The Latest SPAC News and Rumors: October 10, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
CF Acquisition Corp. VIII (CFFE) to Combine with Exela Technologies Europe in $220M Deal
CF Acquisition Corp. VIII (NASDAQ:CFFE) has entered into a definitive agreement to combine with the European branch of B2B software firm Exela (NASDAQ:XELA) at an enterprise value of $220M, or 1.06x its 2021 revenue. Irving Texas-based Exela provides bill-payment and business process automation software to large and small enterprises. The combined company is to beRead More
Turmeric Acquisition Corp. (TMPM) to Liquidate Trust
Turmeric Acquisition Corp. (NASDAQ:TMPM) announced this morning that it has opted to liquidate its trust, dispersing approximately $10.05 per share to holders.
The SPAC’s shares will cease trading as of the open on October 20.
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SPAC IPO Terms Tracker: The Fourth Quarter Begins
Terms Tracker for the Week Ending October 7th, 2022
Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings.
The first week of October ended on a comparatively similar note as the few weeks prior, with one new S-1 registration statement and one IPO.
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Sarissa Capital Acquisition Corp. (SRSAU) to Liquidate Trust
Sarissa Capital Acquisition Corp. (NASDAQ:SRSAU) announced this afternoon that it will not consummate a business combination and will instead liquidate its trust, effective as of October 31, 2022.
Following the closing of business, shareholders are to receive the pro rata trust amount of $10.05 per share within the next 10 days.
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Orion Acquisition Corp. (OHPAU) Files to Liquidate Early by Vote
Orion Acquisition Corp. (Nasdaq: OHPAU) filed a proxy this afternoon for a shareholder vote to liquidate early.
Orion’s current completion deadline isn’t until March 4, 2023, but today’s filing is asking shareholders to approve an amendment that would allow the Board to change the date to no later than December 30, 2022.
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Lux Health Tech Acquisition Corp. (LUXA) to Liquidate Trust
Lux Health Tech Acquisition Corp. (NASDAQ:LUXA) announced this afternoon that it will not consummate a business combination and will instead dissolve and liquidate its trust, effective as of the close of business on October 29.
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The Latest SPAC News and Rumors: October 7, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Polestar warns of slow recovery from lockdown, CVS in exclusive talks to buy Cano Health, and Slack’s backers warn SCOTUS of hit to capital markets from direct listing case
Polestar Warns Slow Recovery From Lockdown Dragged on Results
Polestar Automotive Holding (NASDAQ:PSNY) said supply issues that lingered after China’s Covid lockdowns earlier this year will weigh on results the electric-car maker is releasing next month, though it’s sticking with its full-year deliveries target.
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ClimateRock (CLRC) to Combine with EEW Eco Energy in $650M Deal
ClimateRock (NASDAQ:CLRC) has entered into a definitive agreement to combine with solar plant developer EEW at a proposed equity value of $650 million.
London-based EEW designs and sells solar utility-scale solar power plants in Europe, Africa, Australia, and the US.
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Top 3 SPAC Targets – Consumer/Retail
SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among consumer and retail companies. We look at why they are compelling and why each could be a fit for a blank-check merger.
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Chardan NextTech 2 (CNTQ) Shareholders Approve Dragonfly Energy Deal
Chardan NextTech Acquisition 2 Corp. (NASDAQ:CNTQ) announced in a press release this afternoon that its shareholders approved its combination with energy storage firm Dragonfly Energy at a special meeting held earlier today.
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The Latest SPAC News and Rumors: October 6, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Former Rusal chief launches London’s first mining SPAC, LanzaTech partners with Northwestern, Yale and NREL to establish new biology center, and Jupiter Wellness initiates clinical trial for new treatment for tinnitus
Former Rusal chief launches London’s first mining SPAC
One of the most prominent Anglo-Russian executives in the metals industry is seeking to raise $125mn for a new mining venture through a London-listed special purpose acquisition company.
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Digital Transformation Opportunities (DTOC) to Combine with American Oncology Network
Digital Transformation (NASDAQ:DTOC) has entered into a definitive agreement to combine with physician group the American Oncology Network (AON) at an enterprise value of $497 million, or 13.8x its Q2 2022 EBITDA run rate. The Fort Myers, Florida-based company has gathered together a network of independent oncology practices in 18 states. The combined company isRead More
Podcast: Gastón Paladini, Co-founder & CEO of Moolec Science
We all know you can make alternative meats out of plants, but what about growing meat from plants? This week, we speak with Gastón Paladini, Co-founder and CEO of Moolec Science, which announced a $504 million dollar combination with LightJump Acquisition Corp.
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Altitude Acquisition Corp. (ALTU) Increases Non-Redemption Agreement to Cover $15M
Altitude Acquisition Corp. (NASDAQ:ALTU) announced in an 8-K this morning that it has expanded its non-redemption agreement to cover about $15 million worth of shares.
A new shareholder has agreed to not to redeem 223,124 shares in connection with the today’s vote to extend the SPAC’s transaction deadline from October 11, to April 11, 2023.
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Avanti Acquisition Corp. (AVAN) to Liquidate Trust
Avanti Acquisition Corp. (NYSE:AVAN) announced this morning that it will not consummate a business combination and will instead liquidate its trust.
October 6 is to be the last day Avanti trades on the public markets and shareholders are to receive the pro rata trust amount of $10.06 per share over the next 10 days.
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Athena Consumer (ACAQ) Adds FPA to e.GO Deal
Athena Consumer (NYSE:ACAQ) announced this afternoon that it has entered into a forward purchase agreement (FPA) to help secure its combination with EV-maker e.GO.
The FPA announcement comes days after Athena added $15 million in bridge financing to its deal with e.GO. Brucke
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Chardan NextTech 2 (CNTQ) Pre-Announces Redemptions
Chardan NextTech Acquisition 2 Corp. (NASDAQ:CNTQ) announced this afternoon that it has received requests to redeem 79.4% of its shares ahead of its shareholder vote tomorrow for its combination with energy storage firm Dragonfly Energy.
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Goldenstone (GDST) Terminates Roxe Holding Deal
Goldenstone Acquisition Limited (NASDAQ:GDST) announced this afternoon that it has entered into a joint agreement to terminate its combination with blockchain-based payments company, Roxe.
Goldenstone’s 8-K kept the details to a minimum, but it did disclose that the termination was mutual.
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New SPAC: Plutonian Acquisition Corp. Files for $50M IPO
Following a quiet few weeks with no new S-1 registration statements, Plutonian Acquisition Corp. filed its S-1 this morning for a $50 million IPO as the first SPAC to file for an IPO in October thus far. Although Plutonian isn’t limited to a particular industry for consummating a business combination, the SPAC intends to focus itsRead More