The Latest SPAC News and Rumors: January 4, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lenders to SPAC Cyxtera merger seek legal advice on debt, LanzaTech founder to take on advisory role, and SEC charges former SPAC CFO for orchestrating $5M fraud scheme
Lenders to 2021 SPAC Merger Cyxtera Seek Legal Advice on Debt
A group of lenders to struggling data-center firm Cyxtera Technologies Inc.
RMG Acquisition Corporation III (RMGC) Signs LOI with H2B2 Electrolysis Technologies
RMG Acquisition Corporation III (NASDAQ:RMGC) announced this morning that it has signed a letter of intent (LOI) to combine with hydrogen energy systems provider H2B2 Electrolysis Technologies.
The announcement comes just a few days before RMGC’s shareholder vote next Tuesday, January 10, to extend its timeline from February 9 to August 9. ...READ MORE
Jack Creek (JCIC) Bumps Extension Vote to Jan. 12
Jack Creek Investment Corp (NASDAQ:JCIC) announced this morning that it is pushing out its shareholder vote scheduled for January 10, to 10:30 am ET January 12.
This means that the SPAC’s new redemption deadline is to be 5 pm ET, January 10. ...READ MORE
Kernel Group Holdings (KRNL) Sells Sponsor Economics
Kernel Group Holdings (NASDAQ:BIOT) announced in an 8-K that it has agreed to sell most of its sponsor economics and undergo a management change.
VKSS Capital is coming in to purchase 7,187,500 of the sponsor’s promote shares (94.3%) at par value $0.0001 per share, leaving the original sponsor 431,250 remaining. ...READ MORE
The Latest Liquidations: January 3, 2023
Latest SPAC Liquidations: Deep Lake Capital Acquisition Corp.
Deep Lake Capital Acquisition Corp. (DLCA) to Liquidate January 13
Deep Lake Capital Acquisition Corp. (Nasdaq: DLCA) announced that it will liquidate and intends to redeem all of the outstanding Class A ordinary shares at a per-share redemption price of approximately $10.124. ...READ MORE
The Latest SPAC News and Rumors: January 3, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Royalty Management expands investment in Ferrox Holdings to over 10% equity ownership and ZyVersa Therapeutics adds two leading nephrologists to its Renal Scientific Advisory Board
American Acquisition Opportunity’s Target, Royalty Management, Expands Investment in Ferrox Holdings to Over 10% Equity Ownership
American Acquisition Opportunity Inc.’s ...READ MORE
Full-Year 2022 SPAC Review
An In-Depth Look at SPAC Activity Throughout the Full Year of 2022
Below is a summary of the 2022 SPAC market.
By all counts, the number of SPAC IPOs in 2021, at 613, was a high water mark not likely to be seen again in future years.
The Latest Liquidations: December 30, 2022
Latest SPAC Liquidations: Marlin Technology Corp.
Marlin Technology Corp. (FINM) to Liquidate January 13
Marlin Technology Corporation (Nasdaq: FINM) today announced that it will redeem all of its outstanding Class A ordinary shares, effective as of the close of business on January 17, 2023. ...READ MORE
Dune Acquisition Corp. (DUNE) Settles Lawsuit for $5 Million
Dune Acquisition Corporation (NASDAQ: DUNE) announced in an 8-K this afternoon that it has settled its lawsuit with equities trading platform TradeZero and mutually terminated its combination agreement.
As a refresher, Dune launched a lawsuit against its combination partner TradeZero in April 2022 claiming that its target, “fraudulently induced” it into entering the merger and “materially breached” that agreement, causing “irreparable injury” to the SPAC. ...READ MORE
AlphaTime Acquisition Corp. (ATMCU) Prices $60M IPO
AlphaTime Acquisition Corp. priced its $60 million IPO and its units began trading on the Nasdaq under the symbol “ATMCU” Friday, December 30, 2022.
The new SPAC intends to acquire businesses in Asia that have the potential to generate strong, stable, and increasing free cash flow, particularly businesses with predictable revenue streams and definable low working capital. AlphaTime ...READ MORE
The Latest SPAC News and Rumors: December 30, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: NWTN delivers first batch of EVs to client in UAE, and DraftKings set to launch online sportsbook in Ohio
NWTN Delivers First Batch of Electric Vehicles to Client in the UAE
NWTN Inc. ...READ MORE
CENAQ Energy Corp. (CENQ) Warns PIPE Investors Fall Short
CENAQ Energy Corp. (NASDAQ:CENQ) in an 8-K filing gave an update this morning that its investors have not yet been able to raise the full $80 million PIPE that was initially intended at its deal announcement. ...READ MORE
Northern Star II (NSTB) and Pivotal Investment III (PICC) Ink Non-Redemption Agreements
Northern Star Investment Corp. II (NYSE:NSTB) and Pivotal Investment Corp. III (NYSE:PICC) both announced in morning filings that they have signed non-redemption agreements with shareholders in connection with their extension votes. ...READ MORE
The Latest Liquidations: December 29, 2022
Latest SPAC Liquidations: MDH Acquisition Corp.
MDH Acquisition Corp. (MDH) to Liquidate December 29
MDH Acquisition Corp. (NYSE: MDH) announced that in accordance with the announced December 29, 2022 termination date set by its Board of Directors, the company expects to redeem all outstanding public shares by December 29, 2022. ...READ MORE
Fortune Rise Acquisition Corp. (FRLA) Sponsor Sells Interest to Water On Demand
Fortune Rise Acquisition Corp. (NASDAQ: FRLA) announced this afternoon that it has entered into a membership interest purchase and transfer agreement resulting in a change in leadership.
On December 22, FRLA’s sponsor, Fortune Rise Sponsor LLC, entered into a purchase agreement with water fintech startup Water On Demand, Inc. ...READ MORE
SPACInsider 2022 Awards and SPAC Deal of the Year
2022 was the year of the SPAC steeplechase. Just when SPACs thought they had cleared one hurdle, they would turn the corner and find they needed to jump a new and deeper moat. ...READ MORE