Leo Holdings Corp. (LHC) to Combine with Digital Media Solutions

Leo Holdings Corp. (LHC), announced today that they have signed a definitive business combination agreement with Digital Media Solutions Holdings, LLC (“DMS”).  The Business Combination will introduce DMS to the equity capital markets as a publicly listed company with a total enterprise value of $757 million or 13.2x the Company’s fiscal year 2020 expected Adjusted EBITDA of $57 million and 10.0x the Company’s fiscal year 2021 expected Adjusted EBITDA of $75 million. ...READ MORE

Social Capital Hedosophia Upsizes IPOC.U, for $720M in Gross Proceeds

Social Capital Hedosophia Holdings Corp. III (IPOC.U), announced the pricing of their upsized $720 million SPAC IPO this evening and the units are expected to begin trading tomorrow, Wednesday, April 22nd, under the symbol NYSE: IPOC.U. ...READ MORE

Social Capital Hedosophia to Price IPOC.U Tonight

Well, well, well…..looks like Social Capital Hedosophia, will beat Chardan Healthcare 2 to the punch by being the first IPO out the door post-Covid lockdown.  Social Capital Hedosophia intends to price the larger of their two deals tonight (IPOC.U), ...READ MORE

Legacy Acquisition Corp. (LGC) to Adjourn Vote to Secure PIPE

Legacy Acquisition Corp. (LGC), announced this morning that they intend to adjourn their shareholder vote to combine with Blue Impact, originally scheduled to be held this Thursday, April 23rd.  The new date will be Monday, May 18, 2020, while keeping the record date of March 20, 2020. ...READ MORE

UPDATED: Alberton Acquisition Corp. (ALAC) Revises Extension Contribution

[UPDATED]

It seems Alberton will NOT be providing an additional $60,000 per month contribution.  Rather, it’s in lieu of the original $0.02 per month contribution.  This changes things considerably….

So now it’s back to game theory again.  ...READ MORE

Graf Industrial (GRAF) Releases Extension Vote Results

This afternoon, Graf Industrial Corp. (GRAF), released the details of their shareholder vote, held today, to approve moving their previously extended deadline from April 16, 2020, to July 31, 2020.

Per the 8-K, 12,921,275 public shares exercised their right to redeem at a price of approximately $10.23 per share and as a result, roughly $132.2 million was removed from the trust account, or about 53%. ...READ MORE

Diamond Eagle (DEAC) Adjourns Shareholder Vote

As expected, Diamond Eagle Acquisition Corp. (DEAC), announced this evening that they had adjourned their previously scheduled shareholder vote to combine with DraftKings and SBTech, originally scheduled to be held today, to April 23rd. ...READ MORE

Graf Industrial Corp. (GRAF) Announces its in “Negotations” to Combine

This evening, in a very surprisingly timed announcement, Graf Industrial Corp. (GRAF), announced it is in “negotiations” to combine with a polypropylene recycling company. GRAF is currently scheduled to hold an extension vote on April 16th, to extend to July 31st, 2020, so this is a teaser for shareholders who are considering redeeming at next week’s vote.  ...READ MORE

Fellazo Inc. (FLLC), Opts to Liquidate Trust

Fellazo Inc. (FLLC), which was recently de-listed from the Nasdaq, announced this afternoon that it would be opting to liquidate its trust and wind down the company.  The reason given was not due to Covid-19, but rather, Fellazo stated, “…in view of the recent determination by the Nasdaq hearing panel to delist the Company’s securities from The Nasdaq Stock Market, the Company does not believe it will be able to consummate an initial business combination within the time period required…“

Fellazo had previously provided an update via a press release whereby the Company said it was exploring various alternatives in light of the de-listing, including liquidation, so this is not a total surprise. ...READ MORE

KBL Merger Co. IV Releases Extension Vote Info

This afternoon, KBL Merger Co. IV (KBLM), released the details of their shareholder vote, held today to approve moving their previously extended deadline from April 9, 2020, to July 9, 2020. ...READ MORE

Diamond Eagle (DEAC) Amends Business Combination Agreement

And…it appears they intend to adjourn their Shareholder vote and reconvene at a later date in April.

Diamond Eagle Acquisition Corp. (DEAC), which originally intended to hold their shareholder vote tomorrow to complete their combination with DraftKings and SBTech, amended their Business Combination Agreement yesterday.  ...READ MORE

Covid-19 Social and Economic Indicators

This is an especially slow week.  We have Passover beginning on Wednesday, then Good Friday, followed by Easter at the end the week. So normally this would be a quiet time to begin with, but throw in a global pandemic and you would be hard pressed to find much of anything going on in SPAC Land right now. ...READ MORE

Nikola Corporation: The Next Step in Being Public

Nikola Corporation, which filed its Analyst Day presentation on Friday, April 3rd, goes into greater detail of the Business model presented in early March when Nikola Motor announced the business combination with VectoIQ. ...READ MORE

VectoIQ Files A New Presentation Allowing For Deeper Dive Into the Business Model

This morning VectoIQ, which intends to combine with Nikola Motors, filed an 8-K this morning containing a new presentation slide deck. This deck is intended to accompany the analyst day scheduled for Monday, April 6. ...READ MORE

Pure Acquisition Corp. (PACQ) Releases Results of Warrant Tender

Pure Acquisition Corp. (PACQ), announced the results of its warrant tender this afternoon and as expected, a significant number of warrant holders opted to tender at this go-around. If you recall, Pure previously tendered its warrants twice before, both times for $1.00, same as for the current tender offer. ...READ MORE

Allegro Merger Corp. Announces Termination of Agreement, Liquidating

Covid-19 claims its second SPAC.

Allegro Merger Corp. (ALGR), announced this morning it has mutually terminated its merger agreement with TGI Fridays.  Once again, the reason cited being, “extraordinary market conditions“, as well as the failure to meet necessary closing conditions. ...READ MORE