Friday Happy Hour Update: Two New SPACs + BRAC

And one of the new SPACs has a 1/4 warrant… this is BIG news.

In the interest of it being the happiest of hours…a brief summary has been provided below.  A more thoughtful analysis will be provided later. ...READ MORE

Orisun Acquisition Corp. Files for $40M SPAC IPO

We had yet another new SPAC filing on Wednesday evening, with the addition of Orisun Acquisition Corp. (ORSNU), a $40 million SPAC IPO focused on what the team is calling the “High Tech” sector.  ...READ MORE

Winner of the 2019 SPACInsider Underwriters League Tournament

Congratulations to BofA Merrill Lynch!

BAML is the 2019 SPACInsider Underwriters League Tournament Champion!

As winner, BAML will be receiving the SPACInsider Underwriters League Champion Award, sponsored by Refresh Creations.

(Below is a picture of last year’s award. ...READ MORE

2019 FINALS: Underwriters League Tournament Championship Round!

FINALS: GET YOUR VOTES IN!!

After some HEAVY voting last night (and I mean, HEAVY), BofA Merrill Lynch and BTIG won their battles to move into the final round. (Seriously, twice the amount of votes as Round Two). ...READ MORE

Churchill Capital Corp. II Prices $600M IPO

Churchill Capital Corp. II (CCX.U), announced the pricing of their upsized $600 million SPAC IPO this evening.  Churchill II’s units are expected to begin trading tomorrow, June 27th, under the symbol NYSE: CCX.U. ...READ MORE

Black Ridge Acquisition Corp. Gets Another $5M Backstop

This afternoon, Black Ridge Acquisition Corp. (BRAC), announced that they have entered into a Letter Agreement for another $5 million backstop in addition to their previous $5 million backstop with TV Azteca. ...READ MORE

Churchill II Supersizes Their SPAC

Increases Deal Size to $600 Million.

Churchill Capital Corp. II, filed an amended prospectus this afternoon, increasing their deal size to $600 million.  Demand has been BIG for this deal, so an upsize this large is completely do-able. ...READ MORE

2019 UWs Tournament: Final Four Update

THE FINAL FOUR!

It’s only 12:30PM, but voting was heavy this morning and BofA and Stifel came out strong.  However, both matches are now neck and neck with Deutsche Bank and BTIG fighting their way back into contention!  ...READ MORE

2019 UWs League Tournament: The Final Four!

THE FINAL FOUR!

It was another close day yesterday with Deutsche Bank and Citigroup battling it out all evening, but Deutsche Bank slowly climbed back after a slow start and managed to pull out a last minute victory again with a 51% to 49% win. ...READ MORE

Pensare (WRLS) Announces Intent to Extend to December 1st

With No Additional Contribution to Trust…

Pensare Aquisition Corp. (WRLS) announced this afternoon, via a new proxy, that they are proposing to further extend their deadline to December 1, 2019.  ...READ MORE

2019 UWs League Tournament Mid-day Update:

The Elite Eight Matches

Voting in all matches broke out fast this morning and we now have four clear leaders, but things can change very quickly, as we saw yesterday. Plus, keep in mind that its the total number of votes throughout the entire tournament that counts and as we’ve seen, players are getting strategic – only voting for one team or voting against other teams they might have to match-up against next round. ...READ MORE

Let’s Talk About SC Health’s Warrant Backstop

Did anyone catch the term in SC Health’s new SPAC filing on Friday?  If you didn’t, SC Health added an interesting twist for warrant holders. Essentially, this SPAC will be backstopping the warrants at $1.00 in the event of a liquidation.  ...READ MORE

Churchill Capital Corp. II Pricing Their $400 Million SPAC Thursday

Churchill Capital Corp. II (CCX.U), which filed a new S-1/A this morning, is expected to price their $400 million SPAC Thursday evening, for trading Friday, June 28th.  Michael Klein, will once again be leading as Chairman of the Board of Directors along with his deep bench of “Operating Partners“. ...READ MORE

2019 Underwriters League Tournament – We’re Down to the Elite 8!

It’s actually the “Nimble Nine”.  We had an unanticipated TIE!

There aren’t any really good, descriptive “N” words and “nice” seems…wrong.  “Nimble” will have to do unless anyone has a better suggestion.  ...READ MORE

2019 Underwriters Tournament Update: We Might Have Some Upsets…

Tournament Update of the SPAC Sixteen Matches

We currently have no less than three matches that are evenly tied!  As expected, the match up between BofA and Jefferies has been back and forth all morning and is now back at dead even.  ...READ MORE

News Alert: NRC Group (Hennessy III) Announces Merger for $12.00/share

US Ecology and NRC Group Agree to Merge

NRC Group (NRCG), formerly Hennessy Capital Acquisition Corp. III, which was Daniel Hennessy’s third SPAC, announced this morning that it has entered into a definitive merger agreement with US Ecology, Inc. ...READ MORE

2nd Annual 2019 SPACInsider Underwriters League Tournament is Open!

VOTE FOR YOUR UNDERWRITERS!

In light of the forthcoming second quarter and first half of 2019 league tables being published next week, SPACInsider is once again holding the Underwriter’s League Tournament!  ...READ MORE

SC Health Corporation Files for a $150M IPO

This afternoon, we had another new SPAC filing. This latest one is the $150 million SC Health Corporation (SCH.U), and will be led by David Sin, as Chairman, and AJ Coloma, as CEO and Director nominee. ...READ MORE

SPACs and Personal Liability for Teams. What’s the Risk?

Given just how many SPACs we have in the market right now (and with a few trading pretty strangely), we spoke with Andrew Pendergast, at Marsh, a provider of D&O insurance, to help get a better sense of the risks associated with being part of a SPAC team.  ...READ MORE