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Author: Marlena Haddad

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Silver Spike Acquisition Corp. II (SPKB) Intends to Adjourn Extension Vote Indefinitely

Mar 9, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

Silver Spike Acquisition Corp. II (NYSE:SPKB) announced in an 8-K this afternoon that it intends to adjourn its extension meeting indefinitely.

The SPAC originally scheduled its vote for March 6, but adjourned it to tomorrow, March 10, hoping that the extra days would give its sponsor more time to engage with its investors and possibly ink non-redemption agreements which have become increasingly common.

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The Latest SPAC News and Rumors: March 9, 2023

Mar 9, 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: Marti takes on Istanbul’s top cab group in legal battle, Faraday Future on track to start production of electric SUV, and Presto to use ChatGPT AI

Turkish Ride App Marti Takes on Taxi Boss in Fight for Istanbul’s Megacity Market

Turkish mobility app Marti is in a legal battle over its new taxi-hailing service with Istanbul’s top yellow cab group, as the tech company prepares to list on the New York Stock Exchange through a merger with Galata (NYSE:GLTA).

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The Latest Non-Redemption Agreements: March 8, 2023

Mar 8, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

Latest Non-Redemption Agreements: Inception Growth and Byte

Inception Growth Acquisition Limited (IGTA) Adds Non-Redemption Agreement

On March 6, Inception Growth (NASDAQ:IGTA) and its sponsor, Soul Venture Partners LLC, entered into non-redemption agreements with certain unaffiliated third parties in exchange for such third parties agreeing not to redeem an aggregate of 2,100,000 shares of its common stock in connection with its extension vote on March 13.

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The Latest SPAC News and Rumors: March 8, 2023

Mar 8, 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: Lordstown Motors says it’s looking for a partner to fund EV output, House Subcommittee on Capital Markets to hold hearing on decline in public firms, and Drew Barrymore collaborates with Grove

Lordstown Motors warns startup needs a partner to fund EV output

Lordstown Motors Corp.

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KINS Technology Group Inc. (KINZ) Postpones Completion Vote for Inpixon

Mar 7, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

KINS Technology Group Inc. (NASDAQ:KINZ) announced in an 8-K this afternoon that it has postponed its special meeting to complete its transaction with workplace experience company Inpixon’s (NASDQ:INPX) CXApp application.

The completion vote was originally scheduled to be held tomorrow, March 8, but will now be pushed back until Friday, March 10 at 1:30 p.m.

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Banner Acquisition Corp. (BNNR) Signs LOI With Multiple Targets

Mar 7, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

Banner Acquisition Corp. (NASDAQ: BNNR) this afternoon announced that it has entered into multiple non-binding letters of intent (LOI) with target companies in the property services sector.

The SPAC did not disclose exactly how many targets will be a part of this possible merger, but it intends to continue seeking additional acquisition targets that provide services in similar areas such as cleaning, HVAC, plumbing, landscaping, pest control, and residential solar.

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The Latest SPAC News and Rumors: March 7, 2023

Mar 7, 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: Amprius Technologies files for 5 GWh production facility, and Drilling Tools International announces distribution agreement with CT Energy for RotoSteer

Silicon anode battery producer files for 5 GWh production facility in Colorado

Amprius Technologies has signed a letter of intent to build a 775,000 square foot battery manufacturing facility capable of producing 5 GWh of silicon anode-based lithium-ion batteries in the coming years.

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Genesis Growth Tech Acquisition Corp. (GGAA) Terminates Biolog-id Deal

Mar 6, 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 deal with French medical software firm Biolog-id.

The SPAC originally signed a $312 million memorandum of understanding with the medical software company in August 2022 and intended on financing the combination with about $257.1 million from its trust but never supplemented this with a PIPE.

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The Latest SPAC News and Rumors: March 6, 2023

Mar 6, 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: Lucid Air Grand Touring fails to meet EPA mileage range, Embark Trucks to cut 70% of workforce, and Sonder to reduce employees by 14%

2022 Lucid Air Grand Touring Fails to Meet EPA Mileage Range

The highly anticipated 2022 Lucid Air Grand Touring (NASDAQ:LCID) needs to catch up to its EPA mileage range.

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EF Hutton Acquisition Corporation I (EFHT) to Combine with E.C.D. Auto Design

Mar 6, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad
EF Hutton Acquisition Corporation I (NASDAQ:EFHT) has entered into a definitive agreement to combine with E.C.D. Auto Design at an initial value of $225 million. Kissimmee, Florida-based E.C.D. Auto Design is the industry leader in delivering restored and modified Land Rover Defenders. The combined company is expected to trade on the Nasdaq once the deal is
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Altimar III (ATAQ) Adjourns Extension Vote Again

Mar 3, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

Altimar Acquisition Corp. III (NYSE:ATAQ) announced in an 8-K this afternoon that it has again adjourned its extension vote and will reconvene on March 6 at 4:00 p.m.

A total of 15,801,410 ordinary shares, representing approximately 81.42% of Altimar’s outstanding shares, participated in the meeting, so turnout was not an issue, but it is likely that redemption levels are not yet where the SPAC wants them to be.

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The Latest Non-Redemption Agreements: March 3, 2023

Mar 3, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

Latest Non-Redemption Agreements: Northern Star Investment Corp. III, Northern Star Investment Corp. IV, M3-Brigade II

Northern Star Investment Corp. III (NSTC) Enters Non-Redemption Agreement

Northern Star Investment Corp. III  (NYSE:NSTC) entered into its fourth non-redemption agreement with several unaffiliated third parties in exchange for them agreeing not to redeem an aggregate of 1,400,000 shares in connection with the special meeting to extend its timeline from March 4 to September 4.

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The Latest Liquidations: March 2, 2023

Mar 2, 2023 INTEL by Marlena Haddad

Latest SPAC Liquidations: Build Acquisition, McLaren Technology, and Live Oak Mobility

Build Acquisition Corp. (BGSX) to Liquidate on March 17

Build Acquisition Corp. (NYSE:BGSX) today announced that it will redeem all of its outstanding common stock that was included in the units issued in its initial public offering, effective as of the close of business on March 17, 2023, as the company will not consummate an initial business combination on or prior to March 19, 2023.

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