The Latest SPAC News and Rumors: August 21, 2023

Aug 21, 2023 INTEL, SPACs in the News by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: WeWork plunges another 11% following reverse stock split announcement

WeWork Plunges Another 11% After Announcing Reversing Stock Split To Try And Keep NYSE Listing

WeWork (NYSE:WE), the office-sharing company once valued at $47 billion, said Friday it will undergo a 1-for-40 reverse stock split to try and keep its stock from being delisted.

The Growth for Good Acquisition Corp. (GFGD) Postpones Completion Vote

Aug 18, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

The Growth for Good Acquisition Corp. (NASDAQ: GFGD) has decided to push back its completion vote, originally scheduled for August 23, until 10:00 a.m. ET on August 28.

The SPAC stated that it is working through certain agreements for the subscription of shares in a PIPE financing upon the completion of its contemplated business combination with off-highway EV-maker ZeroNox.

The Latest Non-Redemption Agreements: August 18, 2023

Aug 18, 2023 Deal Announcements & Amendments, INTEL by Marlena Haddad

Latest Non-Redemption Agreements: Northern Star Investment Corp. IV, Northern Star Investment Corp. III

Northern Star Investment Corp. IV (NSTD) Adds Non-Redemption Agreement

On August 18, Northern Star IV Sponsor LLC, the sponsor of Northern Star Investment Corp.

The Latest Liquidations: August 18, 2023

Aug 18, 2023 INTEL by Marlena Haddad

Latest SPAC Liquidations: Atlantic Coastal

Atlantic Coastal Acquisition Corp. (ACAH) to Liquidate on August 18

Atlantic Coastal Acquisition Corp. (NASDAQ: ACAH) today announced that it will redeem all of its outstanding shares of Class A common stock, effective as of August 18, because the company will not be able to consummate an initial business combination.

Genesis Growth Tech Acquisition Corp. (GGAA) Mutually Terminates NextTrip Deal

Aug 18, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

Genesis Growth Tech Acquisition Corp. (NASDAQ:GGAA) announced this afternoon that it has mutually terminated its combination with travel technology firm NextTrip just months after their deal announcement.

The parties did not disclose why they decided to nix the deal and did not provide further details.

The Latest SPAC News and Rumors: August 18, 2023

Aug 18, 2023 Headline Post, INTEL, SPACs in the News by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: WeWork plans 1-for-40 reverse stock split, Babylon files for bankruptcy for two of its subsidiaries, and Golden Rock Global to acquire 2Mee

WeWork Plans 1-for-40 Reverse Stock Split to Save Listing

WeWork Inc.

LAMF Global Ventures Corp. I (LGVC) to Combine with Nuvo Group in $269M Deal

Aug 18, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

LAMF Global Ventures Corp. I (NASDAQ:LGVC) has entered into a definitive agreement to combine with women’s health innovator Nuvo Group at a pre-money equity valuation of $269 million.

Tel Aviv-based Nuvo is committed to reinventing pregnancy care for the 21st century through new technology, tools, and practices for providers and expectant mothers.

99 Acquisition Group Inc. (NNAG) Prices Downsized $75M IPO

Aug 18, 2023 Headline Post, INTEL, IPOs by Marlena Haddad

99 Acquisition Group Inc. announced the pricing of its downsized $75 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “NNAGU” on Friday, August 18, 2023.

Roivant (ROIV) Announces Fair Market Value for Warrant Redemption

Aug 17, 2023 Headline Post, INTEL by Marlena Haddad

Roivant (Nasdaq: ROIV), which completed its combination with Montes Archimedes in September 2021, announced this afternoon the fair market value in connection to redeeming its outstanding public and private warrants for $0.10 per warrant.

The Latest SPAC News and Rumors: August 17, 2023

Aug 17, 2023 Headline Post, INTEL, SPACs in the News by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: Wheels Up secures $500M lifeline but still faces turnaround challenges, and DWAC rallies as sponsors push for more time

Wheels Up flies for now, but private-jet rivals see opportunity

Loss-making private jet firm Wheels Up Experience (NYSE:UP) nabbed a key $500 million lifeline but still faces turnaround challenges, as demand for private travel softens in the wake of the COVID-19 pandemic and rival operators lure some of their customers.

The Latest Liquidations: August 16, 2023

Aug 16, 2023 INTEL by Marlena Haddad

Latest SPAC Liquidations: EdtechX Holdings Acquisition Corp. II

EdtechX Holdings Acquisition Corp. II (EDTX) to Liquidate

As previously disclosed, on June 21, EdtechX Holdings Acquisition Corp. II (NASDAQ:EDTX) notified zSpace that it was terminating its business combination.

Yotta (YOTA) Addresses NaturalShrimp’s Unfulfilled Termination Fee

Aug 16, 2023 Headline Post, INTEL by Marlena Haddad

Yotta Acquisition Corp. (NASDAQ:YOTA) announced this afternoon in an 8-K filing that NaturalShrimp (OTCQB:SHMP) has not fulfilled its obligation to pay the termination fee following the cancellation of their proposed business combination.

