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Author: Nicholas Alan Clayton

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Schultze Special Purpose Amends Merger with Clever Leaves

Nov 9, 2020 INTEL by Nicholas Alan Clayton
Schultze Special Purpose Acquisition Corp. (NASDAQ:SAMA) and Clever Leaves International announced this morning that the two parties had agreed to amend their merger agreement to reduce the overall price tag and cash required to close the deal. Under the changes, cannabis cultivator and processor Clever Leaves would be valued at an enterprise value of $206
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Monocle Acquisition Corp. (MNCL) Secures Extension But Faces Redemptions

Nov 6, 2020 INTEL by Nicholas Alan Clayton
Monocle Acquisition Corp. (NASDAQ:MNCL) announced in an 8-K this evening that its shareholders had approved a three-month extension of its transaction deadline, but shareholders also opted to redeem shares in large numbers. A total of 16,160,761 opted to redeem, and with an estimated $10.27 pro rata in trust, this would remove roughly $165.9 million from
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Tottenham Acquisiton I Ltd. (TOTA) Secures Extension Vote

Nov 6, 2020 INTEL by Nicholas Alan Clayton
Tottenham Acquisition I Ltd. (NASDAQ:TOTA) announced in an 8-K this afternoon that its shareholders approved changes to its charter allowing it to extend its transaction deadline in exchange for additional contributions to its trust. Shareholders voted overwhelmingly at the special meeting November 6 to allow the SPAC to extend its deadline by one month up
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KBL Merger Co. IV (KBLM) Shareholders Approve CannBioRx Deal

Nov 6, 2020 INTEL by Nicholas Alan Clayton
KBL Merger Co. IV (NASDAQ:KBLM) announced in an 8-K filing this afternoon that its shareholders approved its merger with CannBioRx Life Sciences Corp at a special meeting November 5, but also redeemed shares worth most of its trust value. A total of 816,461 shares were redeemed, removing about $9 million from its trust and leaving
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Monocle Acquisition Corp. (MNCL) Postpones Extension Vote

Nov 4, 2020 INTEL by Nicholas Alan Clayton
Monocle Acquisition Corp. (NASDAQ:MNCL) announced in an 8-K this evening that it adjourned today’s special meeting to extend its transaction deadline and rescheduled it for 3 pm, Friday, November 6. Several SPACs have faced significant redemptions at approval and extension votes in the past week as the market pushed many below $10 and investors opted
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Andina Acquisition Corp. III (ANDA) and EMMAC Terminate Merger Talks

Nov 4, 2020 INTEL by Nicholas Alan Clayton
Andina Acquisition Corp. III (NASDAQ:ANDA) announced this morning that it and European cannabis company EMMAC had mutually terminated negotiations on their intended business combination. The parties initially signed a non-binding letter of intent July 22 and Andina put out an upbeat release touting progress on the deal last week (October 26th). Furthermore, just four days
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CF Finance (CFFA) Shareholders Approve Deal

Nov 3, 2020 INTEL by Nicholas Alan Clayton
CF Finance Acquisition Corp. (NASDAQ:CFFA) announced in an 8-K filing this evening that its shareholders approved its merger GCM Grosvenor but about $98 million-worth of shares were redeemed in the vote. American voters weren’t the only ones to go to the polls today as CF Finance shareholders widely approved the company’s transaction and other governance
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Conyers Park II Acquisition Corp. (ADV) Reveals $323M in Redemptions

Nov 3, 2020 INTEL by Nicholas Alan Clayton
Conyers Park II Acquisition Corp. (NASDAQ:ADV) showed in an 8-K filing today that $323.1 million-worth of its shares redeemed when the company held its vote to approve its combination with Advantage Solutions October 27. The company did not release redemption figures at the time and Conyers Park II closed the transaction October 28. Conyers Park
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Andina Acquisition Corp. III (ANDA) Secures Extension in Shareholder Vote

Oct 30, 2020 INTEL by Nicholas Alan Clayton
Andina Acquisition Corp. III (NASDAQ:ANDA) announced in a filing this afternoon that shareholders had approved an extension of its transaction deadline from October 31 to January 31, 2021. Shareholders voted overwhelmingly for the extension, which would automatically extend further to April 30 if the company has entered into a definitive merger agreement by January 31.
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Healthcare Merger Corp. (HCCO) Shareholders Approve SOC Telemed Deal

Oct 30, 2020 INTEL by Nicholas Alan Clayton
Healthcare Merger Corp. (NASDAQ:HCCO) released an 8-K this morning showing its shareholders have voted and approved its business combination with SOC Telemed. Shareholders approved the transaction at a special meeting earlier today alongside a series of other corporate governance proposals. The parties expect to complete the transaction today and the combined company’s stock and warrants
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It’s Getting Hard Out There for a SPAC

Oct 29, 2020 INTEL by Nicholas Alan Clayton
The combination of election uncertainty, market indigestion and maybe a little of bit of Halloween spookery has generated a difficult market for SPACs in the past several weeks. Fourteen SPACs listed over the past week (on or after 10/22), and only five finished trading above $10 today, with several breaking their IPO price almost immediately.
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Spartan Energy Acquisition Corp. (SPAQ) Shareholders Approve Fisker Deal

Oct 28, 2020 INTEL by Nicholas Alan Clayton
Spartan Energy Acquisition Corp. (NYSE:SPAQ) announced in a filing this afternoon that its shareholders have approved its business combination with electric vehicle (EV) maker Fisker Technologies. About 58.35% of outstanding shares participated in the vote and all proposals passed by wide margins at the special meeting earlier today, October 28. Shareholders redeemed 2,004,297 shares, however,
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Alberton Acquisition Corp. (ALAC) to Combine with SolarMax Technology

Oct 28, 2020 INTEL by Nicholas Alan Clayton
Alberton Acquisition Corp. (NASDAQ:ALAC) announced this morning that it has entered into a merger agreement with SolarMax Technology. SolarMax is a manufacturer and installer of solar panels for residential and commercial customers, with panels assembled at its 165,000-square foot facility in Riversdale, California and installed at over 12,000 residential properties thus far. Transaction Overview SolarMax
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Andina Acquisition Corp. III (ANDA) Postpones Extension Vote

Oct 28, 2020 INTEL by Nicholas Alan Clayton
Andina Acquisition Corp. III (NASDAQ:ANDA) announced this morning that it would adjourn a special meeting of shareholders this morning without voting on an extension of the company’s transaction deadline. The company’s current deadline to complete a transaction is Saturday, October 31. Andina has not yet set a new time and date for the postponed meeting,
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