Investors are about to get a pair of indicators today on the health of the US housing market heading into the new year with both the Mortgage Market and Mortgage Refinance indices announcing this morning.
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Israel Acquisitions Corp. (NASDAQ:ISRL) has entered into a definitive agreement to combine with software firm Pomvom (TA:PMVM) at an equity value of $125 million.
The Tel Aviv-based company provides app-based tools to allow visitors to amusement parks to access media of themselves captured by the venue’s cameras.
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Twelve Seas II (NASDAQ:TWLV) has signed a definitive agreement to combine with aquatic entertainment firm Crystal Lagoons for $350 million in share compensation.
Miami-based Crystal Lagoons has developed the technology to construct large pool-like water features for resorts and entertainment venues.
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The first trading day of the year kicks off with five extension votes, which is fitting because that is likely to be a theme throughout early 2024.
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Christmas is for closers only in 2023, apparently, as the month has featured the most SPAC deals closed all year with 14.
In fact, this is the highest monthly total in two years since the doozy in December 2021 during which 24 deals were closed.
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AIB Acquisition Corporation (NASDAQ:AIB) has entered into a definitive agreement to combine with Hong Kong-based logistics service provider PSI Group at an enterprise value of $200 million, or 1.5x its 2021 revenue.
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Among the de-SPACs buffeted by the month’s tip into positive economic sentiment was one of the companies that helped boost the enthusiasm of the last SPAC cycle in the first place in MP Materials (NYSE:MP).
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BurTech Acquisition Corp. (NASDAQ:BRKH) has entered into a definitive agreement to combine with AI-enabled edge computing firm Blaize at an enterprise value of $894 million.
El Dorado Hills, California-based Blaize makes smart-vision hardware for the automotive, retail and software industries.
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AlphaTime is the only SPAC with a vote scheduled for the day after Christmas, that being an extension vote, and the final week of the year is currently looking lighter in expected actions.
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Screaming Eagle (NASDAQ:SCRM) has entered in to a definitive agreement to combine with Lionsgate Studios at an enterprise value of $4.6 billion.
Lionsgate Studios will be made up of the TV studio and film production portions of its parent Lionsgate Entertainment (NYSE:LGF.A,
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Chavant Capital (NASDAQ:CLAY) has closed its combination with semiconductor maker Mobix Labs and the combined company’s shares and warrants are expected to begin trading on the Nasdaq under the symbols “MOBX” and “MOBXW” later today.
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Many companies may be packing it in for the year today as it is the last trading day before Christmas, but SPACs still have plenty left on their docket.
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Prospector (NASDAQ:PRSR) closed its combination with autonomous driving firm LeddarTech and the combined company’s shares and warrants are expected to begin trading on the Nasdaq under the symbols “LDTC” and “LDTCW” at the opening bell December 22.
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December has been a good month for de-SPAC exits.
Two weeks ago today, AbbVie (NYSE:ABBV) agreed to acquire neuroscience drug developer Cerevel Therapeutics (NASDAQ:CERE) for $45 per share three years after its combination with ARYA II, making it one of the most lucrative de-SPAC exits of all time.
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EG Acquisition Corp. (NYSE:EGGF) shareholders approved its combination with private aviation firm flyExclusive, but the SPAC has delayed its scheduled takeoff into the public markets.
The SPAC had previously expected the transaction to close today, but it is still on the tarmac as its application to list on the NYSE American is still under review and it is waiting for all closing conditions to be waived or satisfied.
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“Go north, young man” could be the new refrain for EV companies looking to growth as Canada this week passed a law requiring all new vehicles to be emissions-free by 2035.
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Like many de-SPACs working their way through commercialization, ProSomnus (NASDAQ:OSA) has spent the first year of its public company life dealing with the turnover of shareholders coming out of the de-SPAC process and waiting for a patch of good news to generate some upward momentum.
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Banyan (NYSE:BYN) has signed a non-binding term sheet for $50 million in convertible notes on a five-year term for its combination with hospitality venture Pinstripes.
These are to be issued no later than December 29 and the parties expect the business combination will close by then.
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