Pershing Square Tontine (PSTH) Makes Universal Music and SPARC Moves Official

Jun 21, 2021 INTEL by Nicholas Alan Clayton

Pershing Square Tontine Holdings (NYSE:PSTH) announced Sunday that it has entered into a definitive agreement with Vivendi (PA:VIV) to acquire 10% of Universal Music Group (UMG). The announcement also makes official the SPAC’s two other transactions – initially announced June 4 – that it would leave a publicly-listed RemainCo to seek out a separate deal
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Leo Holdings III Corp. (LIII) to Combine with Local Bounti in $757M Deal

Jun 18, 2021 INTEL by Nicholas Alan Clayton

Leo III (NYSE:LIII) has entered into a definitive agreement to combine with indoor agriculture company Local Bounti at an enterprise value of $757 million, or 1.6x its 2025E revenue. Hamilton, Montana-based Local Bounti sells leafy greens out of indoor farms designed with technology to achieve record harvest turnarounds and 90% less land and water. The
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Top 3 SPAC Targets – Post-Pandemic Travel

Jun 18, 2021 INTEL by Nicholas Alan Clayton

SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among companies in the sphere of travel. We look at why they are compelling and why each could be a fit for a blank-check merger.

GS Acquisitions Holdings Corp II (GSAH) to Combine with Mirion Technologies in $2.6Bn Deal

Jun 17, 2021 INTEL by Nicholas Alan Clayton

GS II (NYSE:GSAH) has entered into a definitive agreement to combine with nuclear services and radiology firm Mirion at an enterprise value of $2.56 billion, or 13.3x its 2022E EBITDA. San Ramon, California-based Mirion provides radiation detection equipment and services to sectors ranging from nuclear power generation to defense and nuclear medicine. The combined company
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Roth CH Acquisition III (ROCR) to Combine with QualTek in $829M Deal

Jun 16, 2021 INTEL by Nicholas Alan Clayton

Roth CH III (NASDAQ:ROCR) has entered into a definitive agreement to combine with telecom services QualTek at an enterprise value of $829 million, or 7.8x its 2021E EBITDA. Blue Bell, Pennsylvania-based QualTek builds and services telecom and renewable power infrastructure out of 80 operation centers across the US and Canada with over 5,000 employees. The
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DraftKings (DKNG) Targeted in New Hindenburg Short-Seller Report

Jun 15, 2021 INTEL by Nicholas Alan Clayton

Financial investigations shop Hindenburg Research is nothing if not industrious. Right on the heels of news that both the CEO and CFO of electric vehicle (EV)-maker Lordstown (NASDAQ:RIDE) would be stepping down following an internal investigation prompted by a Hindenburg report, its team struck again, this time with DraftKings in its sights. It claims that
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Decarbonization Plus Acquisition Corporation III (DCRC) to Combine with Solid Power in $1.2Bn Deal

Jun 15, 2021 INTEL by Nicholas Alan Clayton

Decarbonization Plus III (NASDAQ:DCRC) has entered into a definitive agreement to combine with automotive battery-maker Solid Power at an enterprise value of $1.246 billion, or 37.7x its 2025E. Louisville, Colorado-based Solid Power is developing solid state batteries for the automotive industry with its first installations expected with strategic investors Ford (NYSE:F) and BMW (DE:BMW) in
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Lordstown Hammered, Kranz Hired: Up and Down Movement in De-SPAC’d EVs

Jun 14, 2021 INTEL by Nicholas Alan Clayton

Lordstown (NASDAQ:RIDE) is down about 20% in morning trading after the surprise announcement that both its CEO and CFO were stepping down in an unexpected move that followed other bad omens for the company. After an internal investigation prompted by a Hindenburg short-seller report, the company has acknowledged that it overstated the strength of the
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Seven Oaks Acquisiton Corp. (SVOK) to Combine with Boxed in $640M Deal

Jun 14, 2021 INTEL by Nicholas Alan Clayton

Seven Oaks (NASDAQ:SVOK) has entered into a definite agreement to combine with ecommerce seller Boxed, at an enterprise value of $640 million, or 2.1x its 2022E revenue. New York-based Boxed sells bulk, high-repeat consumables to both consumers and B2B customers, and it has launched a new initiative to white-label its fulfillment software to other consumer
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Yucaipa Acquisition Corporation (YAC) to Combine with SIGNA Sports in $3.2Bn Deal

Jun 11, 2021 INTEL by Nicholas Alan Clayton

Yucaipa (NYSE:YAC) has entered into a definitive agreement to combine with SIGNA Sports United at an enterprise value of $3.23 billion, or 1.9x its 2021E net revenue. Berlin-based SIGNA sells sporting goods through multiple ecommerce brands and will also acquire online bike retailer WiggleCRC through this deal. The combined company is expected to trade on
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Top 3 SPAC Targets – Live Events

Jun 11, 2021 INTEL by Nicholas Alan Clayton

SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among companies in the live events space. We look at why they are compelling and why each could be a fit for a blank-check merger.

