South Mountain Merger Corp. (SMMCU), filed their 8-a12b and their CERT today, indicating they are getting ready to price their $200 million fintech-focused SPAC, or more specifically, “…on businesses that will benefit from the rapidly evolving payment ecosystem…”. ...READ MORE
Akerna Corp., née MJ Freeway, née MTech Acquisition Corp., still hasn’t disclosed the number of shares redeemed in their recent combination vote, although we have already inferred that there were probably a significant amount of shares redeemed. ...READ MORE
Black Ridge Acquisition Corp. (BRAC) filed a new preliminary proxy this morning, switching their previously scheduled shareholder vote to complete their combination with Allied Esports, to an extension vote. In fact, BRAC had filed a definitive proxy for their combination vote as recently as last Wednesday, June 12th, with a vote date of June 28th. ...READ MORE
This afternoon, MTech Acquisition Corp. (MTEC), announced that they have closed their business combination with MJ Freeway, LLC, a leading seed-to-sale regulatory compliance technology provider and developer of the cannabis industry’s first enterprise resource planning (ERP) platform. ...READ MORE
We only have two full weeks left in the second quarter and you know what that means….Not only do we have second quarter and first half of 2019 league tables to look forward to, but next week begins the Second Annual SPACInsider Underwriter’s League Tournament! ...READ MORE
Well, this is strange. Right on the heels of what appeared to be a successful SPAC combination announcement for TPG Pace Holdings, Clairvest Equity Partners V (“Clairvest”), a large minority shareholder of Accel Entertainment, announced tonight via press release that they DO NOT consent to the business combination between TPG Pace Holdings and Accel. ...READ MORE
TPG Pace Holdings Corp. (TPGH), announced Thursday morning that they have entered into a definitive business combination agreement with Accel Enterntainment, Inc., a gaming-as-a-service provider. The combined company will retain the Accel Entertainment name and will be a publicly listed company with an anticipated initial enterprise value of approximately $884 million. ...READ MORE
MTech Acquisition Corp. (MTEC), announced today that they have raised an extra $2.2 million as part of their previously announced private placement. ...READ MORE
This evening, The Churchill Team (minus one key member) debuted their second SPAC with Churchill Capital Corp. II, a $400 million IPO. For this go around, Churchill II will have a broad focus and will once again be led by Michael Klein, as Chairman of the Board of Directors. ...READ MORE
Modern Media Acquisition Corp. (MMDM), announced this morning that they are moving the date of their shareholder vote forward two days to June 14th, and are now asking for a three-month extension, not two months. ...READ MORE
Haymaker Acquisition Corp. II (HYACU), announced the pricing of their surprise upsized $350 million SPAC IPO this evening. Haymaker II’s units are expected to begin trading tomorrow, June 7th, under the symbol Nasdaq: HYACU. ...READ MORE
This afternoon, KBL Merger Co. IV (KBLM), released the details of their shareholder vote to approve their extension deadline to September 9, 2019, or December 9, 2019, if the Company has executed a definitive agreement. ...READ MORE
MTech Acquisition Corp. (MTEC), announced today that they have arranged a $7 million PIPE in anticipation of their upcoming shareholder vote to approve their business combination with MJ Freeway LLC. As part of the transaction, 685,599 shares of Class A common stock will be issued in the private placement at $10.21 per share, however, MTech also stated they may issue up to an additional 799,907 shares of Class A Common Stock in subsequent transactions. ...READ MORE
GigCapital2, Inc. (GIX.U), after a few pricing delays and a last minute change in terms, announced this morning that not only have they priced their IPO, but they also managed to upsize a full $20 million to $150.0 million in gross proceeds raised. ...READ MORE
This morning, GigCapital, Inc. (GIG), released the details of their shareholder vote to approve their extension deadline to December 12, 2019, from June 12, 2019. As a result, the Sponsor and Founders will be contributing $240,000 to GigCapital’s Trust account for each calendar month that is needed to complete their business combination with Kaleyra. ...READ MORE
I had a recent conversation about this topic with a buy side investor that came about because we were both sort of lamenting the marketing efforts of some SPACS at the de-SPACing phase. ...READ MORE
Gordon Pointe Acquisition Corp. (GPAQ) announced this afternoon that they need an additional three-months time to complete their acquisition, and as such, they will be offering $0.10 per share to trust for every share not redeemed at their extension vote. ...READ MORE
Pensare Aquisition Corp. (WRLS) announced this afternoon that the Company’s sponsor will reduce its contributions to the trust account so that the total monthly payment will be no greater than $200,000. ...READ MORE
This afternoon, GigCapital2 (GIX.U), the second SPAC effort led by Avi Katz, re-filed their S-1 and amended their terms ahead of their expected IPO pricing next week. Gig2, which is a $130 million TMT focused SPAC, has now added a Right to its Unit and reduced it’s life from 21 months to 18. ...READ MORE
Constellation Alpha Capital Corp. (CNAC) announced this afternoon that they have signed a definitive agreement with DermTech Inc., a molecular genomics company with an initial focus on skin cancer. ...READ MORE