Aesther Healthcare (AEHA) to Combine with Ocean Biomedical in $345M Deal
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Podcast: Raj Suri, Founder & CEO of Presto
This week, we speak with Raj Suri, Founder and CEO of Presto. Presto entered into a $634 million combination agreement with Ventoux CCM Acquisition Corp. (NASDAQ:VTAQ) in November 2021.
If you’ve ordered a fast-food meal using a smart touch screen or talking to a voice AI recently, there’s a good chance Presto made that order happen. The ...READ MORE
Warrior Technologies Acquisition Company (WARR) to Liquidate Trust
Warrior Technologies (NYSE:WARR) announced this afternoon that it will not complete a business combination and will instead redeem all shares.
The SPAC, which announced the pricing of its upsized $240 million IPO in February 2021, will now dissolve and liquidate its trust, effective as of the close of business on September 2. ...READ MORE
The Latest SPAC News and Rumors: August 30, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Amazon seller Packable to shut down in bankruptcy, and Otonomo to lay off dozens after losing 90% of value
Amazon Seller Packable to Shut Down in Bankruptcy After SPAC Deal Sinks
Packable Holdings LLC, a Carlyle Group-backed e-commerce platform valued at more than $1 billion less than two years ago, is shutting down in bankruptcy after it failed to go public through a merger with Highland Transcend Partners I Corp.
GigInternational1 (GIW) Announces Term Sheet with Convalt Energy
GigInternational1, Inc.(NASDAQ:GIW) announced this morning that it has entered into a non-binding term sheet to combine with renewable, manufacturing and power generating company Convalt Energy.
Convalt, a portfolio company of ACO Investment Group, focuses on power generation, transmission, and solar manufacturing development within the United States. ...READ MORE
North Mountain (NMMC) Terminates Corcentric Deal
North Mountain Merger Corp. (NASDAQ:NMMC) announced this afternoon that it has mutually terminated its combination with commerce solutions provider Corcentric, effective immediately.
Similar to most SPACs, North Mountain’s proposed merger was impacted by unfavorable market conditions resulting in the termination of the deal. The ...READ MORE
The Latest SPAC News and Rumors: August 29, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: New 1% excise tax on stock buybacks may have consequences for SPACs, investors and sponsors find ways to improve deal integrity, and DWAC falls as shareholders weigh delaying merger
New 1% Excise Tax on Stock Buybacks May Have Far-Reaching Consequences for Capital Markets, SPAC and M&A Transactions
On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022, H.R. ...READ MORE
Tailwind Acquisition Corp. (TWND) Adds $5M Note to NUBURU Deal
Tailwind (NYSE:TWND) announced this morning that it has secured over $5 million of convertible promissory notes in connection to its combination with manufacturing equipment-maker NUBURU.
The notes will convert into shares of NUBURU common stock immediately prior to the closing of the business combination, which will convert into common stock of the combined company. ...READ MORE
Aurora Acquisition Corp. (AURC) Revises Better Deal Again
Aurora (NASDAQ:AURC) announced its fourth tweak to its combination with homebuying marketplace Better, which includes an extension of the deal’s outside date to March 8, 2023.
Better must also cover up to $15 million in expenses for Aurora, half of which must be delivered within five days of this agreement, and the remainder in two $3.75 million tranches on January 2 and March 8. ...READ MORE
Westrock Coffee (WEST) Signs $350M Credit Agreement
Westrock Coffee (NASDAQ:WEST) announced this morning that it has entered into a new credit agreement after closing its business combination with Riverview Acquisition Corp. today.
The coffee and tea supplier will now have access to $350 million in debt capital that includes a $175 million senior secured first lien term loan facility and a $175 million senior secured first lien revolving credit facility. ...READ MORE
Cohn Robbins Holdings (CRHC) Secures $260M Backstop for Allwyn Deal
Cohn Robbins (NASDAQ:CRHC) announced that it has secured a $260 million backstop for its combination with Swiss lottery operator Allwyn.
European investment group PPF has agreed to buy up to 26,000,000 shares at $10 per share as needed, adding to 4,000,000 it already owns. ...READ MORE
African Gold Acquisition Corporation (AGAC) Discloses Improper Withdrawals of Funds
African Gold (NYSE:AGAC) disclosed in an 8-K over the weekend that its management recently detected improper withdrawals from the company’s bank accounts and CFO Cooper Morgenthau has been terminated as a result. ...READ MORE
SPAC IPO Terms Tracker: Rounding Out August
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Lakeshore I (LAAA) Secures $30M for ProSomnus Deal
Lakeshore Acquisition I Corp. (NASDAQ:LAAA) has signed definitive agreements for $30 million in convertible notes for its combination with medical device company ProSomnus.
The recent commitment of debt financing comes from institutional investors led by funds affiliated with or managed by Cohanzick Management, LLC and CrossingBridge Advisors, LLC, but the closing of the notes are conditioned upon the closing of the business combination prior to December 10, 2022. ...READ MORE
The Latest SPAC News and Rumors: August 26, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: GE sells generator technology to Hyliion, Trump’s Truth Social faces financial fallout, and Royalty Management partners with Land Betterment
GE Sells Generator Technology for Stake in EV Startup
General Electric Co. ...READ MORE
REE Automotive (REE) Calls All Outstanding Warrants
REE Automotive (NASDAQ:REE) has commenced an exchange offer to convert all outstanding warrants for 0.20 class A ordinary shares.
At REE’s last closing price of $1.34, this equates to $0.268 in value per warrant, although the company’s shares have since dipped in the pre-market on the news. ...READ MORE
Podcast: Stuart Landesberg, Founder & CEO of Grove Collaborative (GROV)
We spoke with Stuart Landesberg, Founder and CEO of Grove Collaborative (NYSE:GROV). Grove produces a line of sustainable and plastic-free home and personal care goods and it closed a $1.5 billion combination with Virgin Group Acquisition Corp. ...READ MORE