The Latest SPAC News and Rumors: November 25, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Venus Acquisition Corp. (VENA) Secures $25M Backstop for VIYI Algorithm Deal
Venus Acquisition Corp. (NASDAQ:VENA) announced this afternoon that it has secured an investor for a backstop agreement in connection to its business combination with VIYI Algorithm.
Venus and its sponsor, Yolanda Management Corporation, entered into a backstop agreement with Joyous JD Limited to purchase VENA shares from third parties through a broker in the open market, or through privately negotiated transactions, including from SPAC shareholders that had elected to redeem shares.
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The Latest SPAC News and Rumors: November 23, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Cilo Cybin flops after failing to lure South Africa investors, DWAC wins shareholder support for one year extension, and Watersight adds global companies to AquaRing pilot program
Cannabis SPAC Flops After Failing to Lure South Africa Investors
Cilo Cybin Holdings Ltd.,
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ACE Convergence Acquisition Corp. (ACEV) Shareholders Approve Tempo Deal
ACE Convergence (NASDAQ:ACEV) announced this morning that its shareholders have approved its business combination with electronics manufacturer Tempo during a special meeting held on November 17.
The SPAC did not disclose redemption amounts, but shares of ACEV traded above its trust value of $10 throughout its redemption deadline November 15.
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The Latest Liquidations: November 22, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC Liquidations: Orion, Austerlitz I, Austerlitz II, Fortress Value II, and Fortress Value IV
Orion Acquisition Corp.
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Hainan Manaslu Acquisition Corp. (HMAC) to Combine with Able View Inc. in $400M Deal
Hainan Manaslu Acquisition Corp. (NASDAQ:HMAC) has entered into a definitive agreement to combine with brand management company Able View at an estimated enterprise value on a pro-forma basis of approximately $400 million. Shanghai-based Able View is a cross-border brand management company focusing on beauty and personal care segments. The combined company is expected to trade on the NasdaqRead More
The Latest SPAC News and Rumors: November 22, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: GloriFi to shut down, BM Technologies’ acquisition of Seattle community bank pushed to 2023, and Core Scientific loses $1.7 billion
Texas-based fintech firm GloriFi to shut down
Texas-based fintech firm GloriFi is shutting down and laid off most of its employees, the Wall Street Journal reported on Monday, citing people familiar with the matter.
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CIIG Capital Partners II (CIIG) to Combine with Zapp in $573M Deal
CIIG Capital Partners II (NASDAQ:CIIG) has entered into a definitive agreement to combine with Zapp Electric Vehicles Limited at a fully-diluted post-transaction enterprise value of $573 million. London-based Zapp aims to redefine the electric two-wheeler segment through its i300 bike. The combined company is expected to trade under the symbol “ZAPP” on the Nasdaq once the deal isRead More
The Latest Liquidations: November 21, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC Liquidations: GigInternational 1 and HumanCo
GigInternational1 Announces Expiration of Exclusivity of Term Sheet for a Business Combination with Convalt Energy, Inc.
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ACE Convergence (ACEV) Secures $100M Committed Equity Financing for Tempo Deal
ACE Convergence (NASDAQ:ACEV) announced this afternoon that it has secured a committed equity facility of up to $100 million with White Lion Capital.
Under the terms of the facility, White Lion Capital has committed to purchase up to an aggregate of $100 million in the post-closing combined company’s common shares from time to time after the completion of the business combination between electronics manufacturer Tempo Automation and ACE at the request of the post-closing combined company.
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The Latest SPAC News and Rumors: November 21, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Bitfufu among creditors of Sam Bankman-Fried’s FTX, tech startups shun Singapore and Hong Kong for U.S.
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PropTech Investment II (PTIC) Adds FPA to Appreciate Deal
PropTech Investment II (NASDAQ:PTIC) announced this morning that it has entered into a forward purchase agreement (FPA) for an OTC Equity Prepaid Forward Transaction with Vellar Opportunity Fund for its recently approved combination with rental marketplace Appreciate.
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INSU Acquisition Corp. III (IIII) to Liquidate Trust
INSU Acquisition Corp. III (NASDAQ:IIII) announced this afternoon that it will liquidate its trust due to its inability to complete a business combination.
As of the close of business on December 22, ISNU’s public shares will be deemed cancelled and will represent only the right to receive the redemption amount of approximately $10.09.
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FinTech Acquisition Corp. V & VI (FTCV, FTVI) to Liquidate Trusts
FinTech Acquisition Corp. V (NASDAQ:FTCV) and FinTech Acquisition Corp. VI (NASDAQ:FTVI) both announced this afternoon that they will be liquidating their trusts due to the inability to complete a business combination.
FTCV expects to dissolve and liquidate its trust effective as of the close of business on December 9, and will redeem all of the outstanding shares at a per-share redemption price of approximately $10.08.
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Jiya Acquisition Corp. (JYAC) to Liquidate Trust
Jiya Acquisition Corp. (NASDAQ:JYAC) announced this afternoon that it will liquidate its trust due to its inability to complete a business combination.
The SPAC expects its shares to stop trading as of the close of business on November 23.
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Population Health Investment Co. (PHIC) to Liquidate Trust
Population Health Investment Co., Inc. (NASDAQ:PHIC) announced this afternoon that it will liquidate its trust and be redeeming all shares effective as of November 30.
As such, the SPAC’s shares will stop trading as of the close of business on November 29.
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PropTech Investment Corporation II (PTIC) Shareholders Approve Appreciate Deal
PropTech Investment II (NASDAQ:PTIC) announced this afternoon that its shareholders have approved its business combination with rental marketplace Appreciate during a special meeting held earlier today.
The SPAC did not disclose redemption amounts, but shares of PTIC traded above its trust value of $10 throughout its redemption deadline November 16.
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The Latest SPAC News and Rumors: November 18, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Tims China extends retail distribution partnership with Alibaba’s Freshippo, Anghami reduces headcount by 22%, and Grindr shares soar 400% after SPAC merger
Tims China extends RTD reach with Alibaba’s Freshippo
Tims China (NASDAQ:THCH) has announced a two-year ready-to-drink (RTD) retail distribution partnership with Chinese grocery chain Freshippo.
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Genius Sports (GENI) Commences Warrant Consent Solicitation
Genius Sports (NYSE:GENI), which completed its combination with dMY Technology Group Inc. II in April 2021, announced this morning that it has started a solicitation of consents from holders of outstanding warrants to amend the exercise period so the warrants will expire on January 18, 2023, instead of on April 20, 2026.
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Kingswood Acquisition Corp. (KWAC) Adjourns Extension Vote Again
Kingswood Acquisition Corp. (NYSE:KWAC) announced yesterday afternoon that it is once again adjourning its special meeting.
The SPAC originally adjourned its special meeting on November 15, to November 18, and will now be adjourning the meeting again from November 18, to November 23.
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