SPAC IPO Terms Tracker: June 30, 2023
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Adit EdTech Acquisition Corp. (ADEX) Adjourns Extension Vote
Adit EdTech Acquisition Corp. (NYSE:ADEX) announced that it has adjourned today’s extension vote and will reconvene it at 9 am ET on July 11.
ADEX intends to use this additional time to seek additional proxies for two proposals: one to extend the time for the company to complete its initial business combination, and another to remove a prohibition on certain actions if the company’s net tangible assets fall below $5 million. ...READ MORE
HH&L Acquisition Co. (HHLA) Terminates DiaCarta Deal
HH&L (NYSE:HHLA) announced this afternoon that it has terminated its business combination with biotech firm DiaCarta.
On June 26, the SPAC sent a termination notice to DiaCarta due to breaches of representations and covenants by DiaCarta and fraudulent misrepresentation. ...READ MORE
Monterey Innovation Acquisition Corp. (MTRY) Adjourns Extension Vote
Monterey Innovation (NASDAQ:MTRY) announced that it has adjourned today’s extension vote without conducting any business and will reconvene it at 11 am ET July 3.
The proposal on offer would allow Monterey’s relatively new management to extend the SPAC’s transaction deadline up to nine times by one month each up to April 5, 2024 by contributing $100,000 each month. ...READ MORE
The Latest SPAC News and Rumors: June 30, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Quantum Fintech ends $50M lawsuit against Monex Group
Quantum SPAC Ends Busted-Deal Case Against Japan’s Monex Group
Quantum Fintech Acquisition Corp.
Sagaliam Acquisition Corp. (SAGA) Amends LOI with Enzolytics
Sagaliam (NASDAQ:SAGA) announced this morning that it has amended a non-binding letter of intent (LOI) for the purchase of Biogenysis, Inc. and Virogentics Inc., operating subsidiaries of Enzolytics Inc. (Pink: ENZC). ...READ MORE
Priveterra Acquisition Corporation (PMGM) Boosts AEON Biopharma Funding to $125M
Jun 30, 2023
De-SPAC Votes and Redemptions, Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton
Priveterra (NASDAQ:PMGM) announced this morning what it has been cooking up through seven adjournments of its special meeting to complete its combination with AEON Biopharma – up to $105 million in new funding through a mix of facilities. ...READ MORE
Galata Acquisition Corporation (GLTA) to Adjourn Completion Vote
Galata Acquisition Corp. (NASDAQ:GLTA) announced this morning that its special meeting, intended to approve its combination with Turkish mobility app Marti, will be adjourned due to a change in its proxy. ...READ MORE
GSR II Meteora Acquisition Corp. (GSRM) Shareholders Approve Bitcoin Depot Deal
GSR II Meteora (NASDAQ:GSRM) announced in an 8-K this morning that it secured shareholder approval for its combination with Bitcoin Depot at a special meeting June 28.
A further 3,686,863 shares were redeemed in connection with the vote, bringing GSR II’s final redemption rate to about 89% and leaving it with about $35 million in trust at close. ...READ MORE
GoGreen (GOGN) Shareholders Approve Lifezone Metals Deal
GoGreen Investments (NYSE:GOGN) secured shareholder approval for its combination with battery metals producer Lifezone Metals at a special meeting yesterday June 29.
The SPAC has not yet released redemption figures in connection with the vote, but the transaction’s $50 million minimum cash condition was fully covered by a $70 million PIPE at $10 per share. ...READ MORE
The Latest Liquidations: June 29, 2023
Latest SPAC Liquidations: Stratim Cloud
Stratim Cloud Acquisition Corp. (SCAQ) Terminates Force Pressure Control Deal, Intends to Liquidate
On June 27, Stratim Cloud (NASDAQ:SCAQ) received a letter from Force purporting to terminate the Purchase Agreement and each of the transaction agreements entered into in connection with the Purchase Agreement. ...READ MORE
The Latest SPAC News and Rumors: June 29, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Trump SPAC investors charged in $22M scheme, Lordstown says it has had confidential settlement talks with SEC, and Virgin Galactic enters space tourism era with commercial debut
Trump SPAC Investors Charged in $22 Million Scheme
Three investors in the special purpose acquisition company that has agreed to take Trump Media & Technology Group Corp.
Semper Paratus Acquisition Corporation (LGST) to Combine with Tevogen Bio in $1.2Bn Deal
Semper Paratus (NASDAQ:LGST) has entered into a definitive agreement to combine with Tevogen Bio at an enterprise value of $1.2 billion.
Warren, New Jersey-based Tevogen is developing a treatment to boost the immune systems of COVID patients undergoing cancer treatments or that have other comorbidities. ...READ MORE
The Latest Liquidations: June 28, 2023
Latest SPAC Liquidations: Hawks Acquisition Corp.
Hawks Acquisition Corp. (HWKZ) to Liquidate on July 11
Hawks Acquisition Corp. (NYSE: HWKZ) announced overnight that it will redeem all of its outstanding shares of Class A common stock other than shares of Class A Common Stock that have been converted from shares of Class B Common Stock. ...READ MORE
Priveterra Acquisition Corporation (PMGM) Adjourns Completion Vote for Seventh Time
Priveterra Acquisition Corp. (NASDAQ:PMGM) announced this afternoon that its special meeting, intended to approve its combination with AEON Biopharma, has been adjourned for the seventh consecutive time.
Given the SPAC’s completion deadline of August 11, it is unlikely that this will be the last adjournment we will see for this completion vote. ...READ MORE
The Latest SPAC News and Rumors: June 28, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Faraday Future raises $90 million to help get its delayed electric SUV to production
Despite EV delivery delays, Faraday Future raises $90M to stay afloat
Faraday Future (NASDAQ: FFIE) has managed to raise $90 million from existing investors to help it get its much-delayed FF 91 luxury electric SUV to production and delivery.
Bannix Acquisition Corp. (BNIX) to Combine with EVIE Autonomous
Bannix Acquisition Corp. (NASDAQ:BNIX) announced in an 8-K this morning that it has entered into a definitive agreement to combine with autonomous vehicle company EVIE.
Staffordshire, UK-based EVIE’s pod-shaped autonomous vehicles have transported about 6.3 million people at London’s Heathrow Airport and logged about 5.5 million kilometers (3.4 million miles) in commercial service. ...READ MORE
Podcast: Carbon Revolution CEO Jake Dingle
Car enthusiasts have been bolting carbon fiber wheels onto high performance vehicles for years. But, the hitherto luxury add-on brings real benefits to vehicle weight and energy economy, both of which have a new importance in the age of EVs. ...READ MORE
Bukit Jalil Global Acquisition 1 Ltd. (BUJA) Prices $50M IPO
Bukit Jalil Global Acquisition 1 Ltd. priced its $50 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “BUJAU” Wednesday, June 28, 2023.
The company intends to identify emerging growth companies with strong management teams that can either grow into a position to generate cash or are already cash-generative. ...READ MORE