Author: Nicholas Alan Clayton

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Graf Acquisition Corp. IV (GFOR) to Combine with NKGen Biotech in $160M Deal

Graf Acquisition Corp. IV (NYSE:GFOR) has entered into a definitive agreement to combine with clinical-stage biotech company NKGen at an enterprise value of $160 million. Santa Ana, California-based NKGen has five pharmaceutical formulas that have each reached some stage of Phase I and Phase II clinical trials seeking potential therapies for cancer and neurodegenerative conditions
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Viveon Health Acquisition Corp. (VHAQ) to Combine with Clearday in $370M Deal

Viveon Health (NYSE:VHAQ) has entered into a definitive agreement to combine with healthcare company Clearday at an enterprise value of $370 million, or 2.5x its 2027E revenue. San Antonio, Texas-based Clearday provides a suite of digital and robotics solutions aimed at providing more efficient care for seniors in assisted living facilities. The combined company is
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Insight Acquisition Corp. (INAQ) to Combine with Avila Energy in $192M Deal

Insight Acquisition Corp. (NYSE:INOQ) has entered into a definitive agreement to combine with oil and gas producer Avila (CSE:VIK) for an equity value of $192.6 million at $10.30 per share. Calgary-based Avila operates oil and gas fields in Western Alberta and is working to transition to selling clients renewable energy products. The combined company is
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Deep Medicine Acquisition Corp. (DMAQ) to Combine with TruGolf in $125M Deal

Deep Medicine (NASDAQ:DMAQ) has entered into a definitive agreement to combine with golf simulator company TruGolf at an enterprise value of $125 million. The Centerville, Utah-based company manufactures advanced golf simulators and launch monitors for both home entertainment and commercial uses. The combined company is expected to trade on the Nasdaq under the symbol “TRUG”
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SPAC Lock-Up Expirations to Watch in April 2023

Heading into April, SPACs are to see eight sponsors and 11 de-SPAC’d companies freed from lock-ups and ready to trade. Most of these lock-up expirations are loaded into the final week of the month, but those hitting this milestone already next week include some of the more interesting transactions of the crop. In particular, MoonLake
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Nova Vision Acquisition Corp. (NOVV) to Combine with Real Messenger in $150M Deal

Nova Vision Acquisition Corp. (NASDAQ:NOVV) has entered into a definitive agreement to combine with social platform Real Messenger at an enterprise value of $150 million, or 9.4x its 2024E revenue. Costa Mesa, California-based Real Messenger has developed a real estate marketplace platform designed to enhance engagements between buyers and realtors and allow for a more
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DiamondHead Holdings Corp. (DHHC) Shareholders Approve Great Southern Homes Deal

DiamondHead Holdings Corp. (NASDAQ:DHHC) announced in an 8-K this morning that its shareholders approved its combination with Great Southern Homes at a special meeting March 23.

Only 109,426 shares were redeemed in the connection with the vote, but DiamondHead has seen about 87% redemptions in total across all previous votes, leaving it with about $43.9 million in its trust.

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two (TWOA) Sells Sponsor Economics to Hennessy Team

two (NYSE:TWOA) announced in an 8-K this morning that it has transferred the majority of its sponsor interest to a new team led by SPAC veteran Thomas Hennessy.

The new sponsor entity HC Proptech Partners III is to purchase 4,854,375 promote shares (90.9%) for undisclosed cash consideration and all current SPAC officers are expected to resign.

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Stratim Cloud Acquisition (SCAQ) to Combine with Force Pressure Control in $287M Deal

Stratim Cloud (NASDAQ:SCAQ) has entered into a definitive agreement to combine with oil and gas services provider Force Pressure at an enterprise value of $287.5 million, or 3.8x its 2022E adjusted EBITDA. The Seguin, Texas-based company provides drilling equipment and services primarily to the Eagle Ford, Permian and Haynesville basins in Texas and surrounding states.
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Digital World (DWAC) Replaces Patrick Orlando as CEO

Digital World (NASDAQ:DWAC) announced this morning that it has replaced CEO Patrick Orlando with Eric Swider, who is stepping up from a director position.

The move is the just the latest installment in a long, winding road that Digital World has taken since announcing a business combination with Trump Media and Technology Group (TMTG) all the way back in October 2021.

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Northern Revival Acquisition Corporation (NRAC) to Combine with Braiin in $190M Deal

Northern Revival (NASDAQ:NRAC) has entered into a definitive agreement to combine with agtech firm Braiin at an enterprise value of $190 million. Subiaco, Australia-based Braiin provides a range of software and hardware services to farmers designed to improve crop yields in Australia and the Asia Pacific region. The combined company is expected to trade on
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