The Latest SPAC News and Rumors: August 16, 2023

Aug 16, 2023 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: Marcum LLP cites SEC charges as reason it stepped down as auditor of DWAC and Avertix Medical partners with Heart & Rhythm Institute of Trinity

Trump-Linked SPAC Auditor Cites SEC Charges as Trigger to Quit

Audit firm Marcum LLP said Tuesday it decided to step down as auditor of the blank-check company trying to take Donald Trump’s media company public after its client settled US regulator fraud charges in July.

Moringa Acquisition Corp. (MACA) Adjourns Extension Vote

Aug 16, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Nicholas Alan Clayton

Moringa Acquisition Corp. (NASDAQ:MACA) announced that it adjourned its extension vote this morning without conducting any business and would reconvene it at 10:30AM ET August 18.

Shareholders are to vote on whether to give the SPAC one more year for its target search, moving its deadline from August 19 of this year to the same date in 2024.

Papaya Growth Opportunity Corp. I (PPYA) to Postpone Extension Vote

Aug 16, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Nicholas Alan Clayton

Papaya Growth Opportunity Corp. I (NASDAQ:PPYA) announced in an 8-K this morning that it plans to postpone its upcoming special meeting from 11 am ET this morning to the same time August 30.

Hammerhead Energy Inc. (HHRS) Calls Remaining Warrants for Cash

Aug 16, 2023 Headline Post, INTEL by Nicholas Alan Clayton

Hammerhead Energy (NASDAQ:HHRS), which combined with Decarbonization Plus IV earlier this year, announced this morning that it will redeem all outstanding public warrants for $0.10 per warrant.

Holders will have the option of exercising each warrant for $11.50 per share or do so on a cashless basis.

Pono Capital Three (PTHR) to Combine with Horizon Aircraft in $216M Deal

Aug 16, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Pono Three (NASDAQ:PTHR) has entered into a definitive agreement to combine with eVTOL aircraft developer Horizon Aircraft at an equity value of $216 million.

Toronto-based Horizon has developed a hybrid eVTOL design that involves lifting the craft vertically with rotors inside its wings and forward with a larger propeller at its rear.

two (TWOA) to Combine with LatAm Logistic Properties in $578M Deal

Aug 15, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

two (NYSE:TWOA) has entered into a definitive agreement to combine with developer LatAm Properties at an enterprise value of $578 million, or 26x its 2022 EBITDA.

San Jose, Costa Rica-based LatAm Logistic owns and leases a range of industrial properties in Central and South America.

The Latest SPAC News and Rumors: August 15, 2023

Aug 15, 2023 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: Grove Collaborative replaces CEO and raises $10M, VinFast surges in Nasdaq trading debut, and Crowe pays $750k to settle SEC charges over SPAC audit failures

Grove Collaborative Changes CEO, Raises $10 Million After SPAC Flameout

Grove Collaborative Holdings (NYSE:GROV) is replacing its longtime chief executive officer after the seller of household essentials struggled since being taken public during the SPAC craze of the past few years.

TortoiseEcofin Acquisition Corp. III (TRTL) to Combine with One Energy Enterprises in $384M Deal

Aug 15, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

TortoiseEcofin Acquisition Corp. III (NYSE: TRTL) announced in a press release this morning that it has entered into a definitive agreement to combine with power solutions company One Energy Enterprises (“One Power”) at a pro forma enterprise valuation of $384 million. Findlay, Ohio-based One Power is a vertically integrated industrial power solutions provider. It specializes in developing, constructing, owning, and
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Prime Number Acquisition I Corp. (PNAC) to Adjourn Completion Vote

Aug 15, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Nicholas Alan Clayton

Prime Number I (NASDAQ:PNAC) announced this morning that it plans to adjourn its upcoming vote to complete its combination with EV battery-maker Noco-Noco.

The special meeting was set to be held at 9 am ET today, but will be pushed to 10 am ET tomorrow.

