Revolution Acceleration Acquisition Corp. (RAAC) Shareholders Approve Berkshire Grey Deal

Jul 20, 2021 INTEL by Marlena Haddad

Revolution Acceleration Acquisition Corp. (NASDAQ:RAAC) announced in an 8-K filing that its shareholders approved its combination with AI robotics firm Berkshire Grey in a meeting held earlier this morning. The 8-K filing made no mention of redemptions, but RAAC traded below $10 throughout its redemption deadline July 16, and opened today at $8.70. Holders of
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Property Solutions Acquisition Corp. (PSAC) Shareholders Approve Faraday Future Deal

Jul 20, 2021 INTEL by Marlena Haddad

Property Solutions Acquisition Corp. (NASDAQ:PSAC) announced in a press release and an 8-K filing that its shareholders approved its combination with electric vehicle (EV) maker Faraday Future in a meeting held earlier this morning. PSAC’s release notes that 99.91% of funds will remain in PSAC’s trust account following the redemption deadline, which should mean roughly
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Ascendant Digital Acquisition Corp. (ACND) Shareholders Approve MarketWise Deal

Jul 20, 2021 INTEL by Marlena Haddad

Ascendant Digital Acquisition Corp. (NYSE:ACND) announced in a press release that its shareholders approved its combination with leading multi-brand digital subscription services platform MarketWise LLC in a meeting held earlier this morning. The press release did not mention redemption numbers, but ACND traded below $10 throughout its redemption deadline July 16, and opened today at $8.79.
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The Latest SPAC News and Rumors: July 20, 2021

Jul 20, 2021 INTEL by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: New rules for China’s tech companies threatens SPAC deals, and Li-Cycle partners with Univar Solutions OnSite Services

New Listing Rules For China’s Tech Companies Could ‘Dampen’ Appetite For SPAC Deals

A new slate of draft rules announced last week by the Cyberspace Administration of China (CAC) threatens to slow the rate of US listings by Chinese tech companies – and attractiveness of those companies to American investors.

Tailwind Acquisition Corp. (TWND) Adjourns Shareholder Vote Until July 30

Jul 20, 2021 INTEL by Nicholas Alan Clayton

Tailwind Acquisition Corp. (NYSE:TWND) announced that it has adjourned its special meeting held this morning without a final vote to approve its combination with QOMPLX, and will now reconvene on July 30. The press release did not make mention of any movement in the SPAC’s redemption deadline, but in the past SPACs have used adjournments
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Velocity Acquisition Corp. (VELO) to Combine with BBQGuys in a $839M Deal

Jul 20, 2021 INTEL by Nicholas Alan Clayton

Velocity (NASDAQ:VELO) has entered into a definitive agreement to combine with outdoor living ecommerce platform BBQGuys at an enterprise value of $839 million, or 17x its 2022E EBITDA. BBQGuys is a e-retailer of higher-end grills, accessories and backyard products for homeowners and professional builders. The combined company is expected to trade on the Nasdaq under
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Andina Acquisition Corp. III (ANDA) Shareholders Approve Stryve Deal

Jul 20, 2021 INTEL by Marlena Haddad

Andina Acquisition Corp. III (NASDAQ:ANDA) announced in an 8-K that its shareholders approved its combination with emerging healthy snacking platform Stryve in a meeting held yesterday.

The deal and all other measures up for vote passed nearly unanimously, but 756,896 shares were redeemed in connection with vote, removing an estimated $7.7 million from the Andina III’s trust.

Chavant Acquisition Corp. (CLAYU) Prices Downsized $80M IPO

Jul 20, 2021 IPOs by Marlena Haddad

Chavant Acquisition Corp. announced the pricing of its downsized $80 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CLAYU” Tuesday, July 20.

Clover Leaf Capital Corp. (CLOEU) Prices $125M IPO

Jul 19, 2021 IPOs by Marlena Haddad

Clover Leaf Capital Corp. announced the pricing of its $125 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CLOEU” Tuesday, July 20.

