SPACs Eye Return to Space as Sentiments Shift

Apr 12, 2024 Headline Post, INTEL, New S-1 Filings by Nicholas Alan Clayton

The SPAC boom of 2020-2021 brought the asset class into sectors they had never entered before and that had generated few if any public companies of any kind. Space was one of these, but it appeared to be a passing fascination as soon as macro financial winds changed.

Morning SPAC News Roundup: April 12, 2024

Apr 12, 2024 Headline Post, SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn As portions of the market rallied suddenly yesterday from Wednesday’s inflation gloom, LiveWire (NYSE:LVWR) was among the surprising gainers. The manufacturer of electric motorcycles that spun out from Harley Davidson in a 2022 SPAC deal with AEA-Bridges has never been among the flashiest EV de-SPACs, but it has quietly provided
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Podcast: DevvStream Co-Founder/CEO Sunny Trinh & Carl Stanton, CEO of Focus Impact (FIAC)

Apr 12, 2024 Headline Post, INTEL, Podcasts & Webinars by Kristi Marvin

SPACs have brought a number of sustainability companies to market, but the economics of carbon credits have always been on the edge of those specific opportunities.

Focus Impact Acquisition Corp. (NASDAQ:FIAC) aims to change that with its $213 million combination with DevvStream, a Canadian company focused on generating carbon credits with proprietary technology-based approaches.

Morning SPAC News Roundup: April 11, 2024

Apr 11, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn Yesterday’s high CPI readings may have dampened hopes of summer rate cuts, but the public markets do seem increasingly content to shoot towards the cosmos in terms of the new types of companies they hope to welcome. SPACs have been a major part of commercial space ventures accessing public capital,
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NYSE Proposes Rule Change Allowing SPACs to List up to 42 Months

Apr 10, 2024 Headline Post, INTEL by Kristi Marvin

In a surprise move, the NYSE has proposed a rule change to its listing standards to allow SPACs to continue listing up to an additional six months beyond the current 36. However, this is only if the SPAC has signed a definitive agreement prior to the 36 month deadline. As background, both the Nasdaq and
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Morning SPAC News Roundup: April 10, 2024

Apr 10, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn While the dealmaking environment appears to be improving in the US, there are changes afoot down under that could have both positive and negative effects for SPAC deals completed in Australia. The country has hosted five SPAC transactions over the past two years, which has made it a low-key popular
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Blockchain Coinvestors Acquisition Corp. I (BCSA) to Combine with Linqto in $700M Deal

Apr 9, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Blockchain Coinvestors Acquisition Corp. I (NASDAQ:BCSA) has entered into a definitive agreement to combine with fintech firm Linqto at an enterprise value of $700 million. San Jose, California-based Linqto provides a platform for investors to invest in private venture-backed startups. The combined company is expected to trade on the Nasdaq once the deal is completed
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Morning SPAC News Roundup: April 9, 2024

Apr 9, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn As noted in Monday’s morning roundup, SPAC activity has slowed to start April, but one of today’s votes is notable for a variety of reasons. Screaming Eagle (NASDAQ:SCRM) shareholders are set to vote on the fourth-largest deal by enterprise value that has been announced since the start of 2023. The
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JVSPAC Acquisition Corp. (JVSA) to Combine with Hotel101 in $2.3Bn Deal

Apr 8, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

JVSPAC (NASDAQ:JVSA) has entered into a definitive agreement to combine with Philippines hospitality firm Hotel101 at an equity value of about $2.3 billion. Hotel101 is a subsidiary of Manila-based budget hospitality brand of conglomerate DoubleDragon that is focused on providing standardized hotel rooms across its full network. The combined company is expected to begin trading
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Podcast: Sky Harbour CFO Francisco Gonzalez

Apr 8, 2024 Headline Post, INTEL, Podcasts & Webinars by Kristi Marvin

SPAC deals have provided a variety of ways to try and ride the growth in the private aviation space. One of the most successful so far has been to approach it not through the aircraft or sales of flights, but as an infrastructure play.

Morning SPAC News Roundup: April 8, 2024

Apr 8, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn The pace of votes has slowed as the calendar turns into the second week of April with three completion and extension votes each. Roth CH (NASDAQ:USCT) is also holding its vote to convert to a non-SPAC shell without a trust. This momentary slowdown isn’t necessarily a sign that the backlog
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SPAC IPO Terms Tracker: April 5, 2024

Apr 6, 2024 Headline Post, INTEL by Kristi Marvin

Terms Tracker for the Week Ending April 5, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. There are slow weeks, and then there are s-l-o-w weeks. This past one being in the latter camp. However, next week promises to be a
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A Close Look at the 2021 IPOs and SPAC Underwriter Performance

Apr 5, 2024 Headline Post, INTEL by Nicholas Alan Clayton

The financial press may not always jump at the chance to tell SPAC success stories and given that de-SPACs frequently have a period of post-close churn, the most recent deals tend to confirm the mainstream’s priors. But, given time to prove themselves to the market, a great deal of de-SPACs from the boom year of
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Morning SPAC News Roundup: April 5, 2024

Apr 5, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn A busy week of Fed chatter culminates this week with an update on March’s job numbers at 8:30 am ET, which economists expect to come in at 275,000 new jobs added. Of course, great job news is not necessarily great rate cut news, but there has been increasing suspicion that
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Morning SPAC News Roundup: April 4, 2024

Apr 4, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn After a couple months of smaller IPOs with an overall inconclusive performance, the debuts of Reddit (NYSE:RDDT) and Astera (NASDAQ:ALAB) have seemingly put the first real wind into the sails of the IPO market. 2024 is now officially having the best start of the year for fresh IPOs since 2019
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Morning SPAC News Roundup: April 3, 2024

Apr 3, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn While a handful of de-SPACs have captured investor excitement in the bottle after close, it has seemed as though the days of SPACs trading significantly above their trust value before close were a particularity of the 2021 high times. The lone exception was of course Digital World, but AltC (NYSE:ALCC)
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Cactus Acquisition Corp. 1 (CCTS) Inks $838M LOI to Combine with Tembo

Apr 2, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Cactus Acquisition Corp. 1 (NASDAQ:CCTS) has signed a binding heads of agreement to exclusively negotiate to combine with EV maker Tembo in a deal currently giving the firm an $838 million equity valuation. A “binding heads of agreement” is a more common phrase in the UK, where Tembo and its parent company VivoPower (NASDAQ:VVPR) are
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Morning SPAC News Roundup: April 2, 2024

Apr 2, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn The ability to place bets on the companies that could emerge to be fresh new competitors to Tesla is a big part of what drove the “Deals with Wheels” period of SPAC transactions in 2020 and 2021. But, outside of a few niche wearables plays, SPACs have generally not sought
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March Corporate Actions Analysis

Apr 1, 2024 Headline Post, INTEL by Anthony Sozzi

As the quarter comes to an end, there seems to be no slowing down amongst teams asking shareholders to approve additional times for them to complete business combinations. The “time to complete” appears to be slipping away for most teams as the time runs out and trust accounts slowly deplete after allowing for numerous extensions.
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Morning SPAC News Roundup: April 1, 2024

Apr 1, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn The first week of April starts off with a bang with three completion votes and an extension today, but all four of these votes have already been postponed at least once, so further delays would not be unexpected. One sector that is certainly hoping for fewer bangs is the commercial
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