The Latest SPAC News and Rumors: August 10, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Podcast: Dr. Denis Phares, CEO of Dragonfly Energy & Jonas Grossman CEO/Pres. of CNTQ
This week, we speak with Dr. Denis Phares, CEO of Dragonfly Energy and Jonas Grossman, CEO and President of Chardan NexTech Acquisition 2 Corp. (Nasdaq: CNTQ). The two announced a $501 million combination agreement in May. ...READ MORE
Equity Distribution Acquisition Corp (EQD) to Liquidate Trust
Equity Distribution Acquisition Corp. (NYSE:EQD.U) announced this afternoon that it will not complete a business combination and will instead redeem all shares.
The SPAC anticipates that the public shares will cease trading as of the close of business on September 16, 2022, and will redeem all of its outstanding shares effective as of the close of business on September 19. ...READ MORE
Embrace Change (EMCGU) Prices $65M IPO
Embrace Change Acquisition Corp. priced its $65 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EMCGU” Wednesday, August 10, 2022.
The new SPAC intends to identify companies in the technology, internet, and consumer sectors that have a mature and adaptable management team. ...READ MORE
The Latest SPAC News and Rumors: August 9, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: D-Orbit announces launch and deployment contract with Astrocast and Nogin partners with United Sports Brand
D-Orbit Announces Multi-Year Launch and Deployment Contract with Swiss Satellite Internet of Things (IoT) Network Operator Astrocast
D-Orbit, a space logistics company, announced today the signing of a multiple launch and deployment contract with Astrocast, a leading Swiss IoT-focused nanosatellite company. ...READ MORE
Mudrick Capital II (MUDS) Terminates Blue Nile Deal
Mudrick II (NASDAQ:MUDS) announced this morning that it has terminated its combination with online jewelry retailer Blue Nile.
The termination comes just weeks after the $683 million deal announcement, which was originally announced on June 13, and Blue Nile will now be subject to pay a hefty termination fee of up to $10 million, equal to Mudrick II’s expenses. ...READ MORE
The Latest SPAC News and Rumors: August 8, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Novibet announces agreement with Caesars Entertainment and Hyzon Motors falls after disclosing financial troubles
Novibet Provides Updates on North America Expansion Strategy Including Recent Agreement With Caesars Entertainment Granting Company New Jersey Market Access for iGaming and Online Sports Betting
Logflex MT Holding Limited (doing business as Novibet), an established, profitable, iGaming and Online Sportsbook provider operating in several countries across Europe, today provided an update on its progress toward furthering its North America expansion strategy. ...READ MORE
CHW Acquisition Corp. (CHWA) Adds FPA Post-Vote
CHW Acquisition Corp. (NASDAQ:CHWA), which saw its combination with pet-services marketplace Wag approved on July 28, announced a new forward purchase agreement to add financing.
This will keep about $24.6 million with the post-combination company as holders of 2,393,378 shares have agreed to sell these to CHW for $10.30 on the three-month anniversary of the deal’s close rather than redeem them for the pro rata trust amount. ...READ MORE
SPAC IPO Terms Tracker: Return of the SPAC IPO
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DPCM Capital (XPOA) Shareholders Approve D-Wave Systems Deal
DPCM Capital (NYSE:XPOA) announced in a press release this afternoon that its shareholders have approved its combination with quantum computing firm D-Wave Systems at a special meeting held August 2.
But, the SPAC’s 8-K filing disclosed that stockholders holding 29,097,787 shares of Class A Common Stock exercised their right to redeem for a pro rata portion of the funds in DPCM’s trust account. ...READ MORE
The Latest SPAC News and Rumors: August 5, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SPACs remain hotter than IPOs, Arrival halts electric bus and car projects, and WeWork posts smaller loss as office occupancy grows
SPACs remain hotter than IPOs
Fintech firm Seamless, which agreed to go public at an implied $400 million valuation via a SPAC called INFINT Acquisition Corp. (NYSE:IFIN), ...READ MORE
Founder SPAC (FOUN) Adds FPA of Up to $150M
Founder SPAC (NASDAQ:FOUN) announced this morning that it has entered into a forward purchase agreement (FPA) of up to $150 million to help secure its combination with Rubicon Technologies.
The parties gained approval of the deal at Founder SPAC’s special meeting August 2, but this move could reflect putting in protections in the event redemptions are higher than expected in conjunction with the completion vote. ...READ MORE
Top 3 SPAC Targets – Chip-Makers
SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among companies manufacturing chips and other components for the modern economy. We look at why they are compelling and why each could be a fit for a blank-check merger. ...READ MORE
Internal Battle Results in Resignations for Anzu Special Acquisition Corp I
It’s one thing to negotiate with a target company, but quite another when you have to negotiate with your own team. For Anzu Special Acquisition Corp. I (NASDAQ:ANZU), which filed an 8-K this afternoon, it appears that internal disagreements in regards to strategy have resulted in the loss of their CFO, General Counsel & Secretary, Chairman of the Board, and a Director, all of which have resigned. ...READ MORE
Pono Capital Two, Inc. (PTWOU) Prices $100M IPO
Pono Capital Two priced its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “PTWOU” Friday, August 5, 2022.
The new SPAC will focus its efforts on identifying a category defining company that is leveraging technology in large, growing, or established markets led by exceptional management teams, particularly in Japan. Pono ...READ MORE