The Latest SPAC News and Rumors: June 1, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lucid to raise $3B in a common stock offering from Saudi owners, Betsy Cohen says SPACs will make a comeback, and SatixFy makes another leadership change
Lucid Raising $3 Billion With More Money From Saudi Owners
Lucid Group Inc. ...READ MORE
Niron Stabinsky and Credit Suisse Team to Join Banco Santander SA
An article on Bloomberg yesterday announced what many in SPAC Land have been wondering after UBS acquired Credit Suisse – where was Niron Stabinsky, the Head of SPACs at Credit Suisse, going to land? ...READ MORE
The Latest SPAC News and Rumors: May 31, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: eureKING signs put option for the potential acquisition of Skyepharma and Pear Therapeutics sells for $6M in post-bankruptcy auction
eureKING, the first European SPAC in healthcare dedicated to biomanufacturing, announces the signature of a put option for the potential acquisition of Skyepharma to build a new European bio-CDMO leader
eureKING (ISIN: FR0014009ON9, Euronext Paris), the first European SPAC in healthcare dedicated to bioproduction, today announced that it has signed, on May 25, 2023, a put option agreement for 100% of the share capital of Oleron Pharma, the 100% holding company of Skyepharma. ...READ MORE
Pegasus Digital Mobility Acquisition Corp. (PGSS) to Combine with SCHMID GROUP in $640M Deal
Pegasus Digital (NYSE:PGSS) has entered into a definitive agreement to combine with equipment manufacturer SCHMID at an enterprise value of $640 million.
Freudenstadt, Germany-based SCHMID makes silicon and glass components for the solar energy industry and electronics, including substrates for the broader technology space. ...READ MORE
Minority Equality Opportunities Acquisition Inc. (MEOA) Further Postpones Completion Vote
Minority Equality Opportunities (NASDAQ:MEOA) announced this morning that it is pushing back the date for its completion vote for its combination with cloud services firm Digerati (OTC:DTGI), marking the third postponement for the meeting. ...READ MORE
Wejo (WEJO) Files for Insolvency in UK
Vehicle data-tracker Wejo (NASDAQ:WEJO) announced in an 8-K this afternoon that it has filed its intention to appoint an administrator to oversee its insolvency and it is evaluating whether it will do so in the United States as well. ...READ MORE
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