As many of you may or may not know, the SEC published the Nasdaq’s proposed changes to their listing requirements Wednesday and it is most certainly a reaction to the wild price swings of low-float stocks, such as Phunware (PHUN) and Hunter Maritime (HUNT). ...READ MORE
B. Riley Principal Merger Corp. (BRPM.U) re-filed their S-1 tonight and amended a few important terms. Of note, the SPAC life dropped to 18 months from their previously stated 24 months. ...READ MORE
Replay Acquisition Corp. (RPLA.U), announced the pricing of their $250 million SPAC IPO this evening and the units are expected to begin trading tomorrow, April 4th, under the symbol NYSE: RPLA.U. ...READ MORE
Replay Acquisition Corp. (RPLA.U), is getting set to price their $250 million Brazil/Argentina-focused SPAC tonight, with an 8-a12b filing along with their CERT. Replay will be the first SPAC out of the gate for Q2, but both B. ...READ MORE
To kick off the quarter, we have three SPACs currently getting ready to IPO and since SPACs tend to price in groups, another “comparison of terms” seemed warranted. To state the obvious, we’re going to call these three the “Q2 Kickoff SPACs”. ...READ MORE
Methodology:
In addition to the traditional methodology used whereby any bookrunner or lead manager gets full credit for IPO size to calculate deal volume, starting last quarter we added two new columns to the rankings - volume by number of units sold and volume sold % market shares (highlighted in green). For example, if SPAC-XYZ raised $500 million at IPO, and underwriter A sold $400 million of the same deal and underwriter B sold only $100 million, that’s how they will be credited. This methodology gives a more accurate window into the actual deal volume.
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Methodology: Each law firm is given full credit for the IPO size to calculate Deal Volume. Additionally, Deal Count is further broken out into Issuer's Counsel and Underwriter's Counsel to give greater visibility into into legal assignments. All data is initially sorted and ranked by Deal Volume, but each column is further sort-able by clicking on the arrow keys in the header cell of each column.
Wedneday evening, Tuscan Holdings Corp. (THCBU), debuted their $200 million SPAC focused on the cannabis industry and will be led by Stephen Vogel, as Chairman and CEO. ...READ MORE
Hunter Maritime, which is currently in the process of trying to complete their business combination with NCF Wealth Holdings Limited, announced that they have commenced a tender offer to purchase up to 2,173,750 of its Class A common shares at a purchase price of $10.215 per share. The ...READ MORE
Sentinel Energy Services announced this morning it has mutually terminated its transaction agreement with Strike Capital, LLC. The reason cited being market conditions.
The Energy sector has had a tough go of it since the Fall, so this announcement is somewhat unsurprising. ...READ MORE
Acamar Partners refiled their S-1 tonight and looks to be getting ready to IPO next week. However, there was one important change to Acamar’s terms – they added the Crescent Term with a threshold of $9.20. ...READ MORE
Monday evening, we had another new SPAC IPO filing, this time from serial SPAC issuer Daniel Hennessy. Hennessy Capital Acquisition Corp. IV (HCACU), will be focusing on industrial, infrastructure solutions and value-added distribution sectors in the United States and plans to raise $250 million. ...READ MORE
RMG Acquisition Corp. (RMG.U), announced the pricing of their $200 million SPAC IPO this evening and the units are expected to begin trading tomorrow, February 8th, under the symbol NYSE: RMG.U. ...READ MORE
Monocle Acquisition Corporation (MNCLU), announced the pricing of their $150 million SPAC IPO this evening and the units are expected to begin trading tomorrow, February 7th, under the symbol Nasdaq: MNCLU. ...READ MORE
Wednesday evening, we had a new SPAC IPO filing in the form of the $225 million Tortoise Acquisition Corp. Tortoise is being led by Vincent Cubbage, as CEO, President and Chairman of the Board of Directors. ...READ MORE
Monocle Acquisition Corporation (MNCLU), revised terms and re-filed their S-1 this morning. Notably, the amount held in trust increased to 101% or $10.10 per share. ...READ MORE
Wealthbridge Acquisition Limited (HHHHU), announced the pricing of their $50 million SPAC IPO this morning and the units are expected to begin trading today under the symbol Nasdaq: HHHHU.
Wealthbridge, which intends to focus on businesses in and around the air transportation and aviation industry in China, is being led by Yongsheng Liu, as Chairman and CEO. ...READ MORE
GTY Technology (GTYH), which has been pumping out 8-Ks at a furious pace lately, released another 8-K this morning announcing they have entered into an agreement to negotiate a strategic partnership with a global payment processing company 45 days from the closing of their business combination. ...READ MORE
Sentinel announced this morning that it has postponed its shareholder vote to complete it’s combination with Strike Capital, LLC. ...READ MORE
Pensare Acquisition Corp. (WRLS), announced this morning that they have entered into a definitive agreement to combine with TPx Communications, a provider of Unified Communications and cloud-focused Managed IT Services.
The transaction implies a combined company enterprise value of approximately $1.1 billion and a multiple of approximately 8.0x expected 2019 adjusted EBITDA. TPx’s ...READ MORE