SPAC IPO Terms Tracker: December 1, 2023
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Aimei Health Technology Co., Ltd (AFJKU) Prices $60M IPO
Aimei Health Technology Co., Ltd (NASDAQ: AFJKU) announced the pricing of its $60 million IPO this evening. Its units are expected to begin trading on the Nasdaq under the symbol “AFJKU” on Monday, December 4, 2023. ...READ MORE
PROOF Acquisition Corp I (PACI) Completes Volato Deal
PROOF Acquisition Corp I (NYSE: PACI) announced this afternoon that it has closed its business combination with private aviation company Volato after shareholders approved the deal at a meeting on November 28. ...READ MORE
Adit EdTech (ADEX) Shareholders Approve Griid Infrastructure Deal
Adit EdTech (NYSE: ADEX) announced this morning that its shareholders have approved its business combination with bitcoin self-mining company Griid Infrastructure at a special meeting held yesterday, November 30.
A total of 8,520,710 shares of common stock, representing approximately 95.7% of the outstanding shares entitled to vote, were present at the meeting, constituting a quorum to conduct business. ...READ MORE
Morning Roundup: December 1, 2023
At the SPAC of Dawn
There had been hopes that this week would take one world conflict off the board, but combat has resumed in the Middle East as other eyes are likely to be fixed on new Fed comments today. ...READ MORE
Chavant Capital (CLAY) Amends Mobix Labs Deal
Chavant Capital Acquisition Corp. (NASDAQ:CLAY) announced in an 8-K filing this afternoon that it has amended its business combination agreement with Mobix Labs.
The amendment involves specific alterations to the exchange ratio, now set at a one-to-one ratio to determine how many shares of Class A Common Stock and Class B Common Stock Mobix Labs’ capital interests will convert into. ...READ MORE
ShoulderUp Technology (SUAC) Signs LOI
ShoulderUp Technology (NYSE:SUAC) announced this afternoon that it has signed a non-binding letter of intent (LOI) to combine with an undisclosed private IT company and has terminated its previous LOI with Airspace Experience Technologies. ...READ MORE
SPAC Lock-Up Expirations to Watch in December 2023
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Innovative International (IOAC) Amends Zoomcar Deal
Innovative International (NASDAQ:IOAC) announced in an 8-K that it has removed its earnout shares in connection to its combination with car sharing program Zoomcar.
On November 30, IOAC and Zoomcar agreed to a letter agreement regarding the release of 20 million earnout shares, which were originally intended to be placed in an escrow account upon the consummation of the combination. ...READ MORE
Brilliant Acquisition Corporation (BRLI) “Finalizes”, Not Closes Nukkleus Deal
Nukkleus (OTC:NUKK) announced “the completion of its strategic merger” with Brilliant (NASDAQ:BRLI) this morning, which has caused some ripples in the market, but it does not appear to represent an actual closing of the business combination. ...READ MORE
ClimateRock (CLRC) Terminates EEW Deal
ClimateRock (NASDAQ: CLRC) announced this morning that it has terminated its business combination with solar plant developer EEW.
The SPAC noted that it decided to part ways with its target since the conditions to closing were not satisfied or waived by the outside date of September 30. ...READ MORE
10X Capital Venture II (VCXA) Tweaks African Agriculture Terms, Funding Ahead of Vote
10x Capital Venture II (NASDAQ:VCXA) filed a variety of changes to its combination with African Agriculture while also postponing its completion vote to 8 am ET December 5.
The tweaks waive African Agriculture’s requirement to secure an offtake agreement and also shift 3,000,000 shares to a bonus pool for all combined company shareholders. ...READ MORE
Morning Roundup: November 30, 2023
At the SPAC of Dawn
Pono Capital Three (NASDAQ:PTHR) is the latest SPAC to try and bring an eVTOL target in for landing, and, as a part of its final flight checks, it dropped its first full investor presentation for its target Horizon yesterday. ...READ MORE
CF Acquisition Corp. VIII (CFFE) Completes XBP Europe Deal
CF Acquisition Corp. VIII (NASDAQ:CFFE) announced this afternoon that it has completed its combination with B2B software firm Exela Technology’s European operations.
Although shareholders had previously approved the deal during a special meeting on August 24, no specific timeline for its next steps had been disclosed at that time. ...READ MORE
DUET Acquisition Corp. (DUET) to Combine with Fenix 360 in $610M Deal
DUET Acquisition Corp. (NASDAQ:DUET) has signed a business combination agreement with social media firm Fenix 360 at an enterprise value of $610 million.
Singapore-based Fenix 360 is developing an app-based social media platform designed for artists to better engage with fans and monetize interactions. ...READ MORE
PROOF Acquisition Corp I (PACI) Shareholders Approve Volato Deal
PROOF Acquisition Corp I (NYSE: PACI) announced this morning that its shareholders have approved its business combination with private aviation company Volato at a special meeting held on November 28.
Approximately 97% of the votes cast at the meeting were cast in favor of the approval of the deal. ...READ MORE
Morning Roundup: November 29, 2023
At the SPAC of Dawn
Filings after the bell yesterday provided another three-liquidation day for SPACs bringing this week’s tally to four and extending a streak of five straight weeks with four to five liquidations each week. ...READ MORE
Plum Acquisition Corp. I (PLMI) to Combine with Veea in $281M Deal
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L Catterton Asia Acquisition Corp (LCAA) Adds $750M to Lotus Deal
L Catterton Asia (NASDAQ:LCAA) announced this morning that it has upsized the committed financing in its combination with EV sports car maker Lotus to $870 million in total.
The latest fuel injection comes in the form of $750 million in convertible notes and PIPE commitments under so far undisclosed terms. ...READ MORE
Morning Roundup: November 28, 2023
At the SPAC of Dawn
SPAC closing timelines can always be somewhat unpredictable, but PROOF I (NYSE:PACI) has the opportunity today to vie for a recent speed record today.
It announced a combination with private aviation firm Volato 118 days ago on August 2 and its shareholders are set to vote to approve the combination later today. ...READ MORE