Broadstone Acquisition Corp. (BSN) to Combine with Vertical Aerospace in $1.8Bn Deal

Jun 10, 2021 INTEL by Nicholas Alan Clayton

Broadstone (NYSE:BSN) has entered into a definitive agreement to combine with electric vertical take-off and landing (eVTOL) aircraft-maker Vertical Aerospace at an enterprise value of $1.84 billion. Bristol, UK-based Vertical Aerospace is developing a model of eVTOL planes designed to make carbon-free air travel and urban air mobility possible. The combined company is expected to
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Venus Acquisition Corporation (VENA) to Combine with VIYI Algorithm in $400M Deal

Jun 10, 2021 INTEL by Nicholas Alan Clayton

Venus (NASDAQ:VENA) has entered into a definitive agreement to combine with VIYI Algorithm at a valuation of $400 million. VIYI is a subsidiary of China-based WiMi Hologram Cloud (NASDAQ:WIMI) and is focused on developing bespoke central processing algorithms to optimize client software and hardware systems. The combined company is to be renamed MicroAlgo and will
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Spartacus Acquisition Corporation (TMTS) to Combine with NextNav in $897M Deal

Jun 10, 2021 INTEL by Nicholas Alan Clayton

Spartacus (NASDAQ:TMTS) has entered into a definitive agreement to combine with GPS mapping company NextNav at an enterprise value of $897 million, or 11.6x its 2023E revenue. California-based NextNav provides next-generation location data for a variety of industries including public safety, mobile apps and real estate. The combined company is expected to trade under the
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Khosla Ventures Acquisition Co. (KVSA) to Combine with Valo Health in $2.3Bn Deal

Jun 9, 2021 INTEL by Nicholas Alan Clayton

Khosla (NASDAQ:KVSA) has entered into a definitive agreement to combine with drug discovery platform Valo Health at a firm value of $2.32 billion. Boston-based Valo Health is a technology company built to accelerate the drug discovery and development process using human-centric data and artificial intelligence (AI) tools. The transaction is expected to close in the
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Kensington Capital Acquisition Corp. II (KCAC) to Combine with Wallbox in $1.5Bn Deal

Jun 9, 2021 INTEL by Nicholas Alan Clayton

Kensington II (NYSE:KCAC) has entered into a definitive agreement to combine with electric vehicle (EV) charging station provider Wallbox at an enterprise value of $1.477 billion, or 18.7x its 2021E revenue. Barcelona-based Wallbox provides a suite of EV-charging hardware and energy management systems for residential, semi-public and public use in 67 countries. The combined entity
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GigCapital2, Inc. (GIX) Sweetens & Shrinks Backstop Following Vote

Jun 8, 2021 INTEL by Nicholas Alan Clayton

GigCapital2, Inc. (NYSE:GIX) announced in an 8-K filing this morning that it has modified its post-announcement PIPE and convertible note offerings to sweeten the pot following its Friday’s shareholders vote to approve its combination with UpHealth and Cloudbreak. As background as to why, GigCapital2 must maintain at least $150 million in cash available in order
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VPC Impact Acquisition Holdings III (VPCC) to Combine with Dave in $3.5Bn Deal

Jun 7, 2021 INTEL by Nicholas Alan Clayton

VPC Impact III (NYSE:VPCC) has entered into a definitive agreement to combine with fintech platform Dave at an enterprise value of $3.56 billion, or 9.4x its 2022E revenue. Dave provides digital banking services with a particular focus on avoiding punitive fees and helping users improve their financial health. The combined company is expected to trade
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GigCapital4 (GIG) to Combine with BigBear.ai in $1.57Bn Deal

Jun 4, 2021 INTEL by Nicholas Alan Clayton

GigCapital4 (NASDAQ:GIG) has entered into a definitive agreement to combine with AI technology firm BigBear at an enterprise value of $1.57 billion, or 8.6x its 2021E revenue. Columbia, Maryland-based BigBear is an AI-powered data analytics and risk management firm primarily serving the US defense and intelligence services. The combined company is expected to trade on
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Top 3 SPAC Targets – Semiconductors

Jun 4, 2021 INTEL by Nicholas Alan Clayton

SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among semiconductor manufacturers. We look at why they are compelling and why each could be a fit for a blank-check merger.

Author: Nicholas Alan Clayton