Venus Acquisition Corp. (VENA) Secures $25M Backstop for VIYI Algorithm Deal

Nov 23, 2022 Deal Announcements & Amendments, INTEL by Marlena Haddad

Venus Acquisition Corp. (NASDAQ:VENA) announced this afternoon that it has secured an investor for a backstop agreement in connection to its business combination with VIYI Algorithm.

Venus and its sponsor, Yolanda Management Corporation, entered into a backstop agreement with Joyous JD Limited to purchase VENA shares from third parties through a broker in the open market, or through privately negotiated transactions, including from SPAC shareholders that had elected to redeem shares. ...READ MORE

Podcast: De-SPACs and Projections – A Discussion with Jim Zukin and Christian Nagler

Nov 23, 2022 Headline Post, INTEL, Podcasts & Webinars by Kristi Marvin

SPACs and the use of projections have gotten a fair amount of attention this year from both the media and the SEC. And the pending SEC SPAC Rule could have an additional effect on how bankers and SPAC teams handle projections in the future. ...READ MORE

The Latest SPAC News and Rumors: November 23, 2022

Nov 23, 2022 INTEL, SPACs in the News by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: Cilo Cybin flops after failing to lure South Africa investors, DWAC wins shareholder support for one year extension, and Watersight adds global companies to AquaRing pilot program

Cannabis SPAC Flops After Failing to Lure South Africa Investors

Cilo Cybin Holdings Ltd., ...READ MORE

ACE Convergence Acquisition Corp. (ACEV) Shareholders Approve Tempo Deal

Nov 23, 2022 De-SPAC Votes and Redemptions, INTEL by Marlena Haddad

ACE Convergence (NASDAQ:ACEV) announced this morning that its shareholders have approved its business combination with electronics manufacturer Tempo during a special meeting held on November 17.

The SPAC did not disclose redemption amounts, but shares of ACEV traded above its trust value of $10 throughout its redemption deadline November 15. ...READ MORE

Metals Acquisition Corp. (MTAL) Amends Deal for Glencore CSA Copper Mine

Nov 23, 2022 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Metals Acquisition Corp. (NYSE:MTAL) announced that it has made a series of amendments to its combination the Glencore’s (LON:GLEN) CSA Copper Mine, shifting some portions of the compensation to contingencies based on commodity prices. ...READ MORE

OceanTech Acquisitions I Corp. (OTEC) Postpones Extension Vote to Nov. 29

Nov 23, 2022 De-SPAC Votes and Redemptions, Headline Post, INTEL by Nicholas Alan Clayton

OceanTech I (NASDAQ:OTEC) has postponed an extension vote scheduled for later today after receiving high redemption notices.

Shareholders requested to redeem a total of 9,449,599 shares, representing 91.5% of its shares outstanding. ...READ MORE

The Latest Liquidations: November 22, 2022

Nov 22, 2022 De-SPAC Votes and Redemptions, INTEL, SPACs in the News by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC Liquidations: Orion, Austerlitz I, Austerlitz II, Fortress Value II, and Fortress Value IV

Orion Acquisition Corp.

Western Acquisition Ventures Corp. (WAVS) to Combine with Cycurion in $170M Deal

Nov 22, 2022 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

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Hainan Manaslu Acquisition Corp. (HMAC) to Combine with Able View Inc. in $400M Deal

Nov 22, 2022 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

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The Latest SPAC News and Rumors: November 22, 2022

Nov 22, 2022 INTEL, SPACs in the News by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: GloriFi to shut down, BM Technologies’ acquisition of Seattle community bank pushed to 2023, and Core Scientific loses $1.7 billion

Texas-based fintech firm GloriFi to shut down

Texas-based fintech firm GloriFi is shutting down and laid off most of its employees, the Wall Street Journal reported on Monday, citing people familiar with the matter. ...READ MORE

CIIG Capital Partners II (CIIG) to Combine with Zapp in $573M Deal

Nov 22, 2022 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

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Forest Road Acquisition Corp. II (FRXB) to Combine with HyperloopTT in $397M Deal

Nov 22, 2022 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

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DHC Acquisition Corp. (DHCA) Target Company GloriFi Winding Down

Nov 22, 2022 Headline Post, INTEL by Nicholas Alan Clayton

DHC Acquisition Corp (NASDAQ:DHCA) announced this morning that the leadership of its target company GloriFi have begun the process of winding down its operations.

The filing did not specify whether DHC was terminating its combination agreement, but this will presumably be void once the company no longer exists. ...READ MORE

Highland Transcend Partners I Corp. (HTPA) to Liquidate Trust

Nov 22, 2022 Headline Post, INTEL by Nicholas Alan Clayton

Highland Transcend I (NASDAQ:HTPA) announced this morning that it will redeem all public shares effective December 8 as it will not complete a business combination.

Shareholders are expected to receive a redemption rate of $10.06 per share and Highland Transcend I is to cease all operations other than its winding down efforts on December 7. ...READ MORE

The Latest Liquidations: November 21, 2022

Nov 21, 2022 INTEL, SPACs in the News by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC Liquidations: GigInternational 1 and HumanCo

GigInternational1 Announces Expiration of Exclusivity of Term Sheet for a Business Combination with Convalt Energy, Inc.

ACE Convergence (ACEV) Secures $100M Committed Equity Financing for Tempo Deal

Nov 21, 2022 Headline Post, INTEL by Marlena Haddad

ACE Convergence (NASDAQ:ACEV) announced this afternoon that it has secured a committed equity facility of up to $100 million with White Lion Capital.

Under the terms of the facility, White Lion Capital has committed to purchase up to an aggregate of $100 million in the post-closing combined company’s common shares from time to time after the completion of the business combination between electronics manufacturer Tempo Automation and ACE at the request of the post-closing combined company. ...READ MORE

The Latest SPAC News and Rumors: November 21, 2022

Nov 21, 2022 INTEL, SPACs in the News by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: Bitfufu among creditors of Sam Bankman-Fried’s FTX, tech startups shun Singapore and Hong Kong for U.S.

Industrial Tech Acquisitions II (ITAQ) to Combine with NXTCLEAN in $530M Deal

Nov 21, 2022 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Industrial Tech II (NASDAQ:ITAQ) has entered into a definitive agreement to combine with renewable energy producer NEXT Renewable Fuels, Inc. (“NEXT, “NXT” or the “Company”) at an enterprise value of $530 million, or 0.9x its 2025E EBITDA. ...READ MORE

PropTech Investment II (PTIC) Adds FPA to Appreciate Deal

Nov 21, 2022 Deal Announcements & Amendments, INTEL by Marlena Haddad

PropTech Investment II (NASDAQ:PTIC) announced this morning that it has entered into a forward purchase agreement (FPA) for an OTC Equity Prepaid Forward Transaction with Vellar Opportunity Fund for its recently approved combination with rental marketplace Appreciate. ...READ MORE

SPAC IPO Terms Tracker: Early Liquidation Proxies on the Rise

Nov 19, 2022 Headline Post, INTEL by sam.beattie

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