SPAC IPO Terms Tracker: Approaching Q4 2022
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Digital World (DWAC) Loses $138.5M of PIPE Investors
Digital World (NASDAQ:DWAC) revealed in an 8-K filed this afternoon that $138.5 million worth of investors in their $1 billion PIPE have opted to not participate going forward.
The original $1 billion convertible preferred had an Outside Date of September 20, 2022, at which time any of the PIPE investors could terminate their respective subscription agreements. ...READ MORE
Silver Crest (SLCR) Revises Redemption Numbers for Tim Hortons China Deal
Silver Crest (NASDAQ:SLCR) disclosed in an 8-K this afternoon that it has revised its shares presented for redemption in connection with its combination with Tim Horton International (“THIL”)
Although Silver Crest held its special meeting to vote on its proposed merger on August 19, shareholders had until August 29 to reverse their redemption decisions. ...READ MORE
TPG Pace Beneficial Finance Corp. (TPGY) to Liquidate Trust
TPG Pace Beneficial Finance (NYSE:TPGY) announced in an 8-K this afternoon that it intends to liquidate its trust after being unable to complete a business combination.
The SPAC will instead redeem all of its outstanding Class A ordinary shares, effective as of October 11, 2022, and expects the last trading day for its shares to be on October 7. ...READ MORE
The Latest SPAC News and Rumors: September 23, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SPAC deal makes CEO of Rumble a billionaire, Cano Health explores sale after receiving buyout interest, and Givaudan and LanzaTech announce collaboration
SPAC Deal Makes CEO of Conservative Video Platform a Billionaire
A SPAC deal has made the founder of a conservative social media platform a billionaire — and it’s not Donald Trump. ...READ MORE
The Latest SPAC News and Rumors: September 22, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Digital World receives push-back in PIPE investor talks; Plaintiff lawyers increase focus on SPAC suits; Xos expands mobile EV-charger offerings
Trump-linked SPAC faces new pressure from PIPE investors as merger hangs in the balance
The Financial Times reported Tuesday that DWAC Chief Executive Patrick Orlando is negotiating with investors who said they would back the company through a private investment in public equity, or PIPE, deal. ...READ MORE
IG Acquisition Corp. (IGAC) to Combine with PlayUp in $399M Deal
IG Acquisition Corp. (NASDAQ:IGAC) has entered into a definitive agreement to combine with mobile gaming platform PlayUp at an enterprise value of $399.7 million, or 10.9x its 2022E gross revenue.
Sydney, Australia-based PlayUp is a mobile and online betting and fantasy sports platform currently expanding into the US market. ...READ MORE
Podcast: ProSomnus & Lakeshore I (LAAA) Discuss Sleep Apnea, the Med Device Sector and SPACs
This week, we speak with Len Liptak, CEO of ProSomnus Sleep Technologies, which announced a $168 million combination with Lakeshore Acquisition I Corp. (Nasdaq: LAAA), in May.
ProSomnus has developed a new device to treat obstructive sleep apnea that disrupts the need for its millions of sufferers to be connected to ventilators at night. ...READ MORE
The Latest SPAC News and Rumors: September 21, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Cano Health buys Doctor’s Medical Center for $300M, Ouster lays off 10% of staff, and Coeptis enters license agreement with University of Pittsburgh
Cano Health buys Doctor’s Medical Center for $300M to cement its primary care business in Florida
Miami-based Cano Health announced today the acquisition of fellow primary care provider Doctor’s Medical Center in a bid to grow its Medicare, Medicaid and Affordable Care Act (ACA) exchange memberships in South Florida. ...READ MORE
Avalon Acquisition Inc. (AVAC) to Combine with The Beneficient Company in $3.5Bn Deal
Avalon (NASDAQ:AVAC) has entered into a definitive agreement to combine with financial services firm The Beneficient Company Group, or Ben, at an enterprise value of about $3.5 billion.
The Dallas-based company provides customers options to exit alternative investments early via structures designed for high-net-worth individuals and small institutions. ...READ MORE
5:01 Acquisition Corp. (FVAM) to Liquidate Trust
5:01 Acquisition Corp. (NASDAQ:FVAM) announced in a press release this afternoon that it intends to liquidate its trust after being unable to complete a business combination.
The SPAC will instead redeem its shares and the public shareholders are expected to receive their pro rata share of the trust at $10.00 per share. ...READ MORE
North Mountain Merger Corp. (NMMC) to Liquidate Trust
North Mountain Merger Corp. (NASDAQ:NMMC) announced in a press release this afternoon that it will not be able to complete a business combination and will instead liquidate its trust.
The SPAC, which had 24 months on its clock to complete a deal, will cease trading on September 30 and shareholders are expected to receive their pro rata share of the trust estimated at $10.00 per share. ...READ MORE
The Latest SPAC News and Rumors: September 20, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Nikola CEO says he learned debut truck lacked power after he joined, Opendoor hit with losses amid Zillow collapse, and Bitdeer buys Asia’s ‘Fort Knox’
Nikola CEO Says He Learned Debut Truck Lacked Power After He Joined
Nikola Corp.’s ...READ MORE
FoxWayne Enterprises Acquisition Corp. (FOXW) to Combine with Clover in $157M Deal
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Social Capital Hedosophia Holdings IV (IPOD) and VI (IPOF) to Liquidate
Social Capital IV (NYSE:IPOD) and Social Capital VI (NYSE:IPOF) each announced in 8-K filings this morning that they intend to not complete business combinations and will instead liquidate their trusts on October 17. ...READ MORE
Global Star Acquisition, Inc. (GLSTU) Prices $80M IPO
Global Star Acquisition, Inc. priced its $80 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GLSTU” Tuesday, September 20, 2022.
The new SPAC intends to focus its efforts on Fintech and Proptech businesses that offer technology solutions, broader technology software, services or products to the financial services or real estate industries. ...READ MORE
The Latest SPAC News and Rumors: September 19, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: DWAC fails to pay proxy solicitors, and Ocean Biomedical discovers new therapy that can potentially kill cancerous cells
Trump SPAC fails to pay proxy firm despite tough hunt for votes, Financial Times reports
Executives behind a SPAC Digital World Acquisition Corp (NASDAQ:DWAC) that plans to take Donald Trump’s media business public have failed to pay their proxy solicitors, The Financial Times reported on Saturday. ...READ MORE
Getty Images (GETY) Calls All Outstanding Warrants
Getty (NYSE:GETY) announced this morning that it will redeem all outstanding warrants for $0.01 per warrant at 5 p.m. on October 19.
This move is not being accompanied by a warrant exchange offer because of just how hot the de-SPAC has been trading over the past month. ...READ MORE
Roth CH Acquisition IV Co. (ROCG) Ends Exclusivity with LOI Target
Roth CH IV (NASDAQ:ROCG) announced in an 8-K this morning that its letter of intent (LOI) to combine with a target company is no longer exclusive.
The SPAC noted that negotiations for the deal remain ongoing, but both parties may seek out other transactions. ...READ MORE
SPAC IPO Terms Tracker: More of the Same for September
Terms Tracker for the Week Ending September 16th, 2022
Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings.
For the week ending September 16th, there were just two new S-1 registration statements, up from the zero seen last week, and zero IPOs, one less than the week prior. ...READ MORE