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Author: Nicholas Alan Clayton

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Roman DBDR Tech Acquisition Corp. (DBDR) Shareholders Approve CompoSecure Deal

Dec 23, 2021 INTEL by Nicholas Alan Clayton
Roman DBDR Tech Acquisition Corp. (NASDAQ:DBDR) announced that its shareholders have approved its combination with payments and crytpo cold storage firm CompoSecure. A total of 23,647,288 shares, representing approximately 81.7% of the outstanding shares entitled to vote, were present at the special meeting. The 8-K did not disclose redemption figures but, on the day of
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Ackrell SPAC Partners I (ACKIT) to Combine with Blackstone Products in $900M Deal

Dec 23, 2021 INTEL by Nicholas Alan Clayton
Ackrell I (NASDAQ:ACKIT) has entered into a definitive agreement to combine with outdoor cooking company Blackstone Products at an enterprise value of $900 million, or 2x its 2021E revenue. Logan, Utah-based Blackstone provides outdoor griddles, accessories and consumables. The combined company is expected to trade on the Nasdaq under the symbol “BLKS” once the deal
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Yellowstone Acquisition Company (YSAC) Adds to PIPE for Sky Harbour Deal

Dec 23, 2021 INTEL by Nicholas Alan Clayton
Yellowstone (NASDAQ:YSAC) has converted a $45 million backstop in its combination with Sky Harbour into a PIPE commitment in exchange for its target waiving its minimum cash condition. The funding, which is set to come from Yellowstone affiliate Boston Omaha Corporation (NASDAQ:BOMN), was originally slated to replace financing from redeeming shareholders as a part of
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Petra Acquisition, Inc. (PAIC) Adds $12M to Revelation Biosciences Deal

Dec 22, 2021 INTEL by Nicholas Alan Clayton
Petra (NASDAQ:PAIC) announced that it had added forward purchase agreements and a convertible note that will add up to $12 million to its combination with biotech firm Revelation. Of this amount, $4.5 million is to be used to backstop potential redemptions with financing from AXA Prime Impact Master Fund, LifeSci Venture Partners as well as
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Global SPAC Partners Co. (GLSPT) to Combine with Gorilla Technology in $708M Deal

Dec 22, 2021 INTEL by Nicholas Alan Clayton
Global SPAC (NASDAQ:GLSPT) has entered into a definitive agreement to combine with edge computing firm Gorilla at an enterprise value of $708 million. Taipei, Taiwan-based Gorilla provides AI-enabled hardware and software for traffic management and security monitoring. The combined company is expected to trade on the Nasdaq under the symbol “GRRR” once the deal is
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Zanite Acquisition Corp. (ZNTE) to Combine with Eve in $2.4Bn Deal

Dec 21, 2021 INTEL by Nicholas Alan Clayton
Zanite (NASDAQ:ZNTE) has entered into a definitive agreement to combine with urban air mobility firm Eve at an enterprise value of $2.37 billion, or 8.5x 2028E EBITDA. Florida-based Eve is the electric vertical takeoff and landing (eVTOL) subsidiary of Brazilian aviation manufacturer Embraer (NYSE:ERJ) aiming to commercialize its designs as air taxis and other mobility
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Globis Acquisition Corp. (GLAQ) to Combine with Forafric in $300M Deal

Dec 20, 2021 INTEL by Nicholas Alan Clayton
Globis (NASDAQ:GLAQ) has entered into a definitive agreement to combine with African agribusiness Forafric at an equity value of $300 million. Casablanca-based Forafric produces flour and semolina as well as secondary processing products such as pasta and couscous out of plants in North and Sub-Saharan Africa. The combined company is expected to change its jurisdiction
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L&F Acquisition Corp. (LNFA) to Combine with ZeroFox in $1.3Bn Deal

Dec 20, 2021 INTEL by Nicholas Alan Clayton
L&F (NYSE:LNFA) has entered into a definitive agreement to combine with cybersecurity firm ZeroFox at an enterprise value of $1.3 billion, or 6.7x 2023E revenue. Baltimore, Maryland-based ZeroFox provides external threat intelligence and protection to businesses, brands and people and the company will acquire peer IDX as a part of this transaction, which specializes in
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CleanTech Acquisition Corp. (CLAQ) to Combine with Nauticus Robotics in $377M Deal