The Latest SPAC News and Rumors: August 16, 2023

Aug 16, 2023 Headline Post, INTEL, SPACs in the News by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: Marcum LLP cites SEC charges as reason it stepped down as auditor of DWAC and Avertix Medical partners with Heart & Rhythm Institute of Trinity

Trump-Linked SPAC Auditor Cites SEC Charges as Trigger to Quit

Audit firm Marcum LLP said Tuesday it decided to step down as auditor of the blank-check company trying to take Donald Trump’s media company public after its client settled US regulator fraud charges in July.

The Latest SPAC News and Rumors: August 15, 2023

Aug 15, 2023 INTEL, SPACs in the News by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: Grove Collaborative replaces CEO and raises $10M, VinFast surges in Nasdaq trading debut, and Crowe pays $750k to settle SEC charges over SPAC audit failures

Grove Collaborative Changes CEO, Raises $10 Million After SPAC Flameout

Grove Collaborative Holdings (NYSE:GROV) is replacing its longtime chief executive officer after the seller of household essentials struggled since being taken public during the SPAC craze of the past few years.

TortoiseEcofin Acquisition Corp. III (TRTL) to Combine with One Energy Enterprises in $384M Deal

Aug 15, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

TortoiseEcofin Acquisition Corp. III (NYSE: TRTL) announced in a press release this morning that it has entered into a definitive agreement to combine with power solutions company One Energy Enterprises (“One Power”) at a pro forma enterprise valuation of $384 million. Findlay, Ohio-based One Power is a vertically integrated industrial power solutions provider. It specializes in developing, constructing, owning, and
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The Latest Non-Redemption Agreements: August 14, 2023

Aug 14, 2023 Deal Announcements & Amendments, INTEL by Marlena Haddad

Latest Non-Redemption Agreements: Kensington Capital V

Kensington Capital Acquisition Corp. V (KCGI) Adds Non-Redemption Agreement

On August 11, and August 14, Kensington Capital V (NYSE:KCGI) and its sponsor entered into agreements with several unaffiliated third parties in exchange for them agreeing not to redeem an aggregate of 2,600,000 Class A ordinary shares.

The Latest Liquidations: August 14, 2023

Aug 14, 2023 INTEL by Marlena Haddad

Latest SPAC Liquidations: Pivotal Investment Corp. III

Pivotal Investment Corporation III (PICC) to Liquidate

As previously disclosed, Pivotal Investment Corporation III (OTC:PICC) had called a special meeting of stockholders to consider and vote on an extension.

M3-Brigade Acquisition III Corp. (MBSC) Proposes Warrant Offer

Aug 14, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

M3-Brigade III (NYSE:MBSC) noted in a proxy filing today that it would be putting forward a proposal at an upcoming shareholder vote to amend the warrant agreement and buy back all outstanding warrants.

FG Merger Corp. (FGMC) Adds FPA to iCoreConnect Deal

Aug 14, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

FG Merger Corp. (NASDAQ:FGMC) announced in an 8-K this afternoon that it has signed a prepaid forward purchase agreement (FPA) with RiverNorth SPAC Arbitrage Fund in connection to its combination with iCoreConnect.

AlphaVest Acquisition Corp. (ATMV) to Combine with Wanshun

Aug 14, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

AlphaVest Acquisition Corp (NASDAQ: ATMV) has entered into a definitive agreement to combine with peer-to-peer ride-hailing marketplace Wanshun Technology Industrial Group Limited.

Shenzhen, China-based Wanshun engages primarily in a peer-to-peer marketplace for on-demand ride hailing services with around 5.8 million registered drivers.

Author: Marlena Haddad

Latest SPAC News: WeWork plunges another 11% following reverse stock split announcement

WeWork Plunges Another 11% After Announcing Reversing Stock Split To Try And Keep NYSE Listing

Latest Non-Redemption Agreements: Northern Star Investment Corp. IV, Northern Star Investment Corp. III

Northern Star Investment Corp. IV (NSTD) Adds Non-Redemption Agreement

Latest SPAC Liquidations: Atlantic Coastal

Atlantic Coastal Acquisition Corp. (ACAH) to Liquidate on August 18

Latest SPAC News: WeWork plans 1-for-40 reverse stock split, Babylon files for bankruptcy for two of its subsidiaries, and Golden Rock Global to acquire 2Mee

WeWork Plans 1-for-40 Reverse Stock Split to Save Listing

Latest SPAC News: Wheels Up secures $500M lifeline but still faces turnaround challenges, and DWAC rallies as sponsors push for more time

Wheels Up flies for now, but private-jet rivals see opportunity

Latest SPAC Liquidations: EdtechX Holdings Acquisition Corp. II

EdtechX Holdings Acquisition Corp. II (EDTX) to Liquidate

Latest SPAC News: Marcum LLP cites SEC charges as reason it stepped down as auditor of DWAC and Avertix Medical partners with Heart & Rhythm Institute of Trinity

Trump-Linked SPAC Auditor Cites SEC Charges as Trigger to Quit

Latest SPAC News: Grove Collaborative replaces CEO and raises $10M, VinFast surges in Nasdaq trading debut, and Crowe pays $750k to settle SEC charges over SPAC audit failures

Grove Collaborative Changes CEO, Raises $10 Million After SPAC Flameout

Latest Non-Redemption Agreements: Kensington Capital V

Kensington Capital Acquisition Corp. V (KCGI) Adds Non-Redemption Agreement

Latest SPAC Liquidations: Pivotal Investment Corp. III

Pivotal Investment Corporation III (PICC) to Liquidate