Author: Marlena Haddad

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The Latest SPAC News and Rumors: May 11, 2023


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

Latest SPAC News:  Abu Dhabi family said to plan Middle East’s second SPAC listing


Abu Dhabi Family Plans Middle East’s Second SPAC Listing

An investment firm backed by Abu Dhabi’s Al Maskari family is planning to list a blank-check firm in the city, people familiar with the matter said, in what would be the second such deal in the Middle East.

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The Latest Non-Redemption Agreements: May 9, 2023

Latest Non-Redemption Agreements: LAMF Global Ventures I and PowerUp


LAMF Global Ventures Corp. I (LGVC) Adds Non-Redemption Agreement

On May 8, LAMF Global Ventures Corp. I (NASDAQ:LGVC) and the Sponsor entered into further non-redemption agreements with additional unaffiliated third-party investors pursuant to which the Additional Investors have, in connection with the Extension Meeting, agreed not to redeem, or to reverse and revoke any prior redemption election with respect to 1,588,000 Non-Redeemed Shares.

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The Latest SPAC News and Rumors: May 9, 2023


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

Latest SPAC News:  Jupiter Wellness secures foundational patent, SMX and Continental release second application for natural rubber, and Falcon’s Beyond announces robust fan engagement 


Jupiter Wellness Secures Foundational Patent Marking Milestone in Pursuit of Global Hair Loss Market

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The Latest Liquidations: May 8, 2023

Latest SPAC Liquidations: Progress Acquisition Corp.


Progress Acquisition Corp. (PGRW) to Liquidate

On May 7, 2023, the board of directors of Progress Acquisition Corporation (NASDAQ:PGRW) determined that it intends to dissolve and liquidate and will redeem all of the outstanding shares of Class A common stock at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the Company’s trust account divided by the number of then outstanding Public Shares.

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The Latest SPAC News and Rumors: May 8, 2023


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

Latest SPAC News: Singapore TV licensing startup Allrites to merge with Aura FAT Projects and activist investor Impactive takes a stake in Clarivate 


Singapore TV Licensing Startup Allrites to Merge With Aura SPAC

Allrites Holdings Pte, a Singaporean film and television content rights marketplace, has agreed to go public through a merger with US-listed blank check firm Aura FAT Projects Acquisition Corp.

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The Latest Non-Redemption Agreements: May 5, 2023

Latest Non-Redemption Agreements: Maquia Capital Acquisition Corporation, LAMF Global Ventures I, 10X Capital Venture II, and DP Cap I


Maquia Capital Acquisition Corp. (MAQC) Adds Non-Redemption Agreement

On May 5, Maquia Capital Acquisition Corporation (NASDAQ:MAQC) and Maquia Investments North America, LLC entered into a non-redemption agreement with one or more unaffiliated third party or parties in exchange for such third party or third parties agreeing not to redeem an aggregate of 247,883 shares of Class A common stock.

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The Latest Non-Redemption Agreements: May 4, 2023

Latest Non-Redemption Agreements: Pono Capital Two, and Roth CH Acquisition V Co.


Pono Capital Two (PTWO) Adds Non-Redemption Agreement

On May 3, 2023, Pono Capital Two (NASDAQ:PTWO) entered into non-redemption agreements with certain unaffiliated stockholders owning, in the aggregate, 773,682 shares of the Company’s Class A common stock, pursuant to which such stockholders agreed, among other things, not to redeem or exercise any right to redeem such public shares in connection with the extension.

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Galata Acquisition Corp. (GLTA) Amends Deal for Marti

Galata Acquisition Corp. (NYSE: GLTA) announced this afternoon that it has amended its business combination agreement and subscription agreements in connection to its proposed merger with Turkish mobility app Marti.

As part of the amendment, Galata will no longer be required to have a minimum of $50 million in cash on hand, which was previously waived by Marti.

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New SPAC: Prospect Energy Holdings Corp. Files for $300M IPO

Prospect Energy Holdings Corp. (NASDAQ:AMGS) filed its S-1 yesterday for a $300 million IPO, marking the first SPAC to file for an IPO in May and the second largest of the year following Ares II’s (NYSE:AACT) $400 million filing, which was later upsized to $450 million and then exercised a $50 million over-allotment to get it
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