE
DD3 Acquisition Corp. (DDMX), announced this morning that they have entered into a definitive agreement to merge with Betterware de Mexico (“Betterware”), a direct-to-consumer selling company in Mexico, focused on the home solutions and organization segment. ...READ MORE
Note: Only a press release was provided tonight, but additional presentation materials are noted in the release to be forthcoming (presumably tomorrow). As such, the below is a short excerpt with additional analysis to be provided once the slides are filed. ...READ MORE
Capitol Investment Corp. IV (CIC) and Nesco Holdings I, Inc. (“Nesco”), a provider of specialty rental equipment to the electric utility, telecom and rail end-markets, announced today the closing of their merger. ...READ MORE
Carol Anne Huff, from Kirkland & Ellis, is back, once again, to help provide some much needed clarity on the recent Nasdaq rule changes that are set to go into effect starting next Monday, August 5th. ...READ MORE
New Frontier Corp. (NFC), announced this morning that they have entered into a definitive agreement to acquire United Family Health (“UFH”), an integrated premium private healthcare operator in China, to create one of China’s largest publicly listed integrated healthcare services company. ...READ MORE
In the least surprising news of the the week (so far), Modern Media Acquisition Corp. (MMDM), filed a new Preliminary Proxy/F-4 this morning and included within it was the news of an intended PIPE financing to be done at $8.00. ...READ MORE
Pensare Aquisition Corp. (WRLS) announced this morning that they intend to adjourn today’s extension vote. Instead, the vote will be held tomorrow, July 31st, at which, shareholders will be asked to approve a four-month extension of their deadline to December 1, 2019. ...READ MORE
Leo Holdings Corp. (LHC), and Queso Holdings, Inc., the parent company of CEC Entertainment, Inc. (Chuck E. Cheese), announced this morning that they have mutually terminated their business combination agreement. ...READ MORE
Early this afternoon, Gordon Pointe Acquisition Corp. (GPAQ), released the details of their shareholder vote to approve their extension deadline to October 31, 2019, from July 30, 2019. As a result, the Company’s Sponsor will be contributing $0.10 to the trust account for each public share that was not redeemed. ...READ MORE
In very surprising news, Switchback Energy (SBE.U), the $300 million energy SPAC, underwritten by Goldman Sachs, Citigroup and Credit Suisse, opened today at $9.95. ...READ MORE
KBL Merger Corp. IV (KBLM), announced this morning that they have now signed a definitive agreement with CannBioRx Life Sciences Corp. (“CannBioRx”), with which they had previously announced an LOI agreement. ...READ MORE
Ahead of Pensare’s scheduled July 30th extension vote, Pensare Acquisition Corp. (WRLS), announced this morning that they have entered into a definitive agreement to combine with Stratos Management Systems, Inc. ...READ MORE