Innovative International (NASDAQ:IOAC) disclosed this morning that it has already secured a $10 million convertible promissory note just a week after announcing its combination with car sharing program Zoomcar.
The new capital comes from Ananda Small Business Trust, a Nevada Trust and an affiliate of Innovative’s Sponsor, and will be in exchange for a convertible promissory note issued by Zoomcar.
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LMF (NASDAQ:LMAO) announced in a press release this afternoon that its shareholders have approved its combination with clinical biotech firm SeaStar Medical at a special meeting held earlier today.
Holders of approximately 79% of LMAO’s issued and outstanding shares cast votes at today’s meeting.
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ION Acquisition Corp. 3 Ltd (NYSE: IACC) filed a proxy this afternoon to seek shareholder approval to liquidate early.
The SPAC’s board has determined that it is very unlikely that ION will be able to complete a business combination before its completion deadline of May 4, 2023.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Controversial rapper Kanye West, the prospective new owner of right-wing social media platform Parler, vowed Monday to break bread with Donald Trump by inviting the fellow billionaire onto his site, while shares of the company aiming to take Trump’s competing Truth Social app public cratered.
PWP Forward Acquisition Corp. I (NASDAQ: FRW) filed a proxy this afternoon to seek shareholder approval to liquidate early.
PWP Forward’s current completion deadline isn’t until March 12, 2023, but today’s filing is asking shareholders to approve an amendment that would allow the company to redeem all of its outstanding public shares and liquidate before December 31, 2022.
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Sanaby Health Acquisition Corp. I (NASDAQ: SANB) announced this afternoon that due to its inability to complete a business combination, it intends to dissolve and liquidate its trust, effective as of the close of business on October 19.
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Archaea Energy, which combined with Rice Acquisition Corp. in September 2021, announced that it has agreed to be acquired by BP (NYSE:BP) for $26 per share.
The price is a 38% premium to Archaea’s 30-day VWAP and represents a major victory for a de-SPAC at time when the market has been rather short on good SPAC news.
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LMF (NASDAQ:LMAO) announced this afternoon that it has entered into a prepaid forward agreement with Vellar Opportunity Fund a day before its vote to seek shareholder approval for its combination with clinical biotech firm SeaStar Medical.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Trump Media & Technology Group (TMTG), which owns the Truth Social platform, lost no time in firing Will Wilkerson after he shared with the Washington Post a whistleblower complaint he filed with the SEC in August.
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Primavera Capital (NYSE:PV) announced that it has added $50 million in committed funding to its combination with the Lanvin Group amid other changes to the transaction.
Meritz Securities (KS:008560) agreed to provide the financing in a private placement and may invest an additional $15 million via a PIPE.
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Blockchain Moon (NASDAQ:BMAQ) has entered into a definitive agreement to combine with Web 3.0 infrastructure builder DLTx ASA (OSX:DLTX) at an enterprise value of $163.3 million, or 85x its 2021 revenue.
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Benessere (NYSE:BENE) announced in an 8-K this morning that its merger target eCombustible has terminated the pair’s combination agreement.
This comes as Benessere has just a few weeks until its November 7, 2022 transaction deadline and it has seen 39.8% of shares redeemed through two previous extensions.
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H.I.G. Acquisition Corp. (NYSE: HIGA) announced this afternoon that its board of directors has decided to redeem all of its outstanding shares.
The SPAC, which had a transaction deadline of October 23, was unable to complete a business combination and will now liquidate its trust, effective as of October 24.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Through the deal, PlayStudios (NASDAQ:MYPS) will add a number of popular casual games such as solitaire, sudoku and mahjong to its portfolio.
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Hudson Acquisition I Corp. priced its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “HUDAU” Friday, October 14, 2022.
The new SPAC intends to identify a well-established target focused on fintech, consumer, medical, or advanced mobility technology.
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