The Latest SPAC News and Rumors: December 29, 2022

Dec 29, 2022 Headline Post, INTEL, SPACs in the News by Marlena Haddad

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

Latest SPAC News: Vertical Farming is latest 2022 tech layoffs victim, SeaStar Medical and Nuwellis enter into license and distribution agreement, and Complete Solaria and Freedom I achieve important milestones

Futuristic Vertical Farming Startups Are Struggling in the Tech Downturn

When the market was booming, tech investors poured billions into companies designing new ways of farming.

Mount Rainier Acquisition Corp. (RNER) Postpones HUB Security Completion Vote

Dec 29, 2022 De-SPAC Votes and Redemptions, Headline Post, INTEL by Nicholas Alan Clayton

Mount Rainier Acquisition Corp (NASDAQ:RNER) announced in an 8-K this morning that it is pushing its vote to complete its combination with HUB Cyber Security that was originally scheduled for December 30.

Northern Star II (NSTB) and Pivotal Investment III (PICC) Adjourn Extension Votes Again

Dec 28, 2022 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

Northern Star Investment Corp. II (NYSE:NSTB) and Pivotal Investment Corp. III (NYSE:PICC) both announced this afternoon that their extension votes have once again been adjourned.

NSTB and PICC originally scheduled their meetings for December 22 when the pair decided to postpone the votes to today, December 28, to further engage with their stockholders and solicit redemption reversals.

PHP Ventures (PPHP) Postpones Extension Vote

Dec 28, 2022 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

PHP Ventures Acquisition Corp (NASDAQ:PPHP) announced this morning that it is postponing its special meeting, originally scheduled for today, to December 30.

The SPAC intends to gain shareholder approval to extend its business combination timeline from February 16, 2023 to August 16, 2023.

LightJump Acquisition Corp. (LJAQ) Shareholders Approve Moolec Deal

Dec 28, 2022 Headline Post, INTEL by Nicholas Alan Clayton

LightJump Acquisition Corp. (NASDAQ:LJAQ) announced this morning that its shareholders approved its combination with molecular food producer Moolec at a special meeting yesterday.

Although about 92% of shares voted in favor of the transaction, 2,716,176 also opted to redeem and leaves it temporarily with a public float of 51,034 shares.

The Latest Liquidations: December 23, 2022

Dec 27, 2022 Headline Post, INTEL by Nicholas Alan Clayton

Latest SPAC Liquidations: SPK, Macondray I, Powered Brands

SPK Acquisition Corp. (SPK) Terminates Varian Bio Deal and Will Liquidate December 29

SPK Acquisition Corp. (NASDAQ:SPK) announced in an 8-K this morning that it has terminated its combination agreement with Varian Bio and will instead liquidate on December 29.

Treasury Issues Guidance on Buybacks. What Does It Mean For SPACs?

Dec 27, 2022 Headline Post, INTEL by Kristi Marvin

This morning the treasury department finally issued guidance around the issue of share buybacks, which has been haunting the capital markets since August when the 1% excise tax was first introduced.

KludeIn I (INKA) Lowers Near’s Valuation in Deal Tweak

Dec 27, 2022 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

KludeIn I Acquisition Corp. (NASDAQ:INKA) announced in an 8-K this afternoon that it has lowered the valuation for its combination target Near while pushing out the deal’s outside date from January 11 to April 11.

The Latest SPAC News and Rumors: December 27, 2022

Dec 27, 2022 Headline Post, INTEL, SPACs in the News by Nicholas Alan Clayton

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

Latest SPAC News: Wentworth appoints Larry Roth as Executive Chairman, James Murdoch and Uday Shankar veer away from SPACs

Wentworth Management names industry veteran Larry Roth as post-close Executive Chairman

Upon completion of the business combination, wealth management industry leader Larry Roth will become executive chairman of the newly created firm, named Binah.

Tailwind Acquisition Corp. (TWND) Shareholders Approve NUBURU Deal

Dec 27, 2022 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Tailwind (NYSE:TWND) announced this morning that its shareholders approved its combination with laser technology firm NUBURU at a special meeting earlier today.

The press release did not include redemption figures or a closing date, and Tailwind has a few days to wrap things up before its initial January 9 transaction deadline.

SPK Acquisition Corp. (SPK) Terminates Varian Bio Deal, Will Liquidate

Dec 27, 2022 Headline Post, INTEL by Marlena Haddad

SPK Acquisition Corp. (NASDAQ:SPK) announced in an 8-K this morning that it has terminated its combination agreement with Varian Bio and will instead liquidate on December 29.

