Summit Healthcare Acquisition Corp. (SMIH) to Combine with YS Biopharma in $1Bn Deal

Sep 30, 2022 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

Summit (NASDAQ:SMIH) has entered into a definitive agreement to combine with drug-maker YS Biopharma at an enterprise value of $1.08 billion, or about 15.2x its 2022E revenue. The Beijing-based company currently makes a rabies vaccine for the Chinese market and is working to commercialize a range of new vaccines and other treatments. The combined company
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Deep Medicine (DMAQ) Terminates Chijet Motor Company Deal

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

Deep Medicine (NASDAQ:DMAQ) announced this morning that it has terminated its $2.5 billion combination with Chinese carmaker Chijet.

Deep Medicine’s move comes after it made two amendments to the deal to extend the due diligence period.

Top 3 SPAC Targets – Beauty and Personal Care

Sep 30, 2022 Headline Post, INTEL by Nicholas Alan Clayton

SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among beauty and personal care companies with financial profiles to lure the market. We look at why they are compelling and why each could be a fit for a blank-check merger.

dMY Squared Technology Group, Inc. (DMYY.U) Prices Downsized $60M IPO

Sep 29, 2022 IPOs by Marlena Haddad

dMY Squared Technology Group, Inc. priced its downsized $60 million IPO and its units are expected to begin trading on the NYSE under the symbol “DMYY.U” Friday, September 30, 2022.

The new SPAC intends to focus its efforts on companies within the professional service industry that provide accounting, legal, financial, advisory or other services to public companies or private companies that are in the process of becoming public companies with enterprise valuations in the range of $500 million to $2 billion.

Qomolangma Acquisition Corp. (QOMOU) Prices $50M IPO

Sep 29, 2022 IPOs by Marlena Haddad

Qomolangma Acquisition Corp. priced its $50 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “QOMOU” Friday, September 30, 2022.

The new SPAC intends to focus its efforts on technology companies operating in Asian markets that have a total enterprise value between $300 million and $500 million.

Chardan NextTech 2 (CNTQ) Secures $75M Loan for Dragonfly Deal

Sep 29, 2022 Deal Announcements & Amendments, INTEL by Marlena Haddad

Chardan NextTech Acquisition 2 Corp. (NASDAQ:CNTQ) announced this afternoon that it has secured a $75 million loan for its combination with energy storage firm Dragonfly Energy.

The parties entered into a debt commitment letter with CCM Investments 5 LLC, an affiliate of Chardan Capital Markets, and EICF Agent LLC, for a $75 million senior secured term loan facility concurrently with the closing under the business combination agreement.

Liberty Media Acquisition Corp. (LMAC) Files to Liquidate Early by Vote

Sep 29, 2022 De-SPAC Votes and Redemptions, INTEL by Kristi Marvin

Liberty Media Acquisition Corp. (Nasdaq: LMAC) filed a proxy this afternoon for a shareholder vote to liquidate early. Liberty Media’s current completion deadline is January 26, 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.

East Stone (ESCC) Secures $200M PIPE, Terminates $400M

Sep 29, 2022 Deal Announcements & Amendments, INTEL by Marlena Haddad

East Stone Acquisition Corp. (NASDAQ:ESCC) announced this afternoon that it has once again secured another $200 million PIPE commitment for its business combination with EV-maker ICONIQ.

This marks ESCC’s fourth PIPE round.

The Latest SPAC News and Rumors: September 29, 2022

Sep 29, 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: Polestar teases new details about electric SUV, Gogoro secures $345M loan, and Jupiter Wellness announces application for dual listing on Upstream

Polestar teases new details about its electric SUV ahead of October 12th launch

The Polestar 3, the aptly named third vehicle from the Swedish EV company, will be officially unveiled October 12th at an event in Copenhagen, the company announced.

DTRT Health Acquisition Corp. (DTRT) to Combine with Consumer Direct Holdings

Sep 29, 2022 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

DTRT Health (NASDAQ:DTRT) has entered into a definitive agreement to combine with healthcare company Consumer Direct at an enterprise value of $681 million, or 10.1x its 2023E EBITDA. Missoula, Montana-based Consumer Direct offers self-directed home care to disabled and elderly clients in 14 states through Medicaid, private insurance and managed healthcare plans. The combined company
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Northern Lights (NLIT) Completes Safe Harbor Deal

Sep 29, 2022 De-SPAC Votes and Redemptions, INTEL by Marlena Haddad

SHF Holdings, Inc (Nasdaq: SHFS), formerly known as Northern Lights Acquisition Corp. (Nasdaq: NLIT), announced in a press release this morning that it has finally completed its combination with cannabis finance provider Safe Harbor.

