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Author: Nicholas Alan Clayton

Star Peak Corp II (STPC) to Combine with Benson Hill in $1.35Bn Deal

Star Peak II (NYSE:STPC) has entered into a definitive agreement to combine with food technology company Benson Hill at an enterprise value of $1.35 billion, or 10.6x its 2021E revenue. St. Louis, Missouri-based Benson Hill develops enhanced crops to produce plant-based protein food ingredients and sells fresh produce to grocery networks like Kroger (NYSE:KR) and
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LifeSci Acquisition II Corp. (LSAQ) to Combine with Science 37 in $1Bn Deal

LifeSci II (NASDAQ:LSAQ) has entered into a definitive agreement to combine with software firm Science 37 at an enterprise value of $1.05 billion, or 5.8x its 2023E revenue. Los Angeles-based Science 37 provides a software platform that helps organize and accelerate clinical trials by biotech researchers and pharmaceutical companies. The combined entity is expected to
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Live Oak Acquisition Corp. II (LOKB) to Combine with Navitas Semiconductor in $1Bn Deal

Live Oak II (NYSE: LOKB) has entered into a definitive agreement to combine with advanced charging electronics-maker Navitas at an enterprise value of $1.036 billion, or 5.7x its 2023E revenue. California-based Navitas produces gallium nitride semiconductors that enable faster and more compact power supply and charging to an array of consumer and industrial electronics sectors.
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Experience Investment Corp. (EXPC) Shareholders Approve Blade Deal

Experience Investment Corp. (NASDAQ:EXPC) announced that its shareholders have approved its combination with Blade while redeeming a small amount of shares for cash. The parties’ press release did not give an exact figure for the number of shares redeemed, but noted that the deal will now bring $365 million in gross proceeds to Blade including
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SPAC IPOs Are Back, But Are They?

The pace of SPAC IPOs has loosened up from the screeching halt it experienced in early April with five listings since last Thursday and two to three potentially on the docket through the end of the week. That compares with just 10 IPOs from in the first four weeks of April (April 1 through April
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Vesper Healthcare Acquisition Corp. (VSPR) Completes HydraFacial Deal

Vesper Healthcare Acquisition Corporation (NASDAQ:VSPR) announced this morning it has completed its business combination with HydraFacial following a special meeting last week that saw low levels of share redemptions. About 78.9% of Vesper’s shares took part in the meeting, and the transaction was overwhelmingly approved. Shareholders redeemed 2,672,690 shares for cash, removing an estimated $26.7
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IPO-Pricing

Montes Archimedes Acquisition Corp (MAAC) to Combine with Roivant Sciences in $5Bn Deal

Montes Archimedes (NASDAQ:MAAC) has entered into a definitive agreement to combine with biotech firm Roivant Sciences at an enterprise value of $5 billion. Basel, Switzerland-based Roivant develops an array of drug candidates acquired from peers or internally developed with its enhanced computing platform. The combined company is expected to trade on the Nasdaq under the
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IPO-Pricing

Galileo Acquisition Corp. (GLEO) to Combine with Shapeways in $410M Deal

Galileo (NYSE:GLEO) has entered into a definitive agreement to combine with digital manufacturing firm Shapeways at an enterprise value of $410 million, or 4.8x its 2022E revenue. Shapeways provides a software platform for designers to have digitally-designed parts or products optimized and manufactured out of its Long Island City, NY facilities. The combined company is
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Star Peak Energy Transition Corp. (STPK) Shareholders Approve Stem Deal

Star Peak Energy Transition (NYSE:STPK) announced in an 8-K filing that its shareholders approved its business combination with energy storage company Stem with minimal shares redeemed earlier today.

About 59.6% of Star Peak shares participated in the vote at a special meeting and overwhelmingly approved the business combination and other governance proposals on the ballot.

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Blue Water Acquisition Corporation (BLUW) to Combine with Clarus in $216M Deal

Blue Water (NASDAQ:BLUW) has entered into a definitive agreement to combine with pharmaceutical firm Clarus Therapeutics at an enterprise value of $215.9 million. Clarus provides testosterone replacement therapy (TRT) drugs in an oral pill form under the JATENZO brand and is developing other androgen and metabolic therapies. The combined company is expected to trade on
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Alberton Acquisition Corporation (ALAC) Extends Transaction Deadline

Alberton Acquisition Corporation (NYSE:NGA) announced that its shareholders approved an extension of its transaction deadline to October 26, but approximately 9.6% of shareholders opted to redeem shares in connection with the vote. Shareholders voting at Alberton’s special meeting April 23 redeemed a total of 135,069 shares removing an estimated $1.48 million from its trust. Redemptions
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Sports Entertainment Acquisition Corp. (SEAH) to Combine with Super Group in $4.6Bn Deal

Sports Entertainment (NYSE:SEAH) has entered into a definitive agreement to combine with Super Group at an enterprise value of $4.64 billion, or 13.3x its 2021E EBITDA. UK-based Super Group provides online sports betting through its Betway brand and an online casinos under the Spin brand with 2.5 million monthly active customers. The combined company is
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RUMORS
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Northern Genesis Acquisition Corp. (NGA) Shareholders Approve Lion Electric Deal

Northern Genesis (NYSE:NGA) announced that its shareholders approved its business combination with EV-maker Lion Electric at its special meeting held earlier today.

The business combination will now be completed shortly, however the parties have opted to wait until Northern Genesis has had the opportunity to file an amended 10-K, re-stating its warrants as derivative liabilities in response to recent SEC comments.

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