Pensare Acquisition Corp. (WRLS), and U.S TelePacific Holdings Corp. dba TPx Communications (“TPx”), announced this evening that they have agreed to mutually terminate their Business Combination Agreement.
No further information was given, but Pensare did state that they intend to continue to pursue a business combination. ...READ MORE
KBL Merger Corp. IV (KBLM), filed a definitive proxy this morning for their upcoming shareholder vote to extend their termination date another six months. However, KBLM has further amended the proxy to now reflect a $0.0225 per month contribution for shareholders who do not redeem. ...READ MORE
GigCapital, Inc. (GIG) announced this afternoon that the Sponsor and Founders have agreed to contribute $240,000 to GigCapital’s Trust account for each calendar month that is needed to complete their business combination with Kaleyra. ...READ MORE
One Madison Corp. (OMAD), in anticipation of their upcoming shareholder vote to approve their combination with Ranpak Corporation (“Ranpak”), announced that they have arranged an additional $20 million PIPE and included new earn-out provisions for the Founder Shares held by the Sponsors and the Anchor Investors (affiliates of The Blackstone Group L.P.). ...READ MORE
This morning, Bison Capital Acquisition Corp. (BCAC), announced that it has closed its business combination with Xynomic Pharmaceuticals, Inc. (“Xynomic”). BCAC will be changing its name to Xynomic Pharmaceuticals Holdings, Inc. ...READ MORE
AGBA Acquisition Ltd. (AGBAU), announced the pricing of their $40 million SPAC IPO this morning and the units are expected to begin trading today under the symbol Nasdaq: AGBAU.
AGBA Acquisition Ltd, which will be focusing on businesses in China, will be led by Gordon Lee, as Chief Executive Officer, and Vera Tan, as Chief Financial Officer. ...READ MORE
KBL Merger Corp. IV (KBLM), released details this morning on their previously announced non-binding term sheet ahead of their June 5th extension vote. KBLM’s LOI with with CannBioRx Life Sciences Corp. ...READ MORE
This afternoon, Churchill Capital Corp. (CCC), released the details of their shareholder vote to approve their merger with Clarivate Analytics, and it’s pretty much what you would expect – a landslide. ...READ MORE
This morning, Churchill Capital Corp. (CCC), announced the closing of its merger with Clarivate Analytics. Details of the shareholder vote are yet to be filed, but it is anticipated that Clarivate will begin trading on the NYSE tomorrow, May 14, 2019, under the symbols CCC and CCC WS, for the Share and Warrant, respectively. ...READ MORE
Last night, the GigCapital team filed for their second SPAC with the $130 million GigCapital2, Inc. (GIX.U). Gig2 will be focusing on the technology, media and telecom sectors and will once again be led by Avi S. ...READ MORE
Diamond Eagle Acquisition Corp. (DEACU), just began trading in a surprise mid-day pricing of their $350 million SPAC IPO. The units are currently trading under the symbol Nasdaq: DEACU. However, there is no press release (as of yet). ...READ MORE
Health Sciences Acquisition Corporation (HSACU), announced the pricing of their $100 million SPAC IPO tonight and the units are expected to begin trading tomorrow, May 10th, under the symbol Nasdaq: HSACU.
Additionally, the underwriters have announced that they have fully exercised the over-allotment option to purchase an additional 1,500,000 units. ...READ MORE
We had a HEAVY amount of filings tonight and in the interest of providing information on all the SPACs involved, a brief summary has been provided on each below. Additionally, a more thorough post on the new SPAC – GigCapital2 – will be provided in a later post. ...READ MORE
Health Sciences (HSAC) is expected to price their SPAC tonight and possibly Diamond Eagle (DEAC) too. However, Diamond Eagle, Jeff Sagansky’s fifth “Eagle”, was widely reported to be pricing last night, but sometimes the calendar (and the SEC) have other plans. ...READ MORE
Modern Media Acquisition Corp. (MMDM), announced this afternoon that despite their best efforts to wrap up their deal with Akazoo Ltd. by June 17th, they’re probably going to need another month. ...READ MORE
Big Rock Partners Acquisition Corp. (BRPA), filed a definitive proxy statement this morning for their upcoming shareholder vote to extend their completion deadline for another three months to August 22, 2019. ...READ MORE
SPACs are a little complex, but if you layer in financial regulations, they can be downright confusing. Many times I wished I had a lawyer on speed dial just to help make sense of what was going on. ...READ MORE
Landcadia Holdings II, Inc. (LCAHU), announced the pricing of their up-sized $275 million SPAC IPO tonight and the units are expected to begin trading tomorrow, May 7th, under the symbol Nasdaq: LCAHU. ...READ MORE
Big news in SPAC Land….Morgan Stanley has decided to jump into the SPAC underwriting pool with both feet by hiring Bennett Schachter away from Goldman Sachs. That’s quite a splash. Morgan Stanley has, until now, sort of tip-toed around SPACs having only been an underwriter on three deals since 2009 (Hunter Maritime, Leisure and Boxwood). ...READ MORE
Bison Capital Acquisition Corp. (“BCAC”), announced this morning that they have entered into a backstop agreement with Yinglin Mark Xu, a majority shareholder of Xynomic, to purchase up to $7,500,001 of Ordinary Shares in the open market or in other privately negotiated transactions. ...READ MORE