Author: Nicholas Alan Clayton

Decarbonization Plus Acquisition Corporation III (DCRC) to Combine with Solid Power in $1.2Bn Deal

Decarbonization Plus III (NASDAQ:DCRC) has entered into a definitive agreement to combine with automotive battery-maker Solid Power at an enterprise value of $1.246 billion, or 37.7x its 2025E. Louisville, Colorado-based Solid Power is developing solid state batteries for the automotive industry with its first installations expected with strategic investors Ford (NYSE:F) and BMW (DE:BMW) in
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Lordstown Hammered, Kranz Hired: Up and Down Movement in De-SPAC’d EVs

Lordstown (NASDAQ:RIDE) is down about 20% in morning trading after the surprise announcement that both its CEO and CFO were stepping down in an unexpected move that followed other bad omens for the company. After an internal investigation prompted by a Hindenburg short-seller report, the company has acknowledged that it overstated the strength of the
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Seven Oaks Acquisiton Corp. (SVOK) to Combine with Boxed in $640M Deal

Seven Oaks (NASDAQ:SVOK) has entered into a definite agreement to combine with ecommerce seller Boxed, at an enterprise value of $640 million, or 2.1x its 2022E revenue. New York-based Boxed sells bulk, high-repeat consumables to both consumers and B2B customers, and it has launched a new initiative to white-label its fulfillment software to other consumer
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Yucaipa Acquisition Corporation (YAC) to Combine with SIGNA Sports in $3.2Bn Deal

Yucaipa (NYSE:YAC) has entered into a definitive agreement to combine with SIGNA Sports United at an enterprise value of $3.23 billion, or 1.9x its 2021E net revenue. Berlin-based SIGNA sells sporting goods through multiple ecommerce brands and will also acquire online bike retailer WiggleCRC through this deal. The combined company is expected to trade on
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Broadstone Acquisition Corp. (BSN) to Combine with Vertical Aerospace in $1.8Bn Deal

Broadstone (NYSE:BSN) has entered into a definitive agreement to combine with electric vertical take-off and landing (eVTOL) aircraft-maker Vertical Aerospace at an enterprise value of $1.84 billion. Bristol, UK-based Vertical Aerospace is developing a model of eVTOL planes designed to make carbon-free air travel and urban air mobility possible. The combined company is expected to
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Venus Acquisition Corporation (VENA) to Combine with VIYI Algorithm in $400M Deal

Venus (NASDAQ:VENA) has entered into a definitive agreement to combine with VIYI Algorithm at a valuation of $400 million. VIYI is a subsidiary of China-based WiMi Hologram Cloud (NASDAQ:WIMI) and is focused on developing bespoke central processing algorithms to optimize client software and hardware systems. The combined company is to be renamed MicroAlgo and will
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Spartacus Acquisition Corporation (TMTS) to Combine with NextNav in $897M Deal

Spartacus (NASDAQ:TMTS) has entered into a definitive agreement to combine with GPS mapping company NextNav at an enterprise value of $897 million, or 11.6x its 2023E revenue. California-based NextNav provides next-generation location data for a variety of industries including public safety, mobile apps and real estate. The combined company is expected to trade under the
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Khosla Ventures Acquisition Co. (KVSA) to Combine with Valo Health in $2.3Bn Deal

Khosla (NASDAQ:KVSA) has entered into a definitive agreement to combine with drug discovery platform Valo Health at a firm value of $2.32 billion. Boston-based Valo Health is a technology company built to accelerate the drug discovery and development process using human-centric data and artificial intelligence (AI) tools. The transaction is expected to close in the
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Kensington Capital Acquisition Corp. II (KCAC) to Combine with Wallbox in $1.5Bn Deal

Kensington II (NYSE:KCAC) has entered into a definitive agreement to combine with electric vehicle (EV) charging station provider Wallbox at an enterprise value of $1.477 billion, or 18.7x its 2021E revenue. Barcelona-based Wallbox provides a suite of EV-charging hardware and energy management systems for residential, semi-public and public use in 67 countries. The combined entity
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GigCapital2, Inc. (GIX) Sweetens & Shrinks Backstop Following Vote

GigCapital2, Inc. (NYSE:GIX) announced in an 8-K filing this morning that it has modified its post-announcement PIPE and convertible note offerings to sweeten the pot following its Friday’s shareholders vote to approve its combination with UpHealth and Cloudbreak. As background as to why, GigCapital2 must maintain at least $150 million in cash available in order
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VPC Impact Acquisition Holdings III (VPCC) to Combine with Dave in $3.5Bn Deal

VPC Impact III (NYSE:VPCC) has entered into a definitive agreement to combine with fintech platform Dave at an enterprise value of $3.56 billion, or 9.4x its 2022E revenue. Dave provides digital banking services with a particular focus on avoiding punitive fees and helping users improve their financial health. The combined company is expected to trade
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GigCapital4 (GIG) to Combine with BigBear.ai in $1.57Bn Deal

GigCapital4 (NASDAQ:GIG) has entered into a definitive agreement to combine with AI technology firm BigBear at an enterprise value of $1.57 billion, or 8.6x its 2021E revenue. Columbia, Maryland-based BigBear is an AI-powered data analytics and risk management firm primarily serving the US defense and intelligence services. The combined company is expected to trade on
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Alkuri Global Acquisition Corporation (KURI) to Combine with Babylon Health in $3.6Bn Deal

Alkuri (NASDAQ:KURI) has entered into a definitive combination agreement with digital healthcare company Babylon at a enterprise value of $3.6 billion, or 5.1x its 2022E revenue. London-based Babylon provides digital self-help care tools and telemedicine services to patients in North America, Europe and Asia and engaged with a patient once every five seconds in 2020.
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Virtuoso Acquisition Corp. (VOSO) to Combine with Wejo in $800M Deal

Virtuoso (NASDAQ:VOSO) has entered into a definitive agreement to combine with vehicle data tracker Wejo at an enterprise value of $800 million, or 2.5x its 2024E net revenue. Manchester, UK-based Wejo has developed a data analysis suite based on tracking connected cars for a wide array of clients seeking predictive intelligence of vehicle ownership, traffic
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Locust Walk Acquisition Corp (LWAC) to Combine with eFFECTOR Therapeutics in $419M Deal

Locust Walk (NASDAQ:LWAC) has entered into a definitive agreement to combine with biopharmaceutical firm eFFECTOR at an enterprise value of $419 million. San Diego-based eFFECTOR has two clinical-stage and one preclinical drug candidates with potential use as cancer therapies. One has also received federal funding to analyze its effectiveness as a COVID-19 antiviral drug. The
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