The Latest Non-Redemption Agreements: August 14, 2023

Aug 14, 2023 Deal Announcements & Amendments, INTEL by Marlena Haddad

Latest Non-Redemption Agreements: Kensington Capital V

Kensington Capital Acquisition Corp. V (KCGI) Adds Non-Redemption Agreement

On August 11, and August 14, Kensington Capital V (NYSE:KCGI) and its sponsor entered into agreements with several unaffiliated third parties in exchange for them agreeing not to redeem an aggregate of 2,600,000 Class A ordinary shares.

The Latest Liquidations: August 14, 2023

Aug 14, 2023 INTEL by Marlena Haddad

Latest SPAC Liquidations: Pivotal Investment Corp. III

Pivotal Investment Corporation III (PICC) to Liquidate

As previously disclosed, Pivotal Investment Corporation III (OTC:PICC) had called a special meeting of stockholders to consider and vote on an extension.

M3-Brigade Acquisition III Corp. (MBSC) Proposes Warrant Offer

Aug 14, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

M3-Brigade III (NYSE:MBSC) noted in a proxy filing today that it would be putting forward a proposal at an upcoming shareholder vote to amend the warrant agreement and buy back all outstanding warrants.

FG Merger Corp. (FGMC) Adds FPA to iCoreConnect Deal

Aug 14, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

FG Merger Corp. (NASDAQ:FGMC) announced in an 8-K this afternoon that it has signed a prepaid forward purchase agreement (FPA) with RiverNorth SPAC Arbitrage Fund in connection to its combination with iCoreConnect.

Black Spade Acquisition Co (BSAQ) Closes VinFast Deal

Aug 14, 2023 Headline Post, INTEL by Nicholas Alan Clayton

Black Spade (NYSE:BSAQ) announced that it has closed its combination with Vietnamese EV-maker VinFast and the combined company’s shares and warrants will begin trading under the symbols “VFS” and “VFSWW” tomorrow, August 15.

AlphaVest Acquisition Corp. (ATMV) to Combine with Wanshun

Aug 14, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

AlphaVest Acquisition Corp (NASDAQ: ATMV) has entered into a definitive agreement to combine with peer-to-peer ride-hailing marketplace Wanshun Technology Industrial Group Limited.

Shenzhen, China-based Wanshun engages primarily in a peer-to-peer marketplace for on-demand ride hailing services with around 5.8 million registered drivers.

Landcadia Holdings IV Inc. (LCA) Proposes Warrant Offer

Aug 14, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Landcadia IV (NASDAQ:LGA) noted in a preliminary 14A filing today that it would be putting forward a proposal at an upcoming shareholder vote to buy back all outstanding warrants for undisclosed cash compensation.

Prime Number Acquisition I Corp. (PNAC) Adds FPA to Noco-Noco Deal

Aug 14, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Prime Number I (NASDAQ:PNAC) announced in an 8-K this morning that it has signed a forward purchase agreement (FPA) with Meteora Capital Partners affiliates covering up to 2,000,000 shares.

Meteora is to buy up to this amount of shares and will be issued 2,000,000 shares less any amounts it purchases.

Oak Woods Acquisition Corporation (OAKU) to Combine with Huajin in $250M Deal

Aug 14, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Oak Woods (NASDAQ:OAKU) announced in an 8-K this morning that it has entered into a definitive agreement to combine with Huajin at a valuation of $250 million.

Transaction Overview

Oak Woods has about $58.5 million in its trust with a transaction deadline coming up on September 28.

SPAC IPO Terms Tracker: August 11, 2023

Aug 12, 2023 Headline Post, INTEL by Kristi Marvin

Terms Tracker for the Week Ending August 11, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. While the Announced deals category has gotten some heat in August with six deals announced this week alone and 10 month-to-date (which beats July’s total
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The Latest Liquidations: August 11, 2023

Aug 11, 2023 INTEL by Marlena Haddad

Latest SPAC Liquidations: Apeiron Capital Investment Corp.

Apeiron Capital Investment Corp. (APNC) Terminates GIO World Health Deal, Intends to Liquidate on August 14

Apeiron Capital Investment Corp. (OTCMKTS:APNC) announced today that it has notified GIO World Health, Ltd.