The Latest SPAC News and Rumors: October 5, 2022

Oct 5, 2022 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: Trump-tied SPAC, Rumble show power of hardcore followers, but DWAC slides after Elon Musk revives Twitter deal; Everton FC draws takeover interest from Soros nephew’s SPAC

Trump-Tied SPAC, Rumble Show Power of Hardcore Followers

Legions of followers betting on conservative social-media platforms have helped stocks like Rumble Inc.

Aesther Healthcare (AEHA) Boosts Backstop to $80M

Oct 5, 2022 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

Aesther Healthcare (NASDAQ:AEHA) announced this morning that it has added $40 million to its backstop for the SPAC’s pending combination with Ocean Biomedical, bringing it to $80 million in total.

Meteora Capital Partners funds made the commitment to purchase 4,000,000 Aesther shares on the open market at prices no higher than the redemption price and Meteora has agreed not to redeem these shares or vote them in favor of the combination.

Tekkorp Digital (TEKKU) to Liquidate Trust

Oct 4, 2022 INTEL by Marlena Haddad

Tekkorp Digital Acquisition Corp. (NASDAQ:TEKKU) announced in a press release this afternoon that it will no longer pursue an extension for a business combination and will instead liquidate its trust.

Since TEKK’s $250 million IPO in October 2020, the SPAC’s management team has attempted to search for potential targets, but was unable to secure an opportunity that met its criteria.

The Latest SPAC News and Rumors: October 4, 2022

Oct 4, 2022 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: Redwire back on acquisition trail with deal for QinetiQ Space and Footprint showcases development of plant-based recyclable packaging for Gillette

Redwire back on acquisition trail with deal for QinetiQ Space

British defense firm QinetiQ is selling its Belgian commercial satellite systems division to Redwire, a U.S.-based

Pathfinder Acquisition Corporation (PFDR) to Combine with Movella in $537M Deal

Oct 4, 2022 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

Pathfinder (NASDAQ:PFDR) has entered into a definitive agreement to combine with motion-capture technology firm Movella at an enterprise value of $537 million, or 13.4x its 2022E revenue. San Jose, California-based Movella provides motion-capture hardware and software for the entertainment, health and manufacturing industries. The combined company is expected to trade on the Nasdaq once the
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Altitude Acquisition Corp. (ALTU) Teases $480 Million Deal

Oct 4, 2022 Deal Announcements & Amendments, INTEL by Marlena Haddad

Altitude Acquisition Corp. (NASDAQ:ALTU) announced this morning that it has entered into negotiations to combine with a global medical device manufacturer that would value the deal at $480 million.

The potential target remains unnamed, but Altitude did disclose that the company is a leader in the medical device field and has a product that is commercially available and approved for use in over 30 countries.

Atlantic Avenue (ASAQ) to Liquidate, Cancels Extension Meeting

Oct 4, 2022 INTEL by Nicholas Alan Clayton

Atlantic Avenue (NYSE:ASAQ) has announced that it will cancel its special meeting scheduled for 10 am this morning to extend its transaction deadline and will instead liquidate, redeeming all shares at $10.03 per share.

Aquaron (AQUNU) Prices $50M IPO

Oct 4, 2022 IPOs by Marlena Haddad

Aquaron Acquisition Corp. priced its $50 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “AQUNU” Tuesday, October 4, 2022.

The new SPAC intends to identify targets in the new energy sector that are based in the U.S.

Austerlitz I and II (AUS, ASZ) File to Liquidate Early

Oct 3, 2022 INTEL by Marlena Haddad

Austerlitz I (NYSE: AUS) and Austerlitz II (NYSE: ASZ) both filed proxies this afternoon stating that their sponsors are seeking shareholder approval to liquidate early.

The sponsors, Cannae Holdings, Inc. (NYSE: CNNE) and Trasimene Capital Management, believe that a completion of a suitable merger is highly unlikely, and it would be in the shareholders’ best interests to return the cash in trust in 2022 rather than wait for expiration in 2023.

