This morning, Health Sciences Acquisitions Corp. (HSACU) filed for a $100 million, RTW Investments-backed SPAC focusing on BioPharma and Med Tech companies in North America and Europe. For those not familiar with RTW, they are a $1.9 billion investment firm focused on both public and private investments in the health/life sciences sectors. ...READ MORE
Twelve Seas Investment Company (BROG), announced this morning that they have entered into a business combination agreement to combine with Brooge Petroleum and Gas Investment Company (“BPGIC”), a United Arab Emirates (UAE) company in the oil storage and services business. ...READ MORE
Tonight we had a surprise filing from Jeff Sagansky with the debut of his fifth “Eagle” SPAC, Diamond Eagle. Diamond Eagle is a $350 million IPO, but we don’t really know much more than that just yet (there are a lot of blanks). ...READ MORE
This morning, we had another new SPAC filing to add to the SPAC coffers with AGBA Acquisition Limited, a $40 million IPO. AGBA (whose letters are most likely an acronym of…something, but inevitably, you just wind up calling it “Aggg-Buhh”), will be focusing on businesses in China. ...READ MORE
Below is the follow-up to the article that was published last week detailing Nasdaq’s proposed changes to its listing requirements. This time around, we focus on how the proposed changes could potentially impact SPAC combinations going forward should these listing standards become the new norm. ...READ MORE
B. Riley Principal Merger Corp. (BRPM.U), announced the pricing of their $125 million SPAC IPO this morning and the units are expected to begin trading today, April 9th, under the symbol NYSE: BRPM.U. ...READ MORE
Leo Holdings Corp. (LHC), announced this morning that they have entered into a definitive business combination agreement with CEC Entertainment, Inc. (“CEC”), the owner, operator, and franchisor of the Chuck E. ...READ MORE
Capitol Investment Corp. IV (CIC), announced this morning that they have entered into a definitive agreement to combine with Nesco Holdings I, Inc. (“Nesco”), a provider of specialty rental equipment to the electric utility, telecom and rail end-markets. ...READ MORE
Friday evening saw Act II Global Acquisition Corp. file for a $250 million SPAC IPO and it was the first new SPAC filing in roughly three weeks. SPACs come in waves, so if the past is any indicator, expect a few more new filings in the next week or two to give Act II a run for their money (literally). ...READ MORE
As many of you may or may not know, the SEC published the Nasdaq’s proposed changes to their listing requirements Wednesday and it is most certainly a reaction to the wild price swings of low-float stocks, such as Phunware (PHUN) and Hunter Maritime (HUNT). ...READ MORE
B. Riley Principal Merger Corp. (BRPM.U) re-filed their S-1 tonight and amended a few important terms. Of note, the SPAC life dropped to 18 months from their previously stated 24 months. ...READ MORE
Replay Acquisition Corp. (RPLA.U), announced the pricing of their $250 million SPAC IPO this evening and the units are expected to begin trading tomorrow, April 4th, under the symbol NYSE: RPLA.U. ...READ MORE
Replay Acquisition Corp. (RPLA.U), is getting set to price their $250 million Brazil/Argentina-focused SPAC tonight, with an 8-a12b filing along with their CERT. Replay will be the first SPAC out of the gate for Q2, but both B. ...READ MORE
To kick off the quarter, we have three SPACs currently getting ready to IPO and since SPACs tend to price in groups, another “comparison of terms” seemed warranted. To state the obvious, we’re going to call these three the “Q2 Kickoff SPACs”. ...READ MORE
Methodology:
In addition to the traditional methodology used whereby any bookrunner or lead manager gets full credit for IPO size to calculate deal volume, starting last quarter we added two new columns to the rankings - volume by number of units sold and volume sold % market shares (highlighted in green). For example, if SPAC-XYZ raised $500 million at IPO, and underwriter A sold $400 million of the same deal and underwriter B sold only $100 million, that’s how they will be credited. This methodology gives a more accurate window into the actual deal volume.
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Methodology: Each law firm is given full credit for the IPO size to calculate Deal Volume. Additionally, Deal Count is further broken out into Issuer's Counsel and Underwriter's Counsel to give greater visibility into into legal assignments. All data is initially sorted and ranked by Deal Volume, but each column is further sort-able by clicking on the arrow keys in the header cell of each column.
Wedneday evening, Tuscan Holdings Corp. (THCBU), debuted their $200 million SPAC focused on the cannabis industry and will be led by Stephen Vogel, as Chairman and CEO. ...READ MORE
Hunter Maritime, which is currently in the process of trying to complete their business combination with NCF Wealth Holdings Limited, announced that they have commenced a tender offer to purchase up to 2,173,750 of its Class A common shares at a purchase price of $10.215 per share. The ...READ MORE
Sentinel Energy Services announced this morning it has mutually terminated its transaction agreement with Strike Capital, LLC. The reason cited being market conditions.
The Energy sector has had a tough go of it since the Fall, so this announcement is somewhat unsurprising. ...READ MORE
Acamar Partners refiled their S-1 tonight and looks to be getting ready to IPO next week. However, there was one important change to Acamar’s terms – they added the Crescent Term with a threshold of $9.20. ...READ MORE