Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
U.S.
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Gores Guggenheim (NASDAQ:GGPI) announced that its shareholders have voted to approve its combination with Swedish electric vehicle-maker Polestar in a special meeting held earlier today.
Holders of 61,968,987 shares of GGPI common stock were present in person or by proxy, representing 61.97% of the voting power, constituting a quorum for the transaction.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
D-Orbit, the space logistics and orbital transportation company that is going public through a transaction with Breeze Holdings Acquisition Corp.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Paya Holdings Inc.
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GO Acquisition Corp. (NYSE:GOAC) announced that it will no longer pursue an initial business combination before its transaction deadline of August 7 and will therefore liquidate its trust.
The SPAC will begin the process of redeeming its common stock and returning capital back to its investors as promptly as practicable following, but not more than 10 business days after, its deadline of August 7, 2022. All
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EJF Acquisition Corp. (NASDAQ:EJFA) announced this afternoon that its shareholders have voted to approve its combination with Israeli fintech firm Pagaya in a special meeting held earlier today.
Although today’s press release was short on details and did not disclose redemption numbers, EJFA traded slightly above its trust value of $10 throughout its redemption deadline June 15.
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Northern Lights (NASDAQ:NLIT) has entered into a redemption backstop agreement for up to $50 million with cannabis fintech provider Safe Harbor to help ensure the maximum redemption threshold condition is met.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Circle Internet Financial Ltd.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Crypto companies that have been trying to go public since last year’s boom remain stuck in a lengthy back-and-forth with US regulators, adding to the pile of challenges facing the industry.
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Sports Venture (NASDAQ:AKIC) announced this morning that it has mutually terminated its combination agreement with technology-enabled visual effects and animation company DNEG.
Similar to a handful of other terminations we’ve seen, the parties decided to terminate the deal due to the headwinds in the SPAC market and general market volatility.
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Waldencast Acquisition Corp. (NASDAQ:WALD) announced this afternoon that it has increased its PIPE by $8 million and entered into a conditional consent in regards to its combination with beauty brands OBAGI and Milk Makeup.
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East Stone Acquisition Corp. (NASDAQ:ESCC) has tacked on another $200 million to its PIPE for its combination with EV-maker ICONIQ, bringing the total PIPE to $400 million.
As background, East Stone brought an estimated $33.5 million into the deal from its current trust and supplemented this with a $200 million PIPE at $10.26 per share from an investor.
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Feutune Light Acquisition Corp. priced its $85 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “FLFVU” Thursday, June 16, 2022.
The new SPAC’s search for a target business will likely span many industries and regions around the world but will place an emphasis on businesses with reasoned and strong management teams.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
On Friday afternoon, QuantumScape announced the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job.
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LightJump (NASDAQ:LJAQ) has entered into a definitive agreement to combine with science-based ingredients company Moolec Science at a proforma equity value of $504 million.
Warwickshire, United Kingdom-based Moolec develops animal proteins in plants using molecular farming, a scalable, affordable and sustainable technology that uses plants as small factories.
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Virgin Group II (NYSE:VGII) announced that its shareholders have voted to approve its combination with sustainable home products-maker Grove in a special meeting held earlier today.
Today’s press release was short on details and did not disclose redemption numbers, but VGII traded below its trust value throughout its redemption deadline June 10, and closed today at $5.96.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
26 Capital Acquisition Corp. (NASDAQ:ADER) announced this morning that it has postponed its special meeting to approve its combination with gambling resort Okada Manila following a criminal and legal issue involving a former director of the company.
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Mountain Crest III (NASDAQ:MCAE) announced this afternoon that it has amended its merger agreement in connection to its proposed business combination with healthcare group ETAO.
As part of the amended merger agreement, Mountain Crest III has reduced ETAO’s valuation from $2.5 billion to just $1 billion due to unfavorable market conditions, ETAO’s financial statements, and its failure to close a private placement of its securities in the amount of $51 million that was scheduled to close on or before February 15, 2022.
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