An In-Depth Look at SPAC Activity Throughout the Third Quarter of 2023 Below is a summary of the year-to-date SPAC performance. We’re now three-quarters of the way through 2023 and while activity remains muted, there is a sense that SPACs have run the most difficult part of the “correction” gauntlet and have reached a better
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Athena Consumer Acquisition Corp. (NYSE:ACAQ) announced this afternoon that its stockholders approved its combination with German EV-maker e.GO at a special meeting held earlier today.
Additionally, Athena Consumer’s warrant proposal to convert all outstanding warrants to 0.175 shares in the combined company was also approved.
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Graf Acquisition Corp. IV (NYSE:GFOR) announced in an 8-K this afternoon that its shareholders approved its combination with NKGen Biotech at a special meeting September 25.
A total of 3,386,528 shares were redeemed in connection with the vote, leaving Graf IV with about $27.6 million in the tank and a final redemption rate of 84.3%.
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Anzu Special Acquisition Corp I (NASDAQ:ANZU) has closed its combination with Envoy Medical and its shares and warrants are to begin trading on the Nasdaq under the symbols “COCH” and “COCHW” on October 2.
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Mercato Partners (NASDAQ:MPRA) closed its combination with Brazilian software firm Nuvini this afternoon and its shares and warrants are expected to begin trading on the Nasdaq under the symbols “NVNI” and “NVNIW” on October 2.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
A $1 billion metals deal by blank-cheque fund ACG Acquisition Co has been terminated following delays when the different sides, which included a leading global miner and top automakers as anchor investors, tried to revise it, ACG said on Thursday.
TradeUP (NASDAQ:UPTD) announced this morning that it has closed its combination with Estrella Biopharma and its shares and warrants will begin trading on the Nasdaq under the symbols “ESLA” and “ESLAQ” on October 2.
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Mobiv Acquisition Corp. (NASDAQ:MOBV) announced this morning that its shareholders approved its combination with EV motorcycle-maker SRIVARU at a special meeting September 28.
Redemptions whittled Mobiv’s IPO share pool of 10,005,000 down to 195,992 through the vote.
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Hennessy Capital Investment Corp VI (NASDAQ:HCVI) announced overnight that it plans to adjourn today’s 9 am ET extension vote and reopen it at 3 pm ET this afternoon.
This does not technically change the redemption deadline for investors, but those wishing to withdraw their redemption requests may still do so by 2 pm ET today.
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Schultze Special Purpose Acquisition Corp. II (Nasdaq: SAMA), announced that it will redeem all of the outstanding shares of its Class A common stock effective as of October 11, 2023.
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Mercato Partners Acquisition Corporation (NASDAQ:MPRA) announced this afternoon via 8-K that its shareholders have approved its combination with Nuvini at a special meeting held earlier today.
With 79.74% of the voting power of the Common Stock participating in the vote, the combination was overwhelmingly approved.
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Home Plate Acquisition Corporation (NASDAQ:HPLT) announced that it adjourned this morning’s extension vote without conducting any business and it will pick things up again at 11 am ET October 2.
Shareholders at the meeting are to consider giving Home Plate an extra two and half months to complete a deal, moving its deadline from October 4 to December 22.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
U.S.
Fortune Rise Acquisition Corp. (NASDAQ:FRLA) announced this morning that it has changed the target of its letter of intent to combine, but only partially.
The SPAC had an existing LOI to merge with its own sponsor, but since that sponsor is now a subsidiary of another company it has to combine with a different version of itself.
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LatAmGrowth SPAC (NASDAQ:LATG) announced in a filing this morning that it will once adjourn its special meeting to liquidate early a second time and will reconvene it at October 5.
The proposals on its ballot would initiate the process of winding down the SPAC and return all trust capital to investors outside of $100,000 for dissolution expenses.
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Jaguar Global (NASDAQ:JGGC) announced this morning that its shareholders approved its combination with glass-maker GLAAM at a special meeting September 27.
The parties have not yet released redemption figures or a timeline to close, but the combined company is expected to change its name to Captivision.
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Mercato Partners (NASDAQ:MPRA) announced in an 8-K this morning that it has tacked on $1.7 million more to the PIPE for its combination with Brazilian software firm Nuvini.
The move comes as its shareholders are to vote to complete the deal later today and adds to $11.1 million in PIPE funds it secured earlier this week.
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Crixus BH3 (NASDAQ:BHAC) announced in an 8-K this morning that it will sell its most of its sponsor shares and warrants to a new sponsor entity, which will continue to lead the SPAC.
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