A Close Look at the 2021 IPOs and SPAC Underwriter Performance

Apr 5, 2024 Headline Post, INTEL by Nicholas Alan Clayton

The financial press may not always jump at the chance to tell SPAC success stories and given that de-SPACs frequently have a period of post-close churn, the most recent deals tend to confirm the mainstream’s priors. But, given time to prove themselves to the market, a great deal of de-SPACs from the boom year of
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Morning SPAC News Roundup: April 5, 2024

Apr 5, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn A busy week of Fed chatter culminates this week with an update on March’s job numbers at 8:30 am ET, which economists expect to come in at 275,000 new jobs added. Of course, great job news is not necessarily great rate cut news, but there has been increasing suspicion that
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Morning SPAC News Roundup: April 4, 2024

Apr 4, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn After a couple months of smaller IPOs with an overall inconclusive performance, the debuts of Reddit (NYSE:RDDT) and Astera (NASDAQ:ALAB) have seemingly put the first real wind into the sails of the IPO market. 2024 is now officially having the best start of the year for fresh IPOs since 2019
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Morning SPAC News Roundup: April 3, 2024

Apr 3, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn While a handful of de-SPACs have captured investor excitement in the bottle after close, it has seemed as though the days of SPACs trading significantly above their trust value before close were a particularity of the 2021 high times. The lone exception was of course Digital World, but AltC (NYSE:ALCC)
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Cactus Acquisition Corp. 1 (CCTS) Inks $838M LOI to Combine with Tembo

Apr 2, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Cactus Acquisition Corp. 1 (NASDAQ:CCTS) has signed a binding heads of agreement to exclusively negotiate to combine with EV maker Tembo in a deal currently giving the firm an $838 million equity valuation. A “binding heads of agreement” is a more common phrase in the UK, where Tembo and its parent company VivoPower (NASDAQ:VVPR) are
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Morning SPAC News Roundup: April 2, 2024

Apr 2, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn The ability to place bets on the companies that could emerge to be fresh new competitors to Tesla is a big part of what drove the “Deals with Wheels” period of SPAC transactions in 2020 and 2021. But, outside of a few niche wearables plays, SPACs have generally not sought
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March Corporate Actions Analysis

Apr 1, 2024 Headline Post, INTEL by Anthony Sozzi

As the quarter comes to an end, there seems to be no slowing down amongst teams asking shareholders to approve additional times for them to complete business combinations. The “time to complete” appears to be slipping away for most teams as the time runs out and trust accounts slowly deplete after allowing for numerous extensions.
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Morning SPAC News Roundup: April 1, 2024

Apr 1, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn The first week of April starts off with a bang with three completion votes and an extension today, but all four of these votes have already been postponed at least once, so further delays would not be unexpected. One sector that is certainly hoping for fewer bangs is the commercial
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Month: April 2024