Prime Impact Acquisition I (NYSE:PIAI) announced that it has completed its combination with Chinese auto insurer Cheche Technology and the combined company’s shares and warrants will begin trading on the Nasdaq later today under the symbols “CCG” and “CCGWW”.
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FTAC Emerald Acquisition Corp. (NASDAQ: EMLD) announced this morning that it plans to push its extension vote scheduled for this afternoon to 4:30 pm ET tomorrow, September 19.
As the SPAC continues to engage with shareholders, they are to consider its proposal to extend the SPAC’s transaction deadline to January 19, 2024 without the sponsor making an additional contribution to the trust.
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Athena Consumer Acquisition Corp. (NYSE: ACAQ) announced that it intends to adjourn its September 21 special meeting to approve its combination with German EV-maker e.GO without conducting business and will reconvene it at 1:30 pm ET September 28.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Three space companies that went public two years ago are seeking ways to build credibility with large institutional investors that have started dipping toes into the deflated market.
GigCapital5 (NYSE:GIA) announced in an 8-K filing this morning that it has rejected a request by its combination target QT Imaging to terminate the deal, claiming that although the deal’s September 8 outside date is passed, breaches on QT Imaging’s part caused delays.
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Graf Acquisition Corp. IV (NYSE:GFOR) announced that it adjourned yesterday’s completion vote for its combination with NKGen Biotech without conducting any business and will reopen proceedings at 10 am ET September 20.
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Ares Acquisition Corporation (NYSE:AAC) announced in an 8-K this morning that it has added up to $60 million in new commitments to its combination with nuclear technology firm X-Energy while further dropping the target’s valuation.
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Inception Growth Acquisition Corp. (NYSE:IGTA) has entered into a definitive agreement to combine with AI firm AgileAlgo at a pre-money equity value of $160 million.
Singapore-based AgileAlgo provides AI tools to enterprise clients to optimize business process and teach their systems to continually improve themselves.
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The Growth for Good Acquisition Corporation (NASDAQ:GFGD) announced this afternoon that it will terminate its combination with EV technology company ZeroNox and will immediately begin the process of liquidating its trust.
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M3-Brigade III (NYSE:MBSC) announced in an 8-K this morning that its shareholders have approved its combination with Canadian energy producer Greenfire while warrant holders approved a proposal to buy back all outstanding warrants.
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Graf Acquisition Corp. IV (NYSE:GFOR) announced this morning that it adjourned its Friday vote to complete its business combination with NKGen Biotech and will reconvene it at 4 pm September 13.
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Prime Impact I (NYSE:PIAI) announced this morning that investors have subscribed to a PIPE in its combination with digital insurance firm Cheche buying 1,300,000 for $10 per share.
The investors were not named, but the PIPE would cover the deal’s $5 million minimum cash condition as it heads into its approval vote.
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Pono Capital Two (NASDAQ:PTWO) announced in an 8-K this morning that it has dropped its valuation in its combination with SBC Medical Group to $1 billion from $1.2 billion.
The wording of the filing does not provide a clear causality for the change, but both versions provided for up to $3 million in equity compensation being removed based on the company’s net working capital at close.
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DHC (NASDAQ:DHCA) has entered into a definitive agreement to combine with marketing firm BEN at a pro forma enterprise value of $358 million.
Jackson, Wyoming-based BEN has developed AI-enhanced customer engagement services for enterprise clients in the automotive, healthcare and financial services sectors.
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Energem Corp. (NASDAQ:ENCP) announced in an 8-K this morning that it has shortened the lock-up for the SPAC’s sponsor while extending it for other parties in the Graphjet combination.
Energem’s sponsor originally was to be locked for one year following close with an early release available only if the combined company traded at or above $12 for 20 of 30 trading days at least 150 days out from close, while company shareholders were all beholden to a six-month lock-up.
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Rosecliff Acquisition Corp. I (NASDAQ:RCLF) announced in an 8-K this morning that its shareholders approved its combination with medtech firm Spectral MD (AIM:SMD) at a special meeting yesterday.
Although all proposals on the ballot were approved by wide margins, an additional 211,136 shares were redeemed in connection with the vote, reducing Rosecliff I’s trust to about $2.6 million with 247,580 public shares outstanding.
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Andretti Acquisition Corp. (NYSE:WNNR) has entered into a definitive agreement to combine with generative AI company Zapata at an enterprise value of $283 million.
Boston-based Zapata has developed technology to use quantum computing and numerical data to generate text and data for industrial applications.
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First Light Acquisition Group, Inc. (NYSE:FLAG) announced in an 8-K this morning that it has brought additional funding to its combination with Calidi Therapeutics through a non-redemption agreement, forward purchase agreement (FPA) and PIPE.
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