The Latest SPAC News and Rumors: May 30, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: GreenLight Biosciences returns to private market, Jet.AI partners with Vegas Golden Knights and Cirrus Aviation, and True Velocity announces partnership with FN America
GreenLight returns to private market in $46M deal after taste of Wall Street
GreenLight Biosciences will seek its dream off Wall Street in a go-private deal less than two years after taking the special purpose acquisition company route there. ...READ MORE
GreenLight Biosciences (GRNA) to Be Acquired by Fall Line Capital for $0.30 Per Share
GreenLight Biosciences (NASDAQ:GRNA), which combined with Environmental Impact in February 2022, announced this morning that it is being acquired in a go-private transaction by Fall Line Capital for $45.5 million.
While this is a steep valuation decline from its $1.23 billion enterprise value at the announcement of its SPAC deal, this price does represent a 50% premium to GreenLight’s last closing price. ...READ MORE
FOXO Technologies Inc. (FOXO) Completes Warrant Exchange and PIK Note Offer
FOXO Technologies Inc. (NYSE:FOXO), which completed its business combination with Delwinds Insurance in September 2022, announced this morning that it has consummated its exchange offer for all outstanding warrants as well as its PIK note offer to amend. ...READ MORE
Redwoods Acquisition Corp. (RWOD) to Combine with ANEW Medical in $94M Deal
Redwoods Acquisition Corp. (NASDAQ:RWOD) has entered into a definitive agreement to combine with biotech firm ANEW (OTC PINK:LEAS) at an enterprise value of $94 million.
Cheyenne, Wyoming-based ANEW is developing biosimilar cancer treatments and gene therapies for neurodegenerative conditions. ...READ MORE
Rice Acquisition Corp. II (RONI) Adds $15M PIPE to NET Power Deal
Rice Acquisition Corp. II (NYSE: RONI) today announced that it has secured $15 million for its PIPE in connection to its business combination with clean natural gas producer NET Power, bringing the total committed capital to approximately $575 million. ...READ MORE
SPAC IPO Terms Tracker: May 26, 2023
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The Latest Liquidations: May 26, 2023
Latest SPAC Liquidations: Social Capital Suvretta Holdings II & IV, Sculptor Acquisition Corp I, Logistics Innovation Technologies Corp., and Senior Connect I
Social Capital Suvretta Holdings Corp. II (DNAB) to Liquidate on June 30
On May 26, Social Capital Suvretta Holdings Corp. ...READ MORE
The Latest Non-Redemption Agreements: May 26, 2023
Latest Non-Redemption Agreements: Southport Acquisition Corp., and Social Leverage Acquisition Corp. I
Southport Acquisition Corporation (PORT) Adds Non-Redemption Agreement
On May 25, 2023, Southport Acquisition Corporation (NYSE:PORT) and its sponsor, Southport Acquisition Sponsor LLC, entered into voting and non-redemption agreements with unaffiliated third parties in exchange for such third parties agreeing not to redeem an aggregate of 4,000,000 shares of Class A common stock and to vote in favor of the Extension Proposal and the Extension at the Special Meeting. ...READ MORE
ST Energy Transition I (STET) Cancels Extension Meeting
ST Energy Transition I Ltd. (NYSE: STET) announced this afternoon that it has cancelled its meeting to vote on an extension proposal.
The SPAC initially announced the pricing of its $250 million IPO in December 2021 and had 18 months on its timeline to combine with a target. ...READ MORE
The Latest SPAC News and Rumors: May 26, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: VinFast recalls first batch of EVs in the US, Arrival seeks second chance with EV tax credits, and QualTek files for bankruptcy
Vietnam’s VinFast recalls first batch of US-bound EVs over safety risk
Vietnamese electric vehicle (EV) maker VinFast said it is recalling all of the first batch of vehicles it shipped to the United States last year following a safety warning issued by U.S. ...READ MORE
Embark (EMBK) to Be Acquired by Applied Intuition at $2.88 Per Share
Embark Technology (NASDAQ:EMBK), which combined with Northern Genesis II in November 2021, announced this morning that it has agreed to merge with software firm Applied Intuition.
The all-cash deal would give the company a total equity value of $71 million – a far drop from the roughly $5 billion valuation it had upon its Nasdaq debut. ...READ MORE
Minority Equality Opportunities Acquisition Inc. (MEOA) Further Postpones Completion Vote
Minority Equality Opportunities (NASDAQ:MEOA) announced this morning that it is once again postponing its vote to complete its combination with cloud services firm Digerati (OTC:DTGI) from 10 am on Friday, May 26 until 2 pm on Wednesday, May 31. ...READ MORE
OceanTech Acquisition I Corp. (OTEC) Postpones Extension Vote
OceanTech I (NASDAQ:OTEC) announced this morning that it will postpone its special meeting originally scheduled for today for 11:30 ET May 30.
Shareholders are to meet virtually to consider extending OceanTech I’s transaction deadline from by up to one year from June 2 to June 2, 2024 in one-month increments. ...READ MORE
The Latest Non-Redemption Agreements: May 25, 2023
Latest Non-Redemption Agreements: Bridgetown Holdings Limited
Bridgetown Holdings Limited (BTWN) Adds Non-Redemption Agreement
Concurrently with the execution of Bridgetown’s (NASDAQ:BTWN) business combination, the sponsor entered into a non-redemption agreement with FWD Life Insurance Company, Limited and FWD Life Insurance Public Company Limited in exchange for them agreeing not to redeem an unspecified number of shares. ...READ MORE
The Latest Liquidations: May 25, 2023
Latest SPAC Liquidations: Motive Capital Corp. II
Motive Capital Corp II (MTVC) to Liquidate on June 9
Motive Capital Corp II (NYSE: MTVC) announced today that it intends to liquidate and dissolve and will redeem all of its outstanding Class A ordinary shares, effective as of the close of business on June 9, 2023. ...READ MORE
Grove Collaborative to Implement Reverse Stock Split
Grove Collaborative (NYSE: GROV), which completed a merger transaction with Virgin Group II in June 2022, announced this afternoon that it will implement a 1-for-5 reverse split of its common stock. ...READ MORE
Bridgetown Holdings Limited (BTWN) to Combine with MoneyHero Group in $342M Deal
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The Latest SPAC News and Rumors: May 25, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Nasdaq threatens to delist Trump SPAC, Plastiq files for bankruptcy, and Virgin Galactic faces crucial test flight
Nasdaq threatens to delist the Trump SPAC from the stock market
Digital World Acquisition Corp. ...READ MORE
Apexigen (APGN) to Be Acquired by Pyxis Oncology (PYXS) at $0.64 Per Share
Apexigen (NASDAQ: APGN), which recently combined with Brookline Capital in July 2022, announced that it will be acquired by Pyxis Oncology (NASDAQ:PYXS) in an all-stock transaction that would value it at $0.64 per share. ...READ MORE