Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
The co-founders of Electric Last Mile Solutions Inc.
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Murphy Canyon Acquisition Corp. announced the pricing of its $115 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “MURFU” Thursday, February 3.
The new SPAC intends to focus its search on businesses in the real estate industry, including construction, homebuilding, real estate owners and operators, arrangers of financing, insurance, and other services for real estate, and adjacent businesses and technologies targeting the real estate space.
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Queen’s Gambit (NASDAQ:GMBT) has added $21.5 million to the PIPE for its combination with Dubai-based ride-hailer Swvl one day after terminating a previous forward-purchase agreement (FPA).
These additions bring the total PIPE proceeds to $121.5 million and include commitments from the European Bank for Reconstruction and Development (EBRD), Agility, Luxor Capital Group, Chimera, and Zain.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Voltus Inc.,
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SilverBox I (NYSE:IVAN) announced this morning that it expects to receive shareholder approval for its business combination with Black Rifle Coffee, but indicated that the company faced not insignificant redemptions.
The SPAC now expects the deal to deliver $373 million in gross proceeds.
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Environmental Impact Acquisition Corp. (NASDAQ:ENVI) announced this afternoon that its shareholders have approved its combination with biotech firm GreenLight in a special meeting held yesterday.
The 8-K filing did not disclose redemption amounts, but ENVI closed yesterday at $8.57.
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Spring Valley (NASDAQ:SV) has added $30 million more to the PIPE for its combination with nuclear power developer NuScale, bringing total PIPE proceeds to $211 million.
This additional financing ensures that the SPAC will meet the transaction’s $200 million minimum cash condition regardless of redemptions as the parties work towards a close in the second quarter of 2022.
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This week we speak with Robert Piconi, Co-Founder and CEO of Energy Vault. Energy Vault entered into a $1.1 billion combination agreement with Novus Capital II (NYSE: NXU) in September of 2021.
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Ivanhoe Capital (NYSE:IVAN) announced this afternoon that its shareholders have approved its combination with EV battery-maker SES in a special meeting held this morning.
The SPAC announced a preliminary approval of the business combination yesterday, however, Ivanhoe disclosed in an 8-K filing that 22,455,850 shares were presented for redemption, representing 81.362% of the SPACs trust.
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Queen’s Gambit Growth Capital (NASDAQ:GMBT) announced this afternoon that it has terminated its forward purchase agreement (FPA) and subscription agreement in connection to its business combination with mobility tech firm Swvl.
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Merida Merger Corp. I (NASDAQ:MCMJ) announced this afternoon that its shareholders have approved its combination with cannabis enterprise Leafly in a special meeting held this morning.
Although the 8-K filing did not disclose redemption amounts, MCMJ traded below its trust value throughout its redemption deadline January 28, and fell 8.42% today, closing at $6.53.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Primavera Capital, the Chinese private equity firm started by former Goldman Sachs Group Inc.
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Novus Capital Corp. II (NYSE:NXU) announced this morning that it has added $50 million to the PIPE and entered into a licensing agreement for its combination with kinetic energy storage company Energy Vault.
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ECP (NASDAQ:ENNV) announced this morning that it had adjourned the January 31 special meeting convened for its completion vote until February 2, while altering the terms of its combination with supply chain technology firm Fast Radius.
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