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Qell Acquisition Corp. (QELL.U) files for $300M IPO

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Qell Acquisition Corp. (QELL.U) files for $300M IPO

Sep 14, 2020 INTEL by Matt Cianci
Friday after the close, a second ESG-related SPAC filed for IPO last week. Qell Acquisition Corp. (QELL.U) will be raising $300M for a “target in the next-generation mobility, transportation and sustainable industrial technology sectors”. The SPAC is led by CEO Barry Engle and CFO Sam Gabbita, who together have a strong background in transportation and
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Extension Vote Results: CF Finance Acquisition Corp. (CFFA)

Sep 11, 2020 INTEL by Kristi Marvin
CF FINANCE ACQUISITION CORP. (CFFA) CF Finance Acquisition Corp. (CFFA), filed an 8-K this afternoon detailing the results of yesterday’s shareholder vote to extend their completion deadline from September 17, 2020 to December 17, 2020.  The extension amendment was approved by a wide margin and CFFA will not be making any contribution to trust going
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Extension Vote Results: Insurance Acquisition Corp. (INSU)

Sep 11, 2020 INTEL by Kristi Marvin
INSURANCE ACQUISITION CORP. (INSU) Insurance Acquisition Corp. (INSU), filed an 8-K this afternoon detailing the results of yesterday’s shareholder vote to extend their completion deadline from September 22, 2020 to November 3, 2020. The extension deadline was approved, but more importantly, zero shares redeemed. Out of a total of 16,158,121 shares, only 106,298 voted against the
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Executive Network Partnering (ENPC) Seeks to Limit Public Warrant Ownership

Sep 10, 2020 INTEL by Kristi Marvin
Another layer of the Executive Network Partnering Corporation (ENPC.U) prospectus, which investors may not have noticed previously, is found in the back of the book where many notable new deal terms often reside (in the “Description of Securities” section). This one is regarding warrant ownership limitations. It is quite common to see a limitation on
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Haymaker Acquisition Corp. II (HYAC) to Combine with ARKO Holdings

Sep 9, 2020 INTEL by Nicholas Alan Clayton
Haymaker Acquisition Corp. II (HYAC) announced this morning it has entered into a definitive agreement to combine with ARKO Holdings Ltd. (TASE: ARKO), an Israeli company whose primary asset is convenience store chain GPM Investments. Richmond, Virginia-based GPM is the 7th largest convenience store chain in the United States with 1,393 stores across 23 US
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AerSale

Monocle Acquisition Corp. (MNCL) and AerSale Revise Deal Terms

Sep 8, 2020 INTEL by Kristi Marvin
Monocle Acquisition Corporation (MNCL), filed an 8-K Tuesday evening announcing a revised Merger Agreement with AerSale Corp. Specifically, Monocle has adjusted the Enterprise Value to $300 million, representing a new multiple of 5.5x 2021E EBITDA, down from an Enterprise Value of $430 million and 6.3x 2020E EBITDA. This deal has been substantially restructured to reflect
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B. Riley Principal Merger Corp. II to Combine with Eos Energy Storage

Sep 8, 2020 INTEL by Matt Cianci
This morning B. Riley Principal Merger Corp. II (BMRG) entered into a definitive agreement to merge with Eos Energy Storage at an initial enterprise value of $550M. This is the second deal for the B. Riley team led by Daniel Shribman & Kenneth Young and we can’t say we are too surprised in how this consummated
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Conyers Park II Acquisition Corp. (CPAA) to Combine with Advantage Solutions in $5.2Bn Deal

Sep 8, 2020 INTEL by Nicholas Alan Clayton
Advantage Solutions announced this morning that it had entered into a merger agreement to combine with Conyers Park II Acquisition Corp. (CPAA) in a deal that would give the combined entity an initial enterprise value of $5.2 billion. Irvine, California-based Advantage provides outsourced sales and marketing tools that help consumer brands drive demand across the
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UPDATE: Kensington Capital Acquisition Corp. (KCAC) to Combine with QuantumScape

Sep 3, 2020 INTEL by Nicholas Alan Clayton
Kensington Capital Acquisition Corp. (KCAC) announced this morning it has agreed to merge with automotive battery maker QuantumScape in a deal that would give the combined company an enterprise value of $3.3 billion. San Jose-based QuantumScape plans to launch a joint venture manufacturing facility with Volkswagen (DE:VOWG) to produce solid-state battery cells for its electric
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