Freedom Acquisition 1 Corp. (FACT) to Combine with Complete Solaria in $553M Deal

Oct 3, 2022 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

Freedom I (NYSE:FACT) has entered into a definitive agreement to combine with solar services company Complete Solaria at an enterprise value of $553 million, or 4.6x its 2022E revenue. Complete Solaria is to be a combination of two California-based residential solar technology companies. The combined company is expected to trade on the NYSE under the
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The Latest SPAC News and Rumors: October 3, 2022

Oct 3, 2022 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: LiveWire climbs in volatile trading and Rocket Lab to fire up first tests of new engine next year

Harley-Davidson’s E-Bike Spinoff Climbs in Volatile Trading

LiveWire Group Inc. (NYSE:LVWR)

TradeUP (UPTD) to Combine with Estrella Biopharma in $398M Deal

Oct 3, 2022 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

TradeUP (NASDAQ:UPTD) has entered into a definitive agreement to combine with biopharma firm Estrella at a pro forma equity valuation of about $398.5 million. Emeryville, California-based Estrella is developing three potential cancer therapies aimed at improving the effectiveness of T-cell treatments. The combined company is expected to trade on the Nasdaq once the deal is
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LanzaTech Secures $500M Partnership for AMCI II (AMCI) Deal

Oct 3, 2022 Deal Announcements & Amendments, INTEL by Marlena Haddad

AMCI II (NASDAQ:AMCI) target LanzaTech, an innovative Carbon Capture and Transformation (“CCT”) company, announced this morning that it has secured a $500 million partnership for its proposed business combination.

The sustainable materials-maker will partner with Brookfield Renewable, and its institutional partners, to co-develop and build new commercial-scale production plants that will utilize LanzaTech’s CCT technology.

GigCapital5 (GIA) Signs Term Sheet with QT Imaging

Oct 3, 2022 Deal Announcements & Amendments, INTEL by Marlena Haddad

GigCapital5 (NYSE:GIA) announced this morning that it has signed a non-binding, exclusive term sheet to combine with medical imaging company QT Imaging.

Details on the transaction remain limited, but the parties intend to complete the proposed business combination in the first half of 2023.

Athena Consumer Acquisition Corp. (ACAQ) Adds $15M to e.GO Deal

Oct 3, 2022 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

Athena Consumer (NYSE:ACAQ) announced in an 8-K this morning that it has added $15 million in bridge financing to its combination with EV-maker e.GO.

Brucke Funding has provided the funding which is drawable in three tranches maturing at the earlier of the deal’s close or nine months out from the first borrowing.

Third Quarter of 2022 SPAC Review

Oct 3, 2022 Headline Post, INTEL by Kristi Marvin

An In-Depth Look at SPAC Activity Throughout the Third Quarter and Year-to-Date

Below is a summary of SPAC performance in 2022 year-to-date.

Now that the third quarter of 2022 has come to a close, we take a look back at year-to-date activity.

SPAC IPO Terms Tracker: Wrapping Up Q3

Oct 1, 2022 INTEL by sam.beattie

Terms Tracker for the Week Ending September 30th, 2022 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. For the last week of the third quarter, there were zero new S-1 registration statements and two IPOs. September has ended the month with just
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SPAC Lock-Up Expirations to Watch in October

Sep 30, 2022 INTEL by Nicholas Alan Clayton

The pace of lock-up expirations is cooling with the weather as the month of October is set to see just six target companies and nine sponsors newly free to trade. These de-SPACs enter October following the worst September for stocks overall since 2008. As such, it’s far from the best time for newly released shareholders
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The Latest SPAC News and Rumors: September 30, 2022

Sep 30, 2022 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: Billtrust surges on go-private deal, and Robinhood trader ‘deceived’ by Nikola founder snubs SEC filings

FinTech IPO Index Flat as Billtrust Surges on Go-Private Deal

Tech stocks have had a reckoning in the past several days — a rally proved short lived, a blip.

Magnum Opus (OPA) to Combine with Asia Innovations

Sep 30, 2022 Deal Announcements & Amendments, INTEL by Marlena Haddad

Magnum Opus (NYSE:OPA) has entered into a definitive agreement to combine with consumer internet company Asia Innovations Group Limited (“ASIG”) at an equity valuation of $2.5 billion. Singapore-based Asia Innovations is a mobile social company serving over 400 million registered users located in over 150 countries and regions worldwide. The combined company is expected to trade under
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