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Author: Nicholas Alan Clayton

Petra Acquisition, Inc. (PAIC) Adds $12M to Revelation Biosciences Deal

Dec 22, 2021 INTEL by Nicholas Alan Clayton

Petra (NASDAQ:PAIC) announced that it had added forward purchase agreements and a convertible note that will add up to $12 million to its combination with biotech firm Revelation. Of this amount, $4.5 million is to be used to backstop potential redemptions with financing from AXA Prime Impact Master Fund, LifeSci Venture Partners as well as
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Global SPAC Partners Co. (GLSPT) to Combine with Gorilla Technology in $708M Deal

Dec 22, 2021 INTEL by Nicholas Alan Clayton
Global SPAC (NASDAQ:GLSPT) has entered into a definitive agreement to combine with edge computing firm Gorilla at an enterprise value of $708 million. Taipei, Taiwan-based Gorilla provides AI-enabled hardware and software for traffic management and security monitoring. The combined company is expected to trade on the Nasdaq under the symbol “GRRR” once the deal is
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Zanite Acquisition Corp. (ZNTE) to Combine with Eve in $2.4Bn Deal

Dec 21, 2021 INTEL by Nicholas Alan Clayton
Zanite (NASDAQ:ZNTE) has entered into a definitive agreement to combine with urban air mobility firm Eve at an enterprise value of $2.37 billion, or 8.5x 2028E EBITDA. Florida-based Eve is the electric vertical takeoff and landing (eVTOL) subsidiary of Brazilian aviation manufacturer Embraer (NYSE:ERJ) aiming to commercialize its designs as air taxis and other mobility
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Globis Acquisition Corp. (GLAQ) to Combine with Forafric in $300M Deal

Dec 20, 2021 INTEL by Nicholas Alan Clayton
Globis (NASDAQ:GLAQ) has entered into a definitive agreement to combine with African agribusiness Forafric at an equity value of $300 million. Casablanca-based Forafric produces flour and semolina as well as secondary processing products such as pasta and couscous out of plants in North and Sub-Saharan Africa. The combined company is expected to change its jurisdiction
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L&F Acquisition Corp. (LNFA) to Combine with ZeroFox in $1.3Bn Deal

Dec 20, 2021 INTEL by Nicholas Alan Clayton
L&F (NYSE:LNFA) has entered into a definitive agreement to combine with cybersecurity firm ZeroFox at an enterprise value of $1.3 billion, or 6.7x 2023E revenue. Baltimore, Maryland-based ZeroFox provides external threat intelligence and protection to businesses, brands and people and the company will acquire peer IDX as a part of this transaction, which specializes in
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CleanTech Acquisition Corp. (CLAQ) to Combine with Nauticus Robotics in $377M Deal

Dec 17, 2021 INTEL by Nicholas Alan Clayton
CleanTech (NASDAQ:CLAQ) has entered into a definitive agreement to combine with subsea robot company Nauticus at an enterprise value of $377 million, or 4x its 2023E revenue. The Houston, Texas-based company provides undersea robotics platforms for maintenance, security and other tasks. The combined company is expected to trade on the Nasdaq under the symbol “KITT”
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Founder SPAC (FOUN) to Combine with Rubicon Technologies in $2Bn Deal

Dec 16, 2021 INTEL by Nicholas Alan Clayton
Founder SPAC (NASDAQ:FOUN) has entered into a definitive agreement to combine with digital waste pickup marketplace Rubicon at an enterprise value of $1.7 billion, or 9.4x its 2023E net revenue. Lexington, Kentucky-based Rubicon connects businesses and local governments to independent waste haulers through a cloud-based platform that gives them hard data on their recycling impacts.
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InterPrivate III Financial Partners (IPVF) Details Revised Terms for Aspiration Deal

Dec 16, 2021 INTEL by Nicholas Alan Clayton
InterPrivate III (NYSE:IPVF) filed an 8-K this morning detailing changes to its combination with fintech firm Aspiration in addition to the new funding announced yesterday. For one, $250 million of the $315 million in additional funding – its Series X Preferred Stock – came at $9 per share and InterPrivate III does have a crescent
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InterPrivate III Financial Partners (IPVF) Secures $315M in New Capital for Aspiration