Brilliant Acquisition Corporation (BRLI) Boosts Bonus Pool for Non-Redeemers

Sep 29, 2022 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

Brilliant (NASDAQ:BRLI) announced that it has effectively doubled the size of its pool of shares to be distributed to shareholders at the close of its combination with crypto payments firm Nukkleus.

Silver Crest (SLCR) Completes Tims China Combination

Sep 29, 2022 De-SPAC Votes and Redemptions, INTEL by Nicholas Alan Clayton

Silver Crest (NASDAQ:SLCR) announced that it has closed its transaction with coffee shop chain Tims China after an extended process.

The SPAC originally held its completion vote on August 19, but opted to give shareholders additional time to reconsider after they initially opted to redeem 99% of shares.

Atlantic Avenue (ASAQ) Adjourns Extension Vote

Sep 28, 2022 De-SPAC Votes and Redemptions, INTEL by Marlena Haddad

Atlantic Avenue (NYSE:ASAQ) announced this afternoon that it intends to adjourn its special meeting on September 29 to October 4.

The special meeting was being held to consider the proposal of amending and extending ASAQ’s transaction deadline by which it must complete its initial business combination.

Billtrust (BTRS) to Be Acquired by EQT Private Equity at $9.50 Per Share

Sep 28, 2022 INTEL by Nicholas Alan Clayton

Billtrust (NASDAQ:BTRS), which combined with South Mountain in January 2021, announced this morning that it has agreed to be acquired by private equity fund EQT in an all-cash deal for $9.50 per share.

The Latest SPAC News and Rumors: September 28, 2022

Sep 28, 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: Cineplex asks Cineworld lenders to consider merger, German government aims to improve framework for SPACs, and Jupiter Wellness announces notice of allowance for Minoxidil Adjuvant Therapies patent

Cineplex Asks Cineworld Lenders to Consider US Merger, WSJ Says

Canadian theater chain Cineplex Inc.

Larkspur Health (LSPR) Secures $10M for ZyVersa Deal

Sep 27, 2022 Deal Announcements & Amendments, INTEL by Marlena Haddad

Larkspur Health (NASDAQ:LSPR) announced this afternoon that it has secured commitments of $10 million for its proposed merger with specialty biopharmaceutical company ZyVersa.

Of that $10 million, $8.5 million will be a PIPE investment in the form of contingent financing that will provide for the purchase of Convertible Preferred Stock of LSPR. Larkspur

The Latest SPAC News and Rumors: September 27, 2022

Sep 27, 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: Bitdeer debuts fund targeting distressed miners, Harley-Davidson EV unit LiveWire’s shares rise 24%

Crypto Tycoon’s Bitdeer Debuts Fund Targeting Distressed Miners

Chinese crypto billionaire Jihan Wu is setting up a $250 million fund to buy distressed assets from Bitcoin miners, as the industry reels from this year’s steep drop in digital-asset prices.

Good Works II Acquisition Corp. (GWII) Signs LOI for $675 Million

Sep 27, 2022 Deal Announcements & Amendments, INTEL by Marlena Haddad

Good Works II Acquisition Corp. (NASDAQ:GWII) announced this morning that it has signed a non-binding letter of intent (LOI) to combine with late-stage biotech company Direct Biologics, LLC at an enterprise value of $675 million. As part of the condition to closing, the combined company is required to have at least $75 million in net
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Malacca Straits Acquisition Company (MLAC) to Combine with Indiev in $600M Deal

Sep 27, 2022 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

Malacca Straits (NASDAQ:MLAC) has entered into a definitive agreement to combine with EV-maker Indiev for equity consideration worth $600 million. Los Angeles-based Indiev is developing two electric vehicle models set to hit the market in 2023. Transaction Overview Malacca Straits brings an estimated $48.6 million into the deal from its current trust and Indiev founder
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