26 Capital Acquisition Corp. (NASDAQ:ADER) announced this morning that it has postponed its special meeting to approve its combination with gambling resort Okada Manila following a criminal and legal issue involving a former director of the company.
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Mountain Crest III (NASDAQ:MCAE) announced this afternoon that it has amended its merger agreement in connection to its proposed business combination with healthcare group ETAO.
As part of the amended merger agreement, Mountain Crest III has reduced ETAO’s valuation from $2.5 billion to just $1 billion due to unfavorable market conditions, ETAO’s financial statements, and its failure to close a private placement of its securities in the amount of $51 million that was scheduled to close on or before February 15, 2022.
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G Squared Ascend I Inc. (NYSE:GSQD) announced this afternoon that it has amended its business combination agreement and FPA in connection to its proposed merger with digital freight platform Transfix.
Under the amended business combination agreement, the parties have extended the outside date to November 3, 2022, increased the minimum cash closing condition from $150 million to $200 million, and permitted Transfix to enter into preliminary discussions to issue equity securities to third parties as consideration in an acquisition.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Electric Last Mile Solutions Inc.
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Biotech Acquisition Company (NASDAQ:BIOT) announced this morning that it has mutually terminated its combination agreement with biopharmaceutical firm Blade Therapeutics.
Although the parties did not disclose the reason for the deal termination, it is likely due to unfavorable market conditions or difficulty satisfying closing conditions.
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8i Acquisition 2 (NASDAQ:LAX) announced this afternoon that it has amended its Share Purchase Agreement in connection to its business combination with digital health firm EUDA to reduce its consideration payable, and limit the available earn-out payment.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Kacific Broadband Satellites Ltd.
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Globis Acquisition Corp. (NASDAQ:GLAQ) announced this morning that it has closed its combination with Moroccan agribusiness Forafric following a special shareholder meeting held yesterday.
Notably, Globis became just the second SPAC since May 1 to get to the finish line with less than 85% redemptions since May 1.
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Tuatara Capital Acquisition Corp. (NASDAQ:TCAC) announced that its shareholders have voted to approve its combination with cannabis software company springbig in a special meeting held earlier today.
The SPAC saw about 95.6% of its shares redeemed in connection with the vote however, leaving 876,194 public shares remaining, according to the 8-K it filed this morning.
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SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among logistics enterprises. We look at why they are compelling and why each could be a fit for a blank-check merger.
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Acri Capital Acquisition Corp. priced its $75 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ACACU” Friday, June 10, 2022.
The new SPAC intends to focus its search on identifying a prospective target in the technology-enabled industries in North America, namely within the geographic limits of the United States, Canada and Mexico.
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Silver Spike Acquisition Corp. II (NASDAQ:SPKB) announced this afternoon that it has mutually terminated its combination agreement with therapeutic psychedelic firm Eleusis.
Similar to a handful of other SPACs we’ve seen, Silver Spike II cited unfavorable market conditions as the key reason behind the termination.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
D-Orbit, the space logistics and transportation company that is going public through a transaction with Breeze Holdings Acquisition Corp.
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Forge Global (NYSE:FRGE) announced this morning that it will be calling its outstanding warrants and forward purchase warrants for shares to streamline its capital structure.
The public warrants are currently exercisable for an aggregate of 18,466,604 shares of common stock at a price of $11.50 per share.
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Globis Acquisition Corp. (NASDAQ:GLAQ) announced this morning in an 8-K that it has postponed its shareholder meeting and has added a new forward purchase agreement (“FPA”) to its combination with African agribusiness Forafric.
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Altitude Acquisition Corp. (NASDAQ:ALTU) announced this afternoon that it has entered into a non-redemption agreement alongside certain shareholders who supported the recent proposal to extend the time ALTU has to complete its initial business combination.
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Freedom Acquisition I Corp. (NYSE:FACT.U) announced this afternoon that a former member of its sponsor, LVS III SPE XLIII LP, has sold its entire interest to NextG Tech Limited.
Freedom I, which included PIMCO in the sponsor group, still has nearly nine months left to find an acquisition with a deadline date of March 2, 2023.
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