Global SPAC Partners (NASDAQ:GLSPT) has confirmed the $41.9 million PIPE for its combination with edge computing firm Gorilla, and waived the minimum cash condition of $50 million.
The funding comes from experienced AI institutional investors that have agreed to purchase 4.15 million PIPE subunits, at a price of $10.10 per subunit.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Alliance Entertainment Holding Corporation (“Alliance Entertainment”), a distributor and wholesaler of the world’s largest in stock selection of music, movies, video games, electronics, arcades, and collectibles, today announced the July 1, 2022, closing on the acquisition of Think 3Fold, a distributor of toys and collectibles.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
SatixFy Communications Ltd.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Virgin Orbit (NASDAQ:VORB) has ticked off another milestone for its fledgling launch business, successfully carrying out its first night-time mission over the weekend and deploying satellites into low-Earth orbit.
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FinTech V (NASDAQ:FTCV) announced this morning that it has mutually terminated its combination agreement with social investing network eToro.
While most SPACs that have recently terminated their deals have pointed towards current market conditions as the main culprit, Fintech V disclosed that it was unable to meet certain closing conditions and specifically, “the Company’s registration statement, within the timeframe outlined by the Merger Agreement and as extended by the Merger Agreement Amendment”.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Online brokerage eToro and Betsy Cohen-backed blank-check firm FinTech Acquisition Corp V (NASDAQ:FTCV) are planning to let the Thursday deadline for their merger pass without closing the deal, The Information reported, citing a person familiar with the matter.
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Energy Vault (NYSE: NRGV) announced this morning that it will be redeeming its outstanding warrants for shares.
Warrantholders have until 5 pm EST on Monday, August 1 to exercise their warrants and any warrants that remain unexercised immediately after the deadline will be void and no longer exercisable.
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G3 VRM Acquisition Corp. (NASDAQ:GGGVU) announced this morning that it will dissolve and liquidate its trust.
Following the close of business on July 6, public shares will be cancelled and will represent only the right to receive the redemption amount of $10.15, at which time the G3 VRM anticipates that its securities will cease trading on The Nasdaq.
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North Atlantic (NASDAQ:NAAC) announced this afternoon that it has mutually terminated its combination agreement with communications platform Telesign, effective immediately.
Similar to a handful of other SPACs we’ve seen, North Atlantic cited current market conditions as the root of the termination.
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BurTech Acquisition Corp. (NASDAQ:BRKHU) and Chavant Capital (NASDAQ:CLAYU) both announced this afternoon that they have signed non-binding letters of intent ahead of the long weekend.
BurTech’s 8-K referenced a Bloomberg news article that was published earlier this week which disclosed its non-binding LOI with Indian digital entertainment and technology company JetSynthesys.
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Isleworth (NASDAQ:ISLE) announced this afternoon that it has mutually terminated its combination agreement with biopharmaceutical company Cytovia.
Although the press release was short on details, it is likely the parties decided to terminate for the same reason a number of other SPACs recently have, which pertains to the headwinds in the SPAC market as well as general market volatility.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Enjoy Technology Inc.
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Far Peak (NYSE:FPAC) announced this afternoon that it has extended its Outside Date to complete its business combination with cryptocurrency exchange Bullish to December 31, 2022. However, it was also noted in the press release that the PIPE investors, which were contributing $300 million, will terminate on the current Outside Date of July 8, 2022.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
The 3 recently listed SPACs have generated “strong interest” and raised a total of IPO proceeds of about S$528 million, leading Singapore’s IPO market to its busiest half year in five years, according to a PwC Singapore report released on Tuesday (Jun 28).
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Agrico Acquisition Corp. (NASDAQ:RICO) announced that its shareholders have voted to approve its combination with indoor farming company Kalera (OL:KAL) in a special meeting held yesterday.
The approval comes as no surprise as the SPAC announced a preliminary shareholder approval on Friday afternoon.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
JetSynthesys, an Indian digital entertainment and technology company, is in talks to go public through a merger with blank-check firm BurTech Acquisition Corp.
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Northern Lights (NASDAQ:NLIT) announced in an 8-K this morning that it had received redemption requests for all but about 83,795 of its shares ahead of its completion, but its backstops have purchased 4,435,608 shares from would-be redeemers that will now stay with the company.
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