SPAC IPO Terms Tracker: June 16, 2023
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Fifth Wall Acquisition Corp. III (FWAC) Amends Sponsor and Subscription Agreements
Fifth Wall Acquisition Corp. III (NASDAQ:FWAC) announced this afternoon that it has amended its sponsor agreement and subscription agreement in connection to its proposed merger with parking asset owner Mobile Infrastructure. ...READ MORE
Corner Growth Acquisition Corp. (COOL) Adjourns Extension Vote
Corner Growth Acquisition Corp. (NASDAQ: COOL) announced this afternoon that it convened and then determined to adjourn its special meeting until June 20.
At the meeting, a sufficient number of COOL’s ordinary shares were present to constitute a quorum. ...READ MORE
The Latest Non-Redemption Agreements: June 16, 2023
Latest Non-Redemption Agreements: 7GC & Co. Holdings Inc.
7GC & Co. Holdings Inc. (VII) Adds Non-Redemption Agreement
On June 16, 2023, 7GC & Co. Holdings Inc. (NASDAQ:VII) and the Company’s sponsor entered into a non-redemption agreement with an unaffiliated third party in exchange for the holder agreeing either not to request redemption, or to reverse any previously submitted redemption demand with respect to an aggregate of 247,000 shares of Class A common stock. ...READ MORE
Cartica Acquisition Corp. (CITE) Reschedules Extension Vote
Cartica Acquisition Corp. (NASDAQ: CITE) announced this afternoon that it is rescheduling its special meeting from 1:00 p.m. on June 23, to the same time on June 30.
Shareholders will be voting on a proposal to extend the SPAC’s completion deadline from July 7, 2023 to April 7, 2024. ...READ MORE
The Latest SPAC News and Rumors: June 16, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: VinFast posts deeper loss in Q1, LanzaJet and LanzaTech selected by Air New Zealand to undertake sustainability study, and Abacus Life continues to expand market share
VinFast posts deeper loss in Q1, eyes July completion of SPAC merger
Vietnamese electric vehicle (EV) maker VinFast has reported a drop in first-quarter revenue by 49%, with a net loss deepening to $598 million in the first full reporting period since it started exporting to the United States.
AP Acquisition Corp. (APCA) to Combine with JEPLAN in $480M Deal
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Plum Acquisition Corp. I (PLMI) Hops Back in the Saddle
Plum I (NASDAQ:PLMI) announced in an 8-K this morning that it was reversing its decision to liquidate on June 18, and will instead hunt for a target for at least one more month, extending its deadline to July 18. ...READ MORE
Global Star Acquisition Inc. (GLST) to Combine with K Enter in $610M Deal
Global Star (NASDAQ:GLST) has entered into a definitive agreement to combine with entertainment firm K Enter, which is to merge with seven South Korean businesses for a total valuation of $610 million, or about 3.9x their 2022 revenue. ...READ MORE
Welsbach Technology Metals Acquisition Corp. (WTMA) Terminates WaveTech Deal
Welsbach Technology Metals Acquisition Corp. (NASDAQ:WTMA) announced this morning that it has jointly terminated its combination with battery-maker WaveTech, citing market conditions.
The short press release gave few further details, but the parties were past the merger’s outside date since March 31. ...READ MORE
Metals Acquisition Corp. (MTAL) Completes CSA Copper Mine Acquisition
Metals Acquisition Corp. (NYSE:MTAL) announced this morning that it has completed its acquisition of the parent company for Glencore’s (LON:GLEN) CSA Copper Mine in Australia.
The combined company’s shares and warrants will begin trading today on the NYSE under the continued ticker symbols “MTAL” and “MTAL.W”, ...READ MORE
The Latest Liquidations: June 15, 2023
Latest SPAC Liquidations: Plum Acquisition I
Plum Acquisition I (PLMI) Terminates Deal, Intends to Liquidate
On June 14, Plum (NASDAQ:PLMI) received a termination notice from its target Sakuu. In light of the termination of the Business Combination Agreement, Plum’s Board of Directors determined that it will not extend the deadline for Plum to consummate a business combination beyond June 18. ...READ MORE
Priveterra Acquisition Corporation (PMGM) Adjourns Completion Vote Fourth Time
Priveterra Acquisition Corp. (NASDAQ:PMGM) announced in an 8-K this afternoon that it will adjourn its special meeting to approve its combination with AEON Biopharma from noon today to the same time on June 21, marking the fourth adjournment for the meeting. ...READ MORE
7GC & Co. Holdings Inc. (VII) Postpones Extension Vote
7GC & Co. Holdings Inc. (NASDAQ: VII) announced this afternoon that its special meeting, which was originally scheduled for June 20, will be postponed to 12:00 p.m. ET on June 26.
The company is currently facing a completion deadline of June 28 as it works to close a deal, but intends to extend this until December 28, or such earlier date as determined by the board of directors. ...READ MORE
Canna-Global Acquisition Corp. (CNGL) to Combine with New Quantum in $800M Deal
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The Latest SPAC News and Rumors: June 15, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SEC publishes rulemaking agenda, American Battery Materials expands board and strategic relationships, and Tomorrow.io
...READ MORE
Freedom Acquisition 1 Corp. (FACT) Lowers Complete Solaria Valuation, Adds Funding
Freedom I (NYSE:FACT) announced this morning that it has lowered the pre-money equity valuation by half for its target Complete Solaria while bringing in $10 million more in commitments to its bridge financing. ...READ MORE
Tristar Acquisition I Corp. (TRIS) Terminates LOI
Tristar Acquisition I Corp. (NYSE:TRIS) announced in an 8-K this afternoon that it has terminated its non-binding letter of intent (LOI) with its unnamed target.
The LOI was announced just a few months ago in March, but by having this signed agreement in hand, it allowed the SPAC to automatically extend its transaction deadline by three months from April 18 to July 18. ...READ MORE
Mountain Crest Acquisition Corp. V (MCAG) Terminates AUM Biosciences Deal
Mountain Crest Acquisition Corp. V (NASDAQ:MCAG) announced in an 8-K that it has received a termination notice from biotech firm AUM Biosciences.
The SPAC did not disclose a reason for the breakup, but saw redemptions wipe out 92.33% of its trust during a May extension meeting, leaving it with $5.49 million post-vote. ...READ MORE
Coliseum Acquisition Corp. (MITA) Adjourns Extension Vote
Coliseum Acquisition Corp. (NASDAQ: MITA) announced this afternoon that it intends to adjourn its special meeting, originally scheduled to be held on June 20, until June 22 due to a change in its extension proposal. ...READ MORE