FinTech V (FTCV) Terminates eToro Deal

FinTech V (NASDAQ:FTCV) announced this morning that it has mutually terminated its combination agreement with social investing network eToro.

While most SPACs that have recently terminated their deals have pointed towards current market conditions as the main culprit, Fintech V disclosed that it was unable to meet certain closing conditions and specifically, “the Company’s registration statement, within the timeframe outlined by the Merger Agreement and as extended by the Merger Agreement Amendment”. ...READ MORE

The Latest SPAC News and Rumors: July 1, 2022

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

Latest SPAC News: eToro to abandon Fintech V deal, NYSE pitches US listings to Middle Eastern tech firms, and experts say lack of education threatens future of SPACs in UAE

Israel eToro to abandon deal to go public via SPAC merger

Online brokerage eToro and Betsy Cohen-backed blank-check firm FinTech Acquisition Corp V (NASDAQ:FTCV) are planning to let the Thursday deadline for their merger pass without closing the deal, The Information reported, citing a person familiar with the matter. ...READ MORE

Energy Vault (NRGV) Announces Redemption of Warrants

Energy Vault (NYSE: NRGV) announced this morning that it will be redeeming its outstanding warrants for shares.

Warrantholders have until 5 pm EST on Monday, August 1 to exercise their warrants and any warrants that remain unexercised immediately after the deadline will be void and no longer exercisable. ...READ MORE

USHG Acquisition Corp. (HUGS) Discontinues Panera Brands Partnership

USHG (NYSE:HUGS) announced this morning that it would not extend an agreement to partner in an IPO for restaurant operator Panera announced in November.

Always something of an oddity, USHG’s plan bore some semblance to Pershing Square Tontine’s (NYSE:PSTH) bid to join in Universal Music’s (AS:UMG) Amsterdam IPO. ...READ MORE

G3 VRM Acquisition Corp. (GGGVU) to Liquidate Trust

G3 VRM Acquisition Corp. (NASDAQ:GGGVU) announced this morning that it will dissolve and liquidate its trust.

Following the close of business on July 6, public shares will be cancelled and will represent only the right to receive the redemption amount of $10.15, at which time the G3 VRM anticipates that its securities will cease trading on The Nasdaq. ...READ MORE

North Atlantic (NAAC) Terminates TeleSign Deal

North Atlantic (NASDAQ:NAAC) announced this afternoon that it has mutually terminated its combination agreement with communications platform Telesign, effective immediately.

Similar to a handful of other SPACs we’ve seen, North Atlantic cited current market conditions as the root of the termination. ...READ MORE

Kismet Acquisition Two Corp. (KAII) Sponsor Sells Entire Interest to Quadro

Kismet Two (NASDAQ:KAII) has sold all of its sponsor economics to Quadro Sponsor LLC, including 6,250,000 promote shares and 4,400,000 warrants.

The new sponsor will be led by Dimitri Elkin who is signing on as CEO and will also serve as the company’s principal financial and accounting officer. ...READ MORE

Top 3 SPAC Targets – Music

SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among companies in the music industry. We look at why they are compelling and why each could be a fit for a blank-check merger. ...READ MORE

BurTech (BRKH) & Chavant Capital (CLAY) Announce Non-Binding LOIs

BurTech Acquisition Corp. (NASDAQ:BRKHU) and Chavant Capital (NASDAQ:CLAYU) both announced this afternoon that they have signed non-binding letters of intent ahead of the long weekend.

BurTech’s 8-K referenced a Bloomberg news article that was published earlier this week which disclosed its non-binding LOI with Indian digital entertainment and technology company JetSynthesys. ...READ MORE

Isleworth Healthcare (ISLE) Terminates Cytovia Deal

Isleworth (NASDAQ:ISLE) announced this afternoon that it has mutually terminated its combination agreement with biopharmaceutical company Cytovia.

Although the press release was short on details, it is likely the parties decided to terminate for the same reason a number of other SPACs recently have, which pertains to the headwinds in the SPAC market as well as general market volatility. ...READ MORE

The Latest SPAC News and Rumors: June 30, 2022

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

Latest SPAC News: Enjoy Technology files for bankruptcy, D-Orbit signs launch and deployment contract with Kepler Communications and Bird CEO steps down as president 

SPAC Led by Former Apple Executive Goes Bankrupt Less Than a Year After Going Public

Enjoy Technology Inc. ...READ MORE

Far Peak (FPAC) Extends Outside Date & Terminates PIPE

Far Peak (NYSE:FPAC) announced this afternoon that it has extended its Outside Date to complete its business combination with cryptocurrency exchange Bullish to December 31, 2022. However, it was also noted in the press release that the PIPE investors, which were contributing $300 million, will terminate on the current Outside Date of July 8, 2022. ...READ MORE

The Latest SPAC News and Rumors: June 29, 2022

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

Latest SPAC News: SPAC listings nudge Singapore IPO market to busiest in years, Wall Street banks pull back from Middle East SPACs on SEC clampdown, and Germany aims to make SPACs more attractive

SPAC listings nudge Singapore IPO market to busiest H1 in 5 years

The 3 recently listed SPACs have generated “strong interest” and raised a total of IPO proceeds of about S$528 million, leading Singapore’s IPO market to its busiest half year in five years, according to a PwC Singapore report released on Tuesday (Jun 28). ...READ MORE

Northern Lights (NLIT) Shareholders Approve Safe Harbor Deal

Northern Lights (NASDAQ:NLIT) announced in an 8-K this morning that its shareholders approved its combination with cannabis finance provider Safe Harbor at a special meeting held yesterday afternoon.

The filing did not include final redemption figures or a timeline for close, but as of yesterday the SPAC faced 66.2% redemptions. ...READ MORE

Agrico (RICO) Shareholders Approve Kalera Deal

Agrico Acquisition Corp.  (NASDAQ:RICO) announced that its shareholders have voted to approve its combination with indoor farming company Kalera (OL:KAL) in a special meeting held yesterday.

The approval comes as no surprise as the SPAC announced a preliminary shareholder approval on Friday afternoon. ...READ MORE