Merida Merger Corp. I Files $100 Million SPAC

This morning, Merida Merger Corp. I (MCMJU). filed for a $100 million cannabis-focused SPAC, bringing the count to six for the number of SPACs we have on file to IPO.  ...READ MORE

GigCapital (GIG) Commences Tender Offer for Its Rights

GigCapital (GIG) announced this morning that it will be going forward with its cash tender offer for its Rights.  The offer is to purchase up to 14,873,256 Rights, which includes the 498,256 Rights included in the Founders Units, at a purchase price of $0.99 per Right, for a total aggregate purchase price of up to $14,724,523.44. ...READ MORE

LGL Systems Acquisition Corp. Files $125 Million SPAC

On Monday evening, we had another new IPO filing to round out the current four we have on file with LGL Systems Acquisition Corp., (DFNSU), a $125 million SPAC focused on the aerospace, defense and communications industries. ...READ MORE

GigCapital (GIG) Gets 3rd Rights Arrangement and a Backstop

For your daily Gig News, GigCapital (GIG) made yet another arrangement for both its Rights and its Shares, this time with Yakira Capital Management (“Yakira”). However, the real take-away here is that Gig now has three agreements that will effectively (if all three max out their purchases) remove the Rights from its Business Combination equation.  ...READ MORE

GigCapital (GIG) Corrects Rights Purchase Amount

In today’s Gig News (seriously, it feels like an 8-K is filed at least once a day lately), GigCapital (GIG) put out a new filing this morning correcting a typo in their previously released 8-K regarding the additional Forward Purchase Agreement with Kepos Alpha Fund L.P. ...READ MORE

Galileo Acquisition Corp. Files $100 Million SPAC

This afternoon, we had yet another new SPAC filing, making the count four (4) for deals on file to IPO.  Furthermore, that means that if all four price in October, we will match 2018’s deal count of 46. ...READ MORE

GigCapital (GIG) Gets Another Forward Purchase for its Rights

Gig Capital (GIG), announced this morning that they have entered into an additional Forward Purchase Agreement in regards to its Rights Shares, this time, with Kepos Alpha Fund L.P. (“Kepos”).  ...READ MORE

Health Sciences to Combine with Immunovant

Health Sciences Acquisitions Corp., the RTW Investments-backed SPAC focused on the biopharma/med-tech sector, announced their merger this morning with Immunovant Sciences, Ltd. (“Immunovant”), a clinical-stage biopharmaceutical company focusing on autoimmune diseases. ...READ MORE

Union Acquisition Corp. II – Back for Another SPAC

The team from Union Acquisition Corp. made a surprise filing on Friday with their second SPAC, Union Acquisition Corp. II (LATNU), a $175 million IPO focused, once again, on Latin America.  ...READ MORE

Stable Road Acquisition Corp. Files $150 Million Cannabis-Focused SPAC

Late Friday afternoon, we had two new IPO filings to replenish our previously dwindling supply of new issues. The first, Stable Road Acquisition Corp. (SRACU), is a $150 million cannabis-focused SPAC, being led by Brian Kabot, as Chairman and CEO.  ...READ MORE

Legacy Acquisition Corp. (LGC) Files Definitive Proxy to Extend

Contribution of $0.03 per month to Trust for shareholders that do not redeem.

Legacy Acquisition Corp. (LGC), the $300 million SPAC led by Edwin Rigaud, which recently announced its combination with Blue Impact Group, filed a definitive proxy this morning setting a shareholder vote date of October 22nd.  ...READ MORE

Friday Happy Hour Update: Gig Capital and DD3 + Two New IPO Filings

The Happiest of Hours is in full effect tonight with two updates.

In no particular order, the below is a round-up of current SPAC news.

GIGCAPITAL, INC. (GIG)

GigCapital, Inc. (GIG) filed an 8-K late this afternoon with some updates to its agreement with Greenhaven regarding its GIG Rights Shares.  ...READ MORE

GigCapital (GIG) Files Multiple Updates Tonight

Lots of Gig News Tonight…

Gig Capital (GIG) filed multiple documents tonight, so a summary of each has been provided below.

Termination Date Extended

Gig filed an 8-K tonight announcing that they have officially moved their Outside Date (when the Purchase Agreement can be terminated) from September 24, 2019 to December 12, 2019.  ...READ MORE

Alberton Acquisition Corp. (ALAC) Announces. Kinda….

Alberton Acquisition Corp. (ALAC), put out an 8-K this afternoon regarding the issuance of an unsecured promissory note for $1,148,800, but the entity to who it was issued was what tipped off that they had announced…..something.  ...READ MORE

BI Acquisition Corp. WITHDRAWS Registration Statement

So….uhhh, scratch that. BI Acquisition Corp. just withdrew their registration statement.  The IPO is off. 

Well that was fast. In a somewhat surprising move, it seems the team and underwriters decided to pull this deal entirely rather than amend terms.  ...READ MORE

GigCapital (GIG) Signs LOI to Clean Up Its Rights Shares

As many of you already know, Gig Capital (GIG), announced on Friday evening that they have entered into a non-binding letter of intent with Greenhaven Road Capital, whereby Greenhaven has agreed to not sell the Shares underlying the 5,482,694 the Rights it currently owns until the later of the sixtieth day (60) after the closing of the Business Combination or January 1, 2020 (the “Closing Date”).  ...READ MORE

BI Acquisition Corp. Files $200 Million SPAC

Late Friday afternoon, we had a new IPO filing with BI Acquisition Corp. (BIACU), a $200 million metals, mining and natural resources focused SPAC being sponsored by Bedrock Industries.  BI will be led by Alan Kestenbaum, as Executive Chairman of the Board, and David Cheney, as CEO and Director. ...READ MORE

TPG Pace Holdings (TPGH) Releases Extension Vote Info

Early this afternoon, TPG Pace Holdings Corp. (TPGH), released the details of their shareholder vote to approve their new extension deadline and the results were 100% in favor of extending.  ...READ MORE