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Author: Nicholas Alan Clayton

Novus Capital Corporation II (NXU) to Combine with Energy Vault in $1.1Bn Deal

Sep 9, 2021 INTEL by Nicholas Alan Clayton
Novus Capital II (NYSE:NXU) has entered into a definitive agreement to combine with kinetic energy storage company Energy Vault at an enterprise value of $1.13 billion, or 2.1x its 2023E revenue. Westlake Village, California-based Energy Vault is developing a utility scale energy storage solution that uses gravity to release energy by de-stacking heavy slabs. The
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Malacca Straits Acquisition Company Limited (MLAC) Terminates Asia Vision Deal

Sep 7, 2021 INTEL by Nicholas Alan Clayton
Malacca Straits (NASDAQ:MLAC) announced this morning that it and Asia Vision Network have mutually terminated their business combination citing “unforeseen circumstances beyond the control of either party”. These unforeseen circumstances are likely the general down market for SPACs, which has made for a challenging environment to close combinations. Already two other SPACs – ACE Convergence
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Petra Acquisition, Inc. (PAIC) to Combine with Revelation Biosciences in $128M Deal

Aug 30, 2021 INTEL by Nicholas Alan Clayton
Petra (NASDAQ:PAIC) has entered into a definitive agreement to combine with biotech firm Revelation Biosciences at an enterprise value of $128 million. San Diego-based Revelation is developing two drug candidates aimed at treating respiratory diseases as well as a diagnostic device for diagnosing viral infections. The combined company is expected to trade on the Nasdaq
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Magnum Opus Acquisition Limited (OPA) to Combine with Forbes Global Media in $685M Deal

Aug 26, 2021 INTEL by Nicholas Alan Clayton
Magnum Opus (NYSE:OPA) has entered into a definitive agreement to combine with media group Forbes at an enterprise value of $685 million, or 2.9x its 2022E revenue. Jersey City, New Jersey-based Forbes operates a media group including wholly-owned and licensed publications and manages branded invents internationally. The combined company is expected trade on the NYSE
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Ace Global Business Acquisition Limited (ACBA) to Combine with DDC Enterprise Limited in $300M Deal

Aug 25, 2021 INTEL by Nicholas Alan Clayton
Ace Global (NASDAQ:ACBA) has entered into a definitive share exchange agreement with DDC at an enterprise value of $300 million. Hong Kong-based DDC runs digital cooking content platform DayDayCook and recently launched its own line of prepared meals. The combined company is expected to trade on the Nasdaq once the deal is completed but the
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NextGen Acquisition Corp. II (NGCA) to Combine with Virgin Orbit in $3.2Bn Deal

Aug 23, 2021 INTEL by Nicholas Alan Clayton
NextGen II (NASDAQ:NGCA) has entered into a definitive agreement to combine with space venture Virgin Orbit at an enterprise value of $3.2 billion, or 2.1x its 2025E revenue Virgin Orbit delivers satellites to orbit from an airplane-based system with launch sites selected in the UK and Brazil with additional locations slated for Japan and the
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CA Healthcare (CAHC) Revises LumiraDx Deal

Aug 20, 2021 INTEL by Nicholas Alan Clayton
CA Healthcare Acquisition Corp. (NASDAQ:CAHC) announced this morning that it is revising its merger with medical device-maker LumiraDx downwards from an enterprise valuation of $5 billion to $3 billion. CA Healthcare said in its press release that this 40% slash in value came due to “the recent market environment for publicly traded diagnostic companies, general
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InterPrivate III Financial Partners (IPVF) to Combine with Aspiration in $1.9Bn Deal

Aug 18, 2021 INTEL by Nicholas Alan Clayton
InterPrivate III (NYSE:IPVF) has entered into a definitive agreement to combine with ESG-focused financial services firm Aspiration at an enterprise value of $1.9 billion, or 7.7x its 2022E revenue. Marina del Rey, California-based Aspiration provides a fintech platform allowing consumer and business customers to make and track sustainability impacts with their payments activity. The combined
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Aldel Financial (ADF) to Combine with Hagerty in $3Bn Deal

Aug 18, 2021 INTEL by Nicholas Alan Clayton
Aldel Financial (NYSE:ADF) has entered into a definitive agreement to combine with car insurer Hagerty at an enterprise value of $3.13 billion, or 2.8x its 2023E revenue. Traverse City, Michigan-based Hagerty provides insurance products for collectible cars and media properties focused on car enthusiasts. The combined company is expected to trade on the NYSE under
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M3-Brigade Acquisition II Corp. (MBAC) to Combine with Syniverse in $2.8Bn Deal

Aug 17, 2021 INTEL by Nicholas Alan Clayton
M3-Brigade II (NYSE:MBAC) has entered into a definitive agreement to combine with telecom tech company Syniverse at an enterprise value of $2.85 billion, or 12.1x its 2022E EBITDA. Tampa, Florida-based Syniverse provides telecom device connectivity and services to both phone carriers and enterprise clients seeking to set up internal networks. The combined company is expected
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Silver Crest Acquisition Corp. (SLCR) to Combine with Tim Hortons China in $1.79Bn Deal

Aug 16, 2021 INTEL by Nicholas Alan Clayton
Silver Crest (NASDAQ:SLCR) has entered into a definitive agreement to combine with Tim Hortons China at an enterprise value of $1.79 billion or 3.9x its 2023E revenue. Tims China is the subsidiary of Canadian convenience store brand Tim Horton’s (NYSE:THI), selling coffee and confectionary goods through about 388 stores. The combined company is expected to
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MedTech Acquisition Corporation (MTAC) to Combine with Memic innovative Surgery

Aug 13, 2021 INTEL by Nicholas Alan Clayton
MedTech (NASDAQ:MTAC) has entered into a definitive agreement to combine with medical device-maker Memic at an enterprise value of $655 million, or 7.9x its 2024E revenue. Tel Aviv-based Memic is developing robotic surgical devices to be used in gynecological operations with a rollout initially planned for the US market this year. The combined company is
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Spotlight: How SPACs Can Immunize the World

Aug 13, 2021 INTEL by Nicholas Alan Clayton

Welcome to SPACInsider’s Spotlight series! With this, we will seek to illuminate a particular trend in SPACs that deserves a greater focus. This week, we will be looking at the ways that SPACs can play a part in propelling the ongoing vaccine rollout and boost developments in immunology, with research compiled by SPACInsider contributors Anthony Sozzi and Sam Beattie.

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First Reserve Sustainable Growth Corp. (FRSG) to Combine with EO Charging in $675M Deal

Aug 12, 2021 INTEL by Nicholas Alan Clayton
First Reserve (NASDAQ:FRSG) has entered into a definitive agreement to combine with EV-charging service EO at an enterprise value of $675 million, or 3.1x its 2023E revenue. The Stowmarket, UK-based firm sells turnkey charging solutions for electrified commercial fleets and consumers. The combined company is expected to trade on the Nasdaq under the symbol “EOC”
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European Sustainable Growth (EUSG) to Combine with ADS-TEC in $580M Deal

Aug 11, 2021 INTEL by Nicholas Alan Clayton
European Sustainable Growth (NASDAQ:EUSG) has entered into a definitive agreement to combine with EV battery-maker ADS-TEC at an equity value of $580 million. Stuttgart, Germany-based ADS-TEC provides charging stations for electric vehicles and energy storage solutions for both commercial and residential customers. The combined entity is expected to trade on the Nasdaq once the deal
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