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Author: Nicholas Alan Clayton

Mountain Crest Acquisition Corp. III (MCAE) to Combine with ETAO International Group in $2.5Bn Deal

Jan 28, 2022 INTEL by Nicholas Alan Clayton
Mountain Crest III (NASDAQ:MCAE) has entered into a definitive agreement to combine with healthcare group ETAO at an enterprise value of $2.5 billion. Beijing-based ETAO is a diversified healthcare group managing 12 hospitals, about 30 chain clinics and an insurance brokerage. The combined company is expected to trade on the NYSE under the symbol “ETAO”
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Breeze Holdings Acquisition Corp. (BREZ) to Combine with D-Orbit in $1.3Bn Deal

Jan 27, 2022 INTEL by Nicholas Alan Clayton
Breeze (NASDAQ:BREZ) has entered into a definitive agreement to combine with space logistics firm D-Orbit at an enterprise value of $1.28 billion, or 2.8x its 2024E revenue. The Fino Mornasco, Italy-based company provides orbital vehicles designed to position satellites to the last mile of their launch destinations in space. The combined company is expected to
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Social Capital Suvretta I (DNAA) to Combine with Akili Interactive in $1Bn Deal

Jan 26, 2022 INTEL by Nicholas Alan Clayton
Social Capital Suvretta I (NASDAQ:DNAA) has entered into a definitive combination agreement with digital medicine company Akili Interactive for a post-money equity value of $1 billion. Boston-based Akili is developing a range of video games designed to serve as digital therapeutics for patients suffering from ADHD, autism, multiple sclerosis and other cognitive ailments. The combined
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Sports Ventures (AKIC) to Combine with DNEG in $1.7Bn Deal

Jan 25, 2022 INTEL by Nicholas Alan Clayton
Sports Ventures (NASDAQ:AKIC) has entered into a definitive agreement to combine with visual effects studio DNEG at an enterprise value of $1.7 billion, or about 12.4x its 2022E adjusted EBITDA. London-based DNEG studios provide a full suite of visual effects and animation services to studios from its network of creative centers with 6,700 employees on
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Cohn Robbins Holdings Corp. (CRHC) to Combine with Allwyn Entertainment in $9.3Bn Deal

Jan 21, 2022 INTEL by Nicholas Alan Clayton
Cohn Robbins (NYSE:CRHC) has entered into a definitive agreement to combine with multinational lottery operator Allwyn at an enterprise value of $9.3 billion, or 10.8x its 2022E adjusted EBTIDA. Lucerne, Switzerland-based Allwyn operates lottery games in five European countries through both brick-and-mortar retail and online. The combined company is expected to trade on the NYSE
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Silver Spike Acquisition Corp. II (SPKB) to Combine with Eleusis in $446M Deal

Jan 20, 2022 INTEL by Nicholas Alan Clayton
Silver Spike II (NASDAQ:SPKB) has entered into a definitive agreement to combine with pharmaceutical firm Eleusis at an enterprise value of $446 million. New York City-based Eleusis is developing a novel therapy for treatment-resistant depression involving IV-administered psychadelics. The combined company is expected to trade on the Nasdaq under the symbol “ELEU” once the deal
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ACE Convergence (ACEV) Adds $200M to Tempo Automation Deal

Jan 19, 2022 INTEL by Nicholas Alan Clayton

ACE Convergence Acquisition Corp. (NASDAQ:ACEV) has secured its combination with electronics manufacturer Tempo Automation with $200 million in convertible notes financing announced this morning.

This new money will replace $54 million originally destined for the post-combination company in the form of a senior debt facility and is made up of $175 million from Oaktree Capital Management and $25 million from an ACE Convergence affiliate.

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Social Capital Suvretta III (DNAC) to Combine with ProKidney in $1.8Bn Deal

Jan 18, 2022 INTEL by Nicholas Alan Clayton
Social Capital Suvretta III (NASDAQ:DNAC) has entered into a definitive combination agreement with biopharmaceutical firm ProKidney at an enterprise value of $1.835 billion. Winston-Salem, North Carolina-based ProKidney has launched Phase III trials of its REACT cellular therapy which promises to slow the progression of chronic kidney disease (CKD) and potentially regenerate tissues and function. The
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Viveon Health Acquisition Corp. (VHAQ) to Combine with Suneva Medical in $511M Deal

Jan 12, 2022 INTEL by Nicholas Alan Clayton
Viveon (NYSE:VHAQ) has entered into a definitive agreement to combine with aesthetic medical treatment company Suneva at a proposed equity valuation of $511 million. The San Diego-based company produces a line of anti-aging products and medical devices for cosmetic procedures. The combined company is expected to trade on the NYSE under the symbol “RNEW” once
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Globis Acquisition Corp. (GLAQ) Adds Up to $29.5M to Forafric Deal

Jan 4, 2022 INTEL by Nicholas Alan Clayton
Globis (NASDAQ:GLAQ) announced this morning in an 8-K that it has agreed to funding mechanisms that would bring up to $29.5 million in new capital to its combination with African agribusiness Forafric. This new money comes in the form of a $9.5 million convertible note, which will automatically convert to shares in the post-combination at
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Capstar Special Purpose (CPSR) Adds Backstop to Gelesis Deal

Jan 3, 2022 INTEL by Nicholas Alan Clayton
Capstar (NYSE:CPSR) announced in an 8-K this morning that it is has added a $15 million backstop to its combination with biotech firm Gelesis to secure the deal’s cash terms ahead of its shareholder vote. The backstop combines with the transaction’s existing $90 million PIPE to meet the deal’s $105 million minimum cash condition on
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