TortoiseEcofin Acquisition Corp. III (TRTL.U) Prices $300M IPO

Jul 19, 2021 IPOs by Marlena Haddad

TortoiseEcofin Acquisition Corp. III announced the pricing of its $300 million IPO and its shares are expected to begin trading on the New York Stock Exchange under the symbol “TRTL.U”

FG New America Acquisition Corp. (FGNA) Shareholders Approve OppFi Deal

Jul 19, 2021 INTEL by Marlena Haddad

FG New America Acquisition Corp. (NYSE:FGNA) announced in a press release today that its shareholders approved its combination with fintech lender Opportunity Financial (OppFi) in a meeting held on July 16. FGNA received elections to redeem approximately 14.8 million of its outstanding public shares, which will leave approximately $91.6 million in its trust account. The
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ECP Environmental Growth Opportunities Corp. (ENNV) to Combine with Fast Radius in $995M Deal

Jul 19, 2021 INTEL by Nicholas Alan Clayton

ECP (NASDAQ:ENNV) has entered into a definitive agreement to combine with digital supply chain firm Fast Radius at an enterprise value of $995 million, or 1.6x its 2025E revenue. Chicago-based Fast Radius provides on-demand manufacturing through micro-factories connected to a cloud-based software system. The combined company is expected to trade on the Nasdaq upon the
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Omnichannel Acquisition Corp. (OCA) to Combine with Kin Insurance in $1.03B Deal

Jul 19, 2021 INTEL by Marlena Haddad

Omnichannel Acquisition Corp. (NYSE:OCA) has entered into a definitive agreement to combine with insurance technology company Kin Insurance, Inc. at an enterprise value of $1.03 billion, or 15x its 2022E gross profit. Chicago-based Kin is a pure-play direct-to-consumer digital insurer for homeowners and allows customers to insure their home within just minutes. The combined company
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The Latest SPAC News and Rumors: July 19, 2021

Jul 19, 2021 INTEL by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: PropertyGuru nears merger with Bridgetown 2, and Rover booms following lifted COVID rules

PropertyGuru Is Said to Near $1.8 Billion Merger With Thiel SPAC

Singapore’s online real estate firm PropertyGuru Pte is nearing a deal to go public through a merger with Bridgetown 2 Holdings Ltd.

Investindustrial Acquisition Corp. (IIAC) to Combine with Ermenegildo Zegna Group in $3.2Bn Deal

Jul 19, 2021 INTEL by Nicholas Alan Clayton

Investindustrial (NYSE:IIAC) has entered into a definitive agreement to combine with Italian fashion group Zegna at an enterprise value of $3.2 billion, or 2.2x its 2021E revenue. The Milan-based company is comprised of its namesake luxury brand as well as Thom Browne, operating out of about 276 branded stores with about 6,050 employees. The combined
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Capstar Special Purpose Acquisition Corp. (CPSR) to Combine with Gelesis in $964M Deal

Jul 19, 2021 INTEL by Nicholas Alan Clayton

Capstar (NYSE:CPSR) has entered into a definitive agreement to combine with biotherapeutics firm Gelesis at an enterprise value of $964 million, or 5.6x its 2022E net sales. Boston-based Gelesis is advancing a series of therapies for weight management and chronic gut conditions with a consumer-facing approach. The combined company is expected to trade on the
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Pershing Square Tontine Holdings (PSTH) Nixes Universal Music Group Share Purchase

Jul 19, 2021 INTEL by Nicholas Alan Clayton

Pershing Square Tontine Holdings (NYSE:PSTH) announced in an early morning letter to shareholders that it was withdrawing its intended purchase of a 10% stake in Universal Music Group, which is slated to IPO later this year. The share purchase will instead be made by the SPAC’s sponsor, Pershing Square Holdings (LON:PSH), and the SPAC will
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SPAC IPO Terms Tracker: A Light Week for IPOs

Jul 18, 2021 INTEL by sam.beattie

Terms Tracker for the Week Ending July 16, 2021 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Heading into the back half of Summer, there were nine new S-1 registration statements, which is five less than last week’s 14, and eight IPO’s,
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Stable Road Acquisition Corp. (SRAC) Re-Strikes PIPE

Jul 16, 2021 INTEL by Kristi Marvin

Stable Road Acquisition Corp. (NASDAQ:SRAC), on the heels of a both a re-struck deal and a fine by the SEC, filed an 8-K this afternoon announcing it had also re-struck it’s PIPE with PIPE investors. The headline is that the previous PIPE amount of $175 million has been reduced to $110 million, but there are
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The Latest SPAC News and Rumors: July 16, 2021

Jul 16, 2021 INTEL by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: Vinod Khosla says SPACs are a great alternative for tech, and Apollo’s Rowan believes the SPAC ecosystem is here to stay, while Fed’s Powell says it makes the market feel ‘frothy’

SPACs Are Great Alternative for Tech: Vinod Khosla

Khosla Ventures co-founder Vinod Khosla discusses the continuing popularity of tech companies deciding to go public via SPACs including Berkshire Grey, warehouse automation company and Khosla Ventures investment recipient.