Jiya Acquisition Corp. (NASDAQ:JYAC) announced this afternoon that it will liquidate its trust due to its inability to complete a business combination.
The SPAC expects its shares to stop trading as of the close of business on November 23.
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Population Health Investment Co., Inc. (NASDAQ:PHIC) announced this afternoon that it will liquidate its trust and be redeeming all shares effective as of November 30.
As such, the SPAC’s shares will stop trading as of the close of business on November 29.
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PropTech Investment II (NASDAQ:PTIC) announced this afternoon that its shareholders have approved its business combination with rental marketplace Appreciate during a special meeting held earlier today.
The SPAC did not disclose redemption amounts, but shares of PTIC traded above its trust value of $10 throughout its redemption deadline November 16.
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Traders have long looked to SPACs for special plays around their votes as the post-vote period frequently involves some turnover in holdings that can be attractive to shorts, and redemptions can reduce the stocks to low-float situations prone to easy upward pressure.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Tims China (NASDAQ:THCH) has announced a two-year ready-to-drink (RTD) retail distribution partnership with Chinese grocery chain Freshippo.
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Genius Sports (NYSE:GENI), which completed its combination with dMY Technology Group Inc. II in April 2021, announced this morning that it has started a solicitation of consents from holders of outstanding warrants to amend the exercise period so the warrants will expire on January 18, 2023, instead of on April 20, 2026.
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OPAL Fuels (NASDAQ:OPAL), which combined with ArcLight Clean Transition Corp. II in July, announced this morning that has launched an offer to exchange all public and private placement warrants for 0.25 Class A shares each.
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Kingswood Acquisition Corp. (NYSE:KWAC) announced yesterday afternoon that it is once again adjourning its special meeting.
The SPAC originally adjourned its special meeting on November 15, to November 18, and will now be adjourning the meeting again from November 18, to November 23.
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SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among potential gaming targets. We look at why they are compelling and why each could be a fit for a blank-check merger.
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Cartesian Growth Corporation (NASDAQ:GLBL) announced this afternoon that its shareholders have approved its business combination with wealth management firms Tiedemann Group and Alvarium Investments during a special meeting held earlier today.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Getaround, the world’s first connected carsharing marketplace, announced changes in its senior executive team and proposed Board of Directors to be in place at the closing of the InterPrivate II Acquisition Corp.
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Global Consumer (NASDAQ:GACQ) disclosed this afternoon that its shareholders approved its combination with air care companies GP Global and Luminex at a special meeting held on November 10.
The business combination was overwhelmingly approved as 18,909,414 votes were cast in favor of the deal and 1,730,425 votes against it.
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Quantum FinTech (NYSE:QFTA) has entered into a definitive agreement to acquire AtlasClear, which is itself combining with correspondent clearing broker-dealer Wilson Davis & Co. and acquiring Commercial Bancorp of Wyoming.
The combined company is expected to trade on the NYSE under the symbol “ATCL” once the deal is completed in the second or third quarter of 2023.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Electric aviation and regional air travel company Surf Air Mobility said on Wednesday it had confidentially filed for a direct listing in the United States after terminating its $1.42 billion merger deal with a blank check firm.
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Tuscan Holdings Corp. II (NASDAQ:THCA) announced this morning that it has mutually agreed to terminate its combination with regional air travel company Surf Air Mobility.
The press release included little other information, but an 8-K filing notes that should Surf later complete a direct listing, IPO, private sale or further SPAC transaction between now and November 14, 2025, it will issue 600,000 shares to Tuscan II and as well as either 35,000 shares or $700,000 as a termination fee.
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Tiga Acquisition Corp. (NYSE:TINV) announced in an 8-K this morning that its shareholders have approved its business combination with LGBTQ+ social network Grindr during a special meeting held November 15.
The SPAC did incur 98.2% redemptions, however, which is not far off the average for recent closures, but nonetheless high.
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