The SPAC did not make a required $50,000 contribution to trust on December 10 to extend its transaction deadline and on December 21 gave notice that it would terminate the merger, citing breaches by Varian of one or more of the deal’s terms.

SPAC IPO Terms Tracker: Ahead of a Chilly Christmas

Dec 24, 2022 Headline Post, INTEL by sam.beattie

Terms Tracker for the Week Ending December 23rd, 2022 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. The week ahead of the Christmas Holiday returned a similar outcome for new S-1s as last week, that being zero, however, there were two IPOs
Read More

To access this post, you must purchase 1 - User: Monthly Plan.

The Latest Liquidations: December 23, 2022

Dec 23, 2022 INTEL by Marlena Haddad

Latest SPAC Liquidations: Spindletop Health, Astrea, Omega Alpha SPAC, and SportsTek

Spindletop Health Acquisition Corp. (SHCA) to Liquidate on December 20

Spindletop Health Acquisition Corp. (NASDAQ:SHCA) announced that in accordance with the announced December 20, 2022 termination date set by its Board of Directors, the company expects to redeem all outstanding public shares by December 27, 2022, following which it will be dissolved, liquidated and wound up.

The Latest SPAC News and Rumors: December 23, 2022

Dec 23, 2022 Headline Post, INTEL, SPACs in the News by Marlena Haddad

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

Latest SPAC News: Lottery.com sued by investor, True Velocity partners with Bass Pro Shops, Cabela’s, and HomeToGo founder teases Modes launch in 2023

Lottery.com

Ace Global Business (ACBA) to Combine with LE Worldwide in $150M Deal

Dec 23, 2022 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Ace Global Business (NASDAQ:ACBA) has entered into a definitive agreement to combine with smart LED lighting firm LE Worldwide at a pre-money enterprise value of $150 million. The combined company is expected to trade on the Nasdaq. Transaction Overview Ace Global brings an estimated $48.9 million into the deal from its current trust and aims
Read More

To access this post, you must purchase a Monthly or Yearly SPACInsider Subscription, or log in if you're a member.

Northern Star II (NSTB), Pivotal III (PICC) Ink Non-Redemption Pacts

Dec 23, 2022 Headline Post, INTEL by Nicholas Alan Clayton

Northern Star Investment Corp. II (NYSE:NSTB) and Pivotal Investment Corp. III (NYSE:PICC) each announced this morning that they have signed non-redemption agreements a day after adjourning their extension votes.

The moves are functionally identical with each securing the agreement of third parties not to redeem a total of 200,000 shares in each SPAC that were previously purchased at the vehicles’ IPOs.

Biotech Acquisition Company (BIOT) Sells Sponsor Economics

Dec 23, 2022 Headline Post, INTEL by Nicholas Alan Clayton

Biotech Acquisition Company (NASDAQ:BIOT) announced in an 8-K that it has agreed to sell most of its sponsor economics and undergo a management change.

An investor registered as IREEM LLC is purchasing 5,455,000 of Biotech’s promote shares (94.8%) and all 6,000,000 of its private placement warrants for $470,000 in total.

The Latest Liquidations: December 22, 2022

Dec 22, 2022 INTEL by Marlena Haddad

Latest SPAC Liquidations: AF Acquisition Corp., and Property Solutions II

AF Acquisition Corp. (AFAQ) to Liquidate on December 22

AF Acquisition Corp’s (NASDAQ:AFAQ) board of directors has determined to liquidate and dissolve the company as soon as practicable before December 31, 2022.

Northern Star II (NSTB) and Pivotal Investment III (PICC) Adjourn Extension Votes

Dec 22, 2022 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

Northern Star Investment Corp. II (NYSE:NSTB) and Pivotal Investment Corp. III (NYSE:PICC) both announced this afternoon that their extension votes, originally scheduled for today, have been adjourned to December 28.

Both SPACs expect to use this additional time to engage with their stockholders and solicit redemption reversals.

Far Peak Acquisition Corp. (FPAC) Terminates Bullish Deal

Dec 22, 2022 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

Far Peak Acquisition Corporation (NYSE: FPAC) announced in a statement this afternoon that it has mutually terminated its combination agreement with cryptocurrency exchange Bullish.

The SPAC combination had an Outside Date of December 31, 2022, and it appears the transaction timeline did not unfold as originally anticipated and had yet to clear the SEC.