SPAC IPO Terms Tracker: A Quiet Week Amidst A Noisier Backdrop
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The Latest Non-Redemption Agreements: March 24, 2023
Latest Non-Redemption Agreements: ExcelFin Acquisition Corp.
ExcelFin Acquisition Corp. (XFIN) Adds Non-Redemption Agreement
In connection with the special meeting of stockholders of ExcelFin Acquisition Corp. (NASDAQ:XFIN) to extend its completion deadline from April 25, 2023 to October 25, 2023, the company and its sponsor, ExcelFin SPAC LLC, entered into a non-redemption agreement with an unaffiliated third party. ...READ MORE
The Latest SPAC News and Rumors: March 24, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Momentus SPAC backers accused of deliberately engineering a catastrophic deal
Momentus SPAC Backers Accused of Hiding Disastrous Deal’s Flaws
A Momentus Inc. ...READ MORE
DiamondHead Holdings Corp. (DHHC) Shareholders Approve Great Southern Homes Deal
DiamondHead Holdings Corp. (NASDAQ:DHHC) announced in an 8-K this morning that its shareholders approved its combination with Great Southern Homes at a special meeting March 23.
Only 109,426 shares were redeemed in the connection with the vote, but DiamondHead has seen about 87% redemptions in total across all previous votes, leaving it with about $43.9 million in its trust. ...READ MORE
Graf Acquisition Corp. IV (GFOR) Announces LOI with NKGen Biotech
Graf Acquisition Corp. IV (NYSE:GFOR) announced that it has signed a non-binding letter of intent to combine with clinical-stage biopharma company NKGen.
This announcement is not a pure teaser as Graf IV is not facing an imminent extension vote and currently has until May 25 on its clock. ...READ MORE
Oak Woods Acquisition Corporation (OAKU) Prices $50M IPO
Oak Woods Acquisition Corporation priced its $50 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “OAKU” Friday, March 24, 2023.
The SPAC intends to focus on businesses that have their primary operations in the technology-enabled healthcare services industry located in the Asia-pacific region. ...READ MORE
The Latest SPAC News and Rumors: March 23, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SMX successfully marks steel at manufacturing facility in Europe, and Rainwater Tech partners with Discovery Land to generate rainfall across developer’s properties
SMX Leads the Transition from Linear to Circular Production through the Success in Marking Steel for Automotive, Train and Railway Industries, and Infrastructure Applications
SMX PLC (NASDAQ: SMX), a company focused on digitizing physical objects on the blockchain to enable a circular and closed loop economy, today announced that alongside a global steel and mining leader, it has successfully marked steel at a manufacturing facility in Europe, for brand identification, ethical sourcing and for recycle and reuse (green steel) purposes for electric vehicles and renewable energy infrastructure. ...READ MORE
Podcast Bonus Episode: What’s Driving SPACs Offshore?
Between the various recent cases in the Delaware courts, such as Boxed, which involved the different SPAC voting classes, or the Multiplan case, or Arrival, all of which are in addition to the 1% excise tax on share buybacks, there has been a noticeable trend of SPACs moving to off-shore domiciles. ...READ MORE
two (TWOA) Sells Sponsor Economics to Hennessy Team
two (NYSE:TWOA) announced in an 8-K this morning that it has transferred the majority of its sponsor interest to a new team led by SPAC veteran Thomas Hennessy.
The new sponsor entity HC Proptech Partners III is to purchase 4,854,375 promote shares (90.9%) for undisclosed cash consideration and all current SPAC officers are expected to resign. ...READ MORE
Metals Acquisition Corp. (MTAL) Adds Additional Funding to CSA Copper Mine Deal
Metals Acquisition Corp. (NYSE:MTAL) announced in an 8-K this afternoon that it has entered into a silver stream equity subscription agreement, redemption backstop, and copper stream equity subscription agreement to support its combination with Glencore’s (LON:GLEN) CSA Copper Mine. ...READ MORE
Stratim Cloud Acquisition (SCAQ) to Combine with Force Pressure Control in $287M Deal
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The Latest SPAC News and Rumors: March 22, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Electriq Power signs $300M agreement, Zapp reveals production version of i300 Carbon Launch Edition, and White & Case sues Colonnade II
Electriq Power secures $300M to deploy solar + storage in California with ‘major U.S.
...READ MORE
Podcast: Greg Moran, Co-Founder and CEO of Zoomcar
Fighting for digital services market share in developed markets can be uphill sledding, but what if what you are offering has no legacy competitor to replace?
This week, we speak with Greg Moran, Co-Founder and CEO of Zoomcar. Zoomcar ...READ MORE
Digital World (DWAC) Replaces Patrick Orlando as CEO
Digital World (NASDAQ:DWAC) announced this morning that it has replaced CEO Patrick Orlando with Eric Swider, who is stepping up from a director position.
The move is the just the latest installment in a long, winding road that Digital World has taken since announcing a business combination with Trump Media and Technology Group (TMTG) all the way back in October 2021. ...READ MORE
DiamondHead Holdings Corp. (DHHC) Adds PIPE to Great Southern Homes Deal
DiamondHead Holdings Corp. (NASDAQ:DHHC) announced this morning that it has added convertible note and PIPE financing that is expected to bring up to $155 million in new financing to its combination with Great Southern Homes. ...READ MORE
The Latest Liquidations: March 21, 2023
Latest SPAC Liquidations: Aries I
Aries I Acquisition Corp. (RAM) to Liquidate on March 21
On March 21, Aries I Acquisition Corporation (NASDAQ:RAM) announced that it will not seek an extension of the time to complete an initial business combination and that it will redeem all of its outstanding Class A ordinary shares, effective as of the close of business on March 21. ...READ MORE
KludeIn I Acquisition Corp. (INKA) Shareholders Approve Near Deal
KludeIn I (NASDAQ:INKA) announced this afternoon that its shareholders have approved its combination with data intelligence platform Near.
Holders of 4,543,306 shares of KludeIn’s common stock were present at yesterday’s special meeting. ...READ MORE
Maxpro Capital Acquisition Corp. (JMAC) Shareholders Approve Apollomics Deal
Maxpro Capital (NASDAQ:JMAC) announced this afternoon that its shareholders have approved its combination with biopharmaceutical firm Apollomics.
An aggregate of 10,804,097 shares of Maxpro’s common stock were present at yesterday’s special meeting. ...READ MORE
Northern Revival Acquisition Corporation (NRAC) to Combine with Braiin in $190M Deal
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The Latest SPAC News and Rumors: March 21, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: eToro secures $250M at $3.5B valuation after scrapping SPAC, DWAC stock gains amid speculation Trump may be arrested, and Morgan Creek SPAC ETF to shut down
eToro secures $250M at a $3.5B valuation after scrapping SPAC, seeing slower growth
After calling off its plans to go public via a SPAC at a $10.4 billion valuation in 2022, trading platform eToro has secured $250 million in funding at a $3.5 billion valuation. ...READ MORE