Dec 15, 2021 INTEL by Nicholas Alan Clayton
InterPrivate III (NYSE:IPVF) announced that it has arranged $315 million in new financing for its combination with sustainability-focused fintech firm Aspiration. The new money includes $250 million in proceeds from the issuance of non-convertible perpetual preferred stock, paying an 8% dividend and redeemable by investors after 9 years. The package also includes a $50 million
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Trump Media and Rumble Team Up, Moving CF VI (CFVI) & Digital World (DWAC) Prices

Dec 15, 2021 IPOs by Nicholas Alan Clayton

Digital World (NASDAQ:DWAC) target Trump Media & Technology Group has announced a cloud services partnership with digital media platform Rumble, which itself has a pending deal with CF VI (NASDAQ:CFVI).

As has been the trend with both deals, little concrete information was released on this new arrangement, but it nonetheless has translated into high-volume buying for both stocks.

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Matterport (MTTR) Announces Redemption of Public Warrants

Dec 15, 2021 INTEL by Nicholas Alan Clayton

Matterport (NASDAQ:MTTR) announced this morning that it will redeem all outstanding warrants and warrantholders have until 5 pm ET, January 14, 2022 to exercise them.

The company, which completed its combination with Gores VI in July, has been a relative bright spot among de-SPACs in the current market, hitting a high of $33.48 on November 29 and generally trading above $20 since Halloween.

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Spring Valley (SV) to Combine with NuScale Power in $1.9Bn Deal

Dec 14, 2021 INTEL by Nicholas Alan Clayton
Spring Valley (NASDAQ:SV) has entered into a definitive agreement to combine with nuclear power provider NuScale Power at an enterprise value of $1.86 billion, or 1.8x its 2025E revenue. Portland, Oregon-based NuScale has designed and is working to deploy a uniquely flexible nuclear power plant design with its first project scheduled for installation in Utah.
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CITIC Capital (CCAC) Adds New Financing to Quanergy Deal

Dec 14, 2021 INTEL by Nicholas Alan Clayton
CITIC Capital (NYSE:CCAC) announced this morning that it has agreed to additional financing that could bring as much as $125 million in new money to its combination partner Quanergy following the deal’s close. The SPAC signed a share subscription facility with Global Emerging Markets Group (GEM), which works similarly to a delayed-action PIPE. GEM will
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Global Consumer Acquisition Corp. (GACQ) to Combine with GP Global and Luminex

Dec 13, 2021 INTEL by Nicholas Alan Clayton
Global Consumer (NASDAQ:GACQ) has entered into a definitive agreement to combine with air care companies GP Global and Luminex at a combined enterprise value of $507.1 million, or 6.9x its 2023E EBITDA. The two companies are expected to consolidate their brands Candle-Lite, Manly Indulgence, Colonial Candle, and PartyLite under a new brand umbrella called Ascense.
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Aries I (RAM) to Combine with InfiniteWorld in $554M Deal

Dec 13, 2021 INTEL by Nicholas Alan Clayton
Aries I (NASDAQ:RAM) has entered into a definitive agreement to combine with metaverse infrastructure platform InfiniteWorld at an enterprise value of $554 million, or 7.8x its 2023E revenue. Miami-based InfiniteWorld is developing both a marketplace for creators to sell NFTs, but also creative tools to generate new ones tailored to both individuals and brands. The
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SVF Investment Corp. 3 (SVFC) to Combine with Symbotic in $4.8Bn Deal

Dec 13, 2021 INTEL by Nicholas Alan Clayton
SVF 3 (NASDAQ:SVFC) has entered into a definitive agreement to combine with AI supply chain technology firm Symbotic at an enterprise value of $4.75 billion, or 4.8x its 2023E revenue. Wilmington, Massachusetts-based Symbotic provides technology to either retrofit or build greenfield automated warehouses for the supermarket and retail supply chain. The combined company is expected
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CC Neuberger II (PRPB) to Combine with Getty Images in $4.8Bn Deal

Dec 10, 2021 INTEL by Nicholas Alan Clayton
CC Neuberger II (NYSE:PRPB) has entered into a definitive agreement to combine with visual content marketplace Getty at an enterprise value of $4.8 billion, or 15.2x 2022E adjusted EBITDA. Seattle-based Getty serves about 1 million customers, licensing to them visual content from about 450,000 contributors covering about 160,000 news, sport and entertainment events annually. The
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