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Author: Kristi Marvin

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Morning SPAC News Roundup: August 23, 2024

Aug 23, 2024 SPACs in the News by Kristi Marvin

At the SPAC of Dawn SPACs have seen a bump of terminations in August, with the eighth termination being announced last night from Israel Acquisition Corp., and technically, a ninth this morning from TortoiseEcofin III. However, in TortoiseEcofin’s case, it appears they still intend to pursue the combination, but since they are also liquidating and
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Inflection Point II (IPXX) to Combine with USA Rare Earth in $870M Deal

Aug 22, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Kristi Marvin
Inflection Point Acquisition Corp. II (NASDAQ:IPXX) has entered into a definitive agreement to combine with USA Rare Earth, LLC (USARE), a company building out a vertically integrated, domestic rare earth element (“REE”) magnet production supply chain. The transaction values USARE at a pro-forma enterprise value of $870 million and aims to position the company as
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New SPAC: Shepherd Ave Capital Acquisition Corp Files for $75M IPO

Jul 25, 2024 Headline Post, INTEL, New S-1 Filings by Kristi Marvin
Shepherd Ave Capital Acquisition Corp. (Nasdaq: SPHAU) is the latest SPAC to file to IPO, making 24 new registration statements that have filed since June 1, 2024. So far, only two of those 24 have gone public, but it does indicate an active August.  In SPACLand at least, August is never slow. As for Shepherd
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Anchor vs. Non-Anchor Deals…How Did the 2021 Cohort Do?

Jul 18, 2024 Headline Post, INTEL by Kristi Marvin
In the past few months we’ve seen a number of SPACs IPO using what we like to call “anchor investors”, a term we use as a bit of shorthand.  What that means is, the bankers round out the IPO with qualified institutional buyers, sometimes called “non-managing sponsor investors”, that indicate for up to 9.9% of
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Continental to Backstop the 724K Shares Incorrectly Issued by Canna-Global Acquisition Corp (CNGL)

Jul 1, 2024 Headline Post, INTEL by Kristi Marvin

Continental Stock Transfer & Trust put out a press release that should provide some comfort to investors in the current Canna-Global/Liqueous saga. That’s because Continental took the unusual position of backstopping Canna-Global’s trust for the 724,000 shares that were incorrectly issued to Liqueous, and which Liqueous has yet to return.

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New SPACs: Two More Cantor SPACs File for $200M IPOs

Jun 18, 2024 Headline Post, INTEL, New S-1 Filings by Kristi Marvin
When SPACs get frothy, it gets difficult to keep up. However, since Cantor filed two nearly identical SPAC structures on Monday, we’re going to combine them in the interest of time. Both HCM II Acquisition Corp. (NASDAQ: HONDU) and SIM Acquisition Corp I (NASDAQ: SIMAU) filed for $200 million SPAC IPO offerings on Monday, both
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New SPAC: Tavia Acquisition Corp. Files for $175M IPO

Jun 18, 2024 Headline Post, INTEL, New S-1 Filings by Kristi Marvin
The mini-SPAC boom grinds on with three more S-1 registration statements filed last night, but only Tavia included something novel in its filing. Tavia Acquisition Corp. filed as a $175 million offering with EarlyBird as its underwriter, after previously filing a Draft Registration Statement in mid-May. That means this deal is slightly closer to pricing
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Hennessy Capital VI (HCVI) to Combine with Namib Minerals, an African Gold Producer

Jun 18, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Kristi Marvin
Hennessy Capital Investment Corp. VI (NASDAQ:HCVI) has entered into a definitive business combination agreement agreement to acquire Namib Minerals, an African gold producer, developer, and explorer, for an implied pro forma enterprise value of $609 million. Namib’s current producing asset, the How mine, is an established, high-grade, underground gold mine located near Bulawayo, Zimbabwe. Transaction
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