Banyan (NYSE:BYN) has signed a non-binding term sheet for $50 million in convertible notes on a five-year term for its combination with hospitality venture Pinstripes.
These are to be issued no later than December 29 and the parties expect the business combination will close by then. ...READ MORE
Innovative International Acquisition Corp. (NASDAQ:IOAC) announced in an 8-K this morning that it has entered into a subscription agreement with Ananda Trust, an affiliate of the sponsor, ahead of its completion vote for its merger with car-sharing program Zoomcar. ...READ MORE
Prospector Capital Corp. (NASDAQ:PRSR) announced this morning that its shareholders approved its business combination with autonomous driving technology firm LeddarTech during a special meeting held on December 13.
Voters representing over 85% of the issued and outstanding ordinary shares of Prospector cast votes in favor of the combination at the meeting. ...READ MORE
Chavant Capital (NASDAQ:CLAY) announced in an 8-K this morning that it has added $16.9 million in PIPE commitments to its merger with semiconductor maker Mobix Labs through a pair of instruments and it is working to tack on more. ...READ MORE
Flame Acquisition Corp. (NYSE:FLME) has expanded the PIPE for its combination with Sable Offshore to $180.4 million, making it the year’s largest.
The new investments by Metamorphic Pecan match those made by investors in the deal’s existing $74.5 million in PIPE commitments at $10 per shares. ...READ MORE
With 282 SPACs holding pending deals or still searching for a target and 37 more on file, it’s hard to say that the SPAC boom has run its course, but there have been increasing signs that the cycle is beginning to come full circle as 2023 comes to an end. ...READ MORE
Chavant Capital Acquisition Corp. (NASDAQ:CLAY) announced this afternoon that its shareholders approved its business combination with Mobix Labs during a special meeting held earlier today.
At the meeting, holders of 2,499,412 ordinary shares of CLAY, representing approximately 89.94% of all of the shares entitled to vote, were present. ...READ MORE
Nabors Energy Transition Corp. (NYSE:NETC) announced this afternoon that it has closed its combination with solar power producer Vast.
Shareholders already approved the deal during a special meeting held on December 13. However, at that time, the parties stated that the closing was contingent on several conditions and did not provide a timeline for the completion of the combination. ...READ MORE
Investcorp Europe I (NASDAQ:IVCB) announced this morning that it has entered into a subscription agreement with Sakata in connection to its combination with brand protection firm OpSec.
Under the agreement, Sakata subscribed for five million unsecured convertible loan notes of $1 each for an aggregate purchase price of $5 million. ...READ MORE
RMG III (NASDAQ:RMGC) slashed its purchase price of hydrogen power firm H2B2 Electrolysis by nearly half in a raft of deal amendments filed today.
H2B2 will now receive a purchase valuation of $400 million, down from $750 million, and RMG III will no longer be required to maintain at least $5 million in cash available in order for the deal to close. ...READ MORE
Slam Corp. (NASDAQ: SLAM) has signed a letter of intent (LOI) to combine with satellite-direct-to-standard-phone telecoms provider Lynk.
Ever since Slam listed in February 2021, curiosity has followed its process due presence in its team of Alex Rodriguez. ...READ MORE
Chenghe I (NASDAQ:LATG) has signed a potential combination with Taipei-listed golf club manufacturer Femco Steel Technology (TWO:6731) for yet undisclosed consideration.
The parties have not yet released any terms for the agreement, but Femco has an existing market cap of about $45 million. ...READ MORE
This week, in a special edition of the SPACInsider Podcast, SPACInsider founder Kristi Marvin speaks with Omeed Malik, Chairman and CEO of the Colombier SPACs.
We asked Omeed what brought him into the SPAC market and how his first SPAC, Colombier I, navigated the rapidly changing market as it closed in on its combination with PublicSquare (NYSE:PSQH). ...READ MORE
The annual flurry of SPAC activity to complete deals or make extension/liquidation decisions has been in full swing so far in December. But, the one activity missing in action somewhat has been deal announcements themselves. ...READ MORE
Nabors Energy Transition Corp. (NYSE:NETC) announced this afternoon that its shareholders approved its business combination with solar power producer Vast during a special meeting held on December 13.
At the meeting, there were 13,637,434 shares present, representing approximately 81.41% of the total outstanding shares of the company’s common stock. ...READ MORE
One of the low-flying themes of 2023 became the prevalence of the adjournment and postponement. With redemptions high and risk appetites low, every vote has been a bit of a struggle for SPAC teams this year. ...READ MORE
7GC & Co. Holdings Inc. (NASDAQ:VII) announced this morning that it has completed its business combination with video engagement platform Banzai. Shareholders already approved the deal at a meeting held on December 13. ...READ MORE
Bayview Acquisition Corp (NASDAQ: BAYAU) announced the pricing of its $60 million IPO this evening. Its units are expected to begin trading on the Nasdaq under the symbol “BAYAU” on Friday, December 15, 2023. ...READ MORE
Chain Bridge I (NASDAQ:CBRG) announced in an 8-K filing that it agreed to transfer control of its sponsor to Fulton AC I LLC, which will now appoint a new team.
The agreement involves the buyer acquiring 3,035,000 Class B ordinary shares and warrants to buy 7,385,000 Class A ordinary shares from the sponsor. ...READ MORE