There have been a number of filings this afternoon, so a summary has been provided below:
Industrea (INDU), announced this afternoon that shareholders have approved their business combination with Concrete Pumping Holdings. The
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Saban Capital filed a proxy this afternoon for a shareholder vote. Unfortunately, it’s not to vote on their business combination with Panavision and Sim. Instead, shareholders will be asked to vote on the re-appointment of two Class B Directors and to ratify KPMG as their independent public accounting firm.
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Jensyn Acquisition Corp. (JSYN), filed a preliminary proxy late Friday, for a new shareholder vote to extend their termination date by 180 days. Jensyn is currently set to expire on January 3rd, 2019, but if the extension is approved, they will have until July 2, 2019 to complete an acquisition.
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I-AM Capital Acquisition Company (IAM), released an 8-K this morning, that contained information within it regarding their shareholder votes results and some very interesting “settlements” with their underwriters.
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What a mess…
GTY Technology Holdings (GTYH) and OpenGov, a prior target company of GTYH, are suing each other over, among other things, fraud and breach of contract.
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For those keeping score, we now have five SPACs on file to IPO in December, so we thought a comparison of terms would help for those doing a little Holiday SPAC shopping.
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This morning, Chardan Healthcare Acquisition Corp. (CHACU) filed for a $70 million, Chardan-backed SPAC focusing on Healthcare companies in North America. Chardan Healthcare will be led by senior members of Chardan Capital Markets, a veteran SPAC underwriter.
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Friday evening, Andina Acquisition Corp. III, filed for a $100 million SPAC IPO focused on companies in the Americas, which means we now have four SPACs getting ready to IPO in December, bringing our 2018 potential deal count to 47.
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The SPAC decks were recently cleared with three pricings last week and have immediately been replenished with three new filings. The first was CF Finance, then on Monday we had Monocle for $150 million, and now on Tuesday evening, Schultze Special Purpose Acquisiton Corp (SAMAU), also filed for a $150 million SPAC.
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Monday evening, Monocle Acquisition Corporation (MNCL), filed for $150 million SPAC IPO. Monocle is being led by Eric Zahler, as President, CEO and Director, and is a co-founder and Managing Director of Sagamore Capital, a private equity firm pursuing investments in the aerospace and defense, industrial electronics and selected business service markets.
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As expected, Big Rock Partners Acquisition Corp. (BRPA), has extended their completion deadline by three months to February 22, 2019. Big Rock, which IPO’d back on November 20th of 2017, had only twelve months to complete their business combination and given the time crunch, will deposit $690,000 into the trust (or $0.10 per share) as required to qualify for the extension period.
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CF Finance Acquisition Corp., debuted their SPAC early Friday afternoon with a filing for $250 million and if you haven’t already guessed, the “CF” stands for Cantor Fitzgerald, which is sponsoring this SPAC.
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KBL Merger Corp. IV, just announced they “have entered into several non-binding letters of intent with various entities for an initial business combination.” As a result, the Company gets to extend their completion deadline to March 7, 2019.
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Landcadia Holdings, Inc., announced the results of their shareholder vote this morning and they seem to be taking a page out of the I-AM Capital play book by providing almost no information.
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Boxwood Merger Corp. (BWMCU), the $200 million Macquarie-backed SPAC being led by Stephen Kadenacy, announced Thursday evening they have priced their IPO and will trade Friday under the symbol Nasdaq: BWMCU.
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AMCI Acquisition Corp. (AMCI), the natural resources-focused SPAC being led by Hans Mende and William Hunter, announced Thursday evening they have priced their $200 million IPO and will trade Friday under the symbol Nasdaq: AMCIU.
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Fintech Acquisition Corp. III (FTACU), announced Thursday evening, the pricing of their upsized $300 million SPAC and will begin trading Friday under the symbol Nasdaq: FTACU.
The Fintech team, which has an impressive record with two successful SPACs under their belt, will once again be led by Betsy and Daniel Cohen, as Chairman and CEO, respectively.
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Boxwood Merger Corp. was rumored to be pricing last night and instead, they down-sized their deal and increased their warrant from one-half to a full warrant. Given that we have three deals coming at the same time, the fight for capital is competitive and investors are choosy.
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As previously announced, the winner of the SPACInsider T-shirt contest is SPAC Mafia! We have created t-shirts and hats and the design is now available in multiple colors in the SPACInsider Store.
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I-AM Capital Acquisition Company (IAM) announced the results of their shareholder vote yesterday evening. However, the term “results” should probably be used loosely since there wasn’t a whole lot of information included in it.
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