Dec 17, 2021 INTEL by Nicholas Alan Clayton
CleanTech (NASDAQ:CLAQ) has entered into a definitive agreement to combine with subsea robot company Nauticus at an enterprise value of $377 million, or 4x its 2023E revenue. The Houston, Texas-based company provides undersea robotics platforms for maintenance, security and other tasks. The combined company is expected to trade on the Nasdaq under the symbol “KITT”
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Founder SPAC (FOUN) to Combine with Rubicon Technologies in $2Bn Deal

Dec 16, 2021 INTEL by Nicholas Alan Clayton
Founder SPAC (NASDAQ:FOUN) has entered into a definitive agreement to combine with digital waste pickup marketplace Rubicon at an enterprise value of $1.7 billion, or 9.4x its 2023E net revenue. Lexington, Kentucky-based Rubicon connects businesses and local governments to independent waste haulers through a cloud-based platform that gives them hard data on their recycling impacts.
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InterPrivate III Financial Partners (IPVF) Details Revised Terms for Aspiration Deal

Dec 16, 2021 INTEL by Nicholas Alan Clayton
InterPrivate III (NYSE:IPVF) filed an 8-K this morning detailing changes to its combination with fintech firm Aspiration in addition to the new funding announced yesterday. For one, $250 million of the $315 million in additional funding – its Series X Preferred Stock – came at $9 per share and InterPrivate III does have a crescent
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InterPrivate III Financial Partners (IPVF) Secures $315M in New Capital for Aspiration

Dec 15, 2021 INTEL by Nicholas Alan Clayton
InterPrivate III (NYSE:IPVF) announced that it has arranged $315 million in new financing for its combination with sustainability-focused fintech firm Aspiration. The new money includes $250 million in proceeds from the issuance of non-convertible perpetual preferred stock, paying an 8% dividend and redeemable by investors after 9 years. The package also includes a $50 million
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Trump Media and Rumble Team Up, Moving CF VI (CFVI) & Digital World (DWAC) Prices

Dec 15, 2021 IPOs by Nicholas Alan Clayton

Digital World (NASDAQ:DWAC) target Trump Media & Technology Group has announced a cloud services partnership with digital media platform Rumble, which itself has a pending deal with CF VI (NASDAQ:CFVI).

As has been the trend with both deals, little concrete information was released on this new arrangement, but it nonetheless has translated into high-volume buying for both stocks.

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Matterport (MTTR) Announces Redemption of Public Warrants

Dec 15, 2021 INTEL by Nicholas Alan Clayton

Matterport (NASDAQ:MTTR) announced this morning that it will redeem all outstanding warrants and warrantholders have until 5 pm ET, January 14, 2022 to exercise them.

The company, which completed its combination with Gores VI in July, has been a relative bright spot among de-SPACs in the current market, hitting a high of $33.48 on November 29 and generally trading above $20 since Halloween.

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Spring Valley (SV) to Combine with NuScale Power in $1.9Bn Deal

Dec 14, 2021 INTEL by Nicholas Alan Clayton
Spring Valley (NASDAQ:SV) has entered into a definitive agreement to combine with nuclear power provider NuScale Power at an enterprise value of $1.86 billion, or 1.8x its 2025E revenue. Portland, Oregon-based NuScale has designed and is working to deploy a uniquely flexible nuclear power plant design with its first project scheduled for installation in Utah.
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CITIC Capital (CCAC) Adds New Financing to Quanergy Deal

Dec 14, 2021 INTEL by Nicholas Alan Clayton
CITIC Capital (NYSE:CCAC) announced this morning that it has agreed to additional financing that could bring as much as $125 million in new money to its combination partner Quanergy following the deal’s close. The SPAC signed a share subscription facility with Global Emerging Markets Group (GEM), which works similarly to a delayed-action PIPE. GEM will
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