Thunder Bridge Acquisition Ltd. (TBRG), announced this morning that they have signed a definitive merger agreement with REPAY Holdings, for an implied enterprise value at closing of $653 million.
...READ MORE
This morning, DiamondPeak Holdings Corp. (DPHCU) filed for a $250 million SPAC IPO focused on the real estate sector. DiamondPeak will be led by David Hamamoto, the former founder of the Northstar Companies, which was sold to Colony Capital (NYSE: CLNY) in January of 2017.
...READ MORE
For lack of a better way to describe the SPACs we currently have on file to IPO, we’re going to call this group the “Government Shutdown SPACs.” This is due to the fact that six of the seven have had to remove their delaying amendments just so they can price in this crazy situation where the SEC has been furloughed indefinitely.
...READ MORE
Pensare Acquisition Corp. (WRLS), announced this evening that the company has agreed to contribute to its trust, $0.033 per month for each share that is not redeemed in connection with their stockholder vote to extend their completion deadline.
...READ MORE
This afternoon, RMG Acquisition Corp. (RMG.U), filed a new registration statement with both the removal of the delaying amendment and two Anchor Investors in the form of BlackRock, Inc. and Alta Investment Advisers LLC.
...READ MORE
(1/15/19)
This morning, Churchill Capital held a conference call and webcast to discuss their recently announced merger with Clarivate Analytics.
...READ MORE
GTY Technology released an 8-K this morning outlining recent changes to their merger agreement with one of their six targets (eCivis) as well an amendment to the underwriting agreement with Citigroup.
...READ MORE
Union Acquisition Corporation (LTN), announced this morning their intent to make purchases of up to $3 million of Union’s shares, rights and/or warrants in the open market. The actual number of shares, rights and/or warrants which will be purchased, and the timing of such purchases, will be determined by the members of UAC’s sponsor, or entities affiliated with members of the sponsor, and the price which the Company will pay for the securities will be the market price at the time of the purchases.
...READ MORE
UPDATE: Late this afternoon Churchill Capital Corp. sent out a new press release with a rescheduled time for their conference call and webcast tomorrow morning to discuss their recently announced transaction with Clarivate Analytics.
...READ MORE
There appears to be some confusion on delaying amendments and when and how registration statements get effective.
...READ MORE
Churchill Capital Corp. (CCC), which debuted their IPO just four months ago on September 7th, has announced a definitive merger agreement with Clarivate Analytics in a transaction valued at approximately $4.2 billion. Churchill
...READ MORE
Gores Metropoulos Acquisition Corp. filed another amendment to their prospectus, however, there are no material changes to the terms.
...READ MORE
Haymaker Acquisition Corp. (HYAC), announced this morning that they have amended their business combination agreement with Steiner Leisure regarding the proposed acquisition of OneWorldSpa, a global provider of health and wellness products and services onboard cruise ships and in destination resorts.
...READ MORE
This morning, we had 2019’s SPAC #7 file for a $300 million IPO in the form of Acamar Partners Acquisition Corp. (ACAMU). Acamar is being led by Juan Carlos Torres Carretero, as Chairman, and Luis Ignacio Solorzano Aizpuru, as CEO.
...READ MORE
Jensyn Acquisition Corp. (JSYN), announced late this afternoon that its shareholders have approved the extension to their completion deadline to July 2, 2019.
At the vote, 186,085 shares exercised their right to redeem at a redemption price of approximately $11.01 per share, for an aggregate redemption amount of approximately $2,049,380.
...READ MORE
Late this afternoon, Federal Street Acquisition Corp. (FSAC), announced the approval of their business combination with Agiliti Health and the results of their shareholder vote.
The 8-k provided information as to vote counts for each of the proposals, but did not provide the amount of redemptions or at what price.
...READ MORE
Stellar Acquisition III, now Phunware (PHUN), released the results of their shareholder vote last night and for the most part, the results were unsurprising. 1,813,487 shares of Stellar common stock exercised their right to redeem their shares for cash at a price of $10.64 per share.
...READ MORE
Methodology:
In addition to the traditional methodology used whereby any bookrunner or lead manager gets full credit for IPO size to calculate deal volume, starting last quarter we added two new columns to the rankings - volume by number of units sold and volume sold % market shares (highlighted in green). For example, if SPAC-XYZ raised $500 million at IPO, and underwriter A sold $400 million of the same deal and underwriter B sold only $100 million, that’s how they will be credited. This methodology gives a more accurate window into the actual deal volume.
Read More
To no one's surprise, Ellenoff Grossman and Schole ("EGS"), once again, led the SPAC IPO Legal League Tables for both the fourth quarter and Full-Year (FY) 2018. EGS absolutely dominated the league this year with a whopping 22 assignments, 16 of which were as Issuer's Counsel. Overall, EGS's 22 SPAC assignments accounted for a total 2018 deal volume of a massive $4.4 billion, representing approximately 40% of all SPAC IPO proceeds.
Read More
Last night, while everyone was still recovering from the Christmas holiday, another new SPAC was filed making the forthcoming 2019 IPO count SIX. This latest SPAC is Pivotal Acquisition Corp.
...READ MORE