Biotech Acquisition Company (BIOT) to Combine with Blade Therapeutics

Nov 8, 2021 INTEL by Nicholas Alan Clayton

Biotech (NASDAQ:BIOT) has entered into a definitive agreement to combine with drug developer Blade Therapeutics at an enterprise value of $352.8 million. San Francisco-based Blade Therapeutics is developing three drug candidates as potential therapies against varying forms of organ fibrosis with its most advanced having completed Phase I. The combined company is expected to trade
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Duddell Street Acquisition Corp. (DSAC) to Combine with FiscalNote

Nov 8, 2021 INTEL by Nicholas Alan Clayton

Duddell Street (NASDAQ:DSAC) has entered into a definitive agreement to combine with legal and regulatory data provider FiscalNote at an enterprise value of $1.18 billion, or 6.8x its 2022E sales. Washington, DC-based FiscalNote uses AI tools to crunch legislative, regulatory and geopolitical data to provide insights and analysis The combined company is expected to trade
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Leo Holdings III Corp (LIII) Adds $25M to Local Bounti PIPE

Nov 5, 2021 INTEL by Nicholas Alan Clayton

Leo III (NYSE:LIII) announced this morning that it has added $25 million to the PIPE for its deal with indoor farming venture Local Bounti, further securing it from redemption risks. This additional funding brings the total PIPE to $150 million, matching the transaction’s $150 million minimum cash closing condition. The news comes as Leo III
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Quantum Fintech (QFTA) Adds $10M PIPE to TradeStation Deal

Nov 5, 2021 INTEL by Nicholas Alan Clayton

Quantum Fintech (NYSE:QFTA) announced this morning that it has brought in an additional $10 million investment into the PIPE for its combination with fintech firm TradeStation unveiled yesterday. The additional funds bring the total PIPE proceeds to $125 million in addition to the $201 million from the SPAC’s trust pre-redemptions. Quantum Fintech has yet to
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AGBA Acquisition Limited (AGBA) to Combine with TAG Companies in $555M Deal

Nov 5, 2021 INTEL by Nicholas Alan Clayton

AGBA (NASDAQ:AGBA) has entered into a definitive agreement to combine with five subsidiaries of financial holding company TAG, with the combined entity holding a base enterprise value of $555 million. The divisions in question are TAG International, a B2B services company, and its own subdivisions TAG Asset Partners, OnePlatform International, OnePlatform Holdings, and TAG Asia
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Top 3 SPAC Targets – VR/AR in the Metaverse

Nov 5, 2021 INTEL by Nicholas Alan Clayton

SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among companies making products for the coming augmented and virtual reality worlds. We look at why they are compelling and why each could be a fit for a blank-check merger.

Quantum FinTech Acquisition Corporation (QFTA) to Combine with TradeStation

Nov 4, 2021 INTEL by Nicholas Alan Clayton

Quantum FinTech (NYSE:QFTA) entered into an agreement to combine with fintech firm TradeStation for an enterprise value of $1.34 billion, or 6.5x its 2021E revenue. TradeStation, which is a subsidiary of Japanese financial services fim Monex Group (TYO:8698), provides a stock-trading and investment platform allowing retail investors to access options, crypto and futures products. The
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SilverBox Engaged Merger Corp I (SBEA) to Combine with Black Rifle Coffee Company

Nov 2, 2021 INTEL by Nicholas Alan Clayton

SilverBox Engaged I (NASDAQ:SBEA) has entered into a definitive agreement to combine with Black Rifle Coffee at an enterprise value of $1.7 billion, or 7.4x its 2021E revenue. Salt Lake City, Utah-based Black Rifle sells coffee and coffee products targeted at the active military and veteran community online while working to expand in brick-and-mortar segments.
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Vision Sensing Acquisition Corp. (VSACU) Prices $88M IPO

Nov 1, 2021 IPOs by Nicholas Alan Clayton

Vision Sensing Acquisition Corp. announced the pricing of its $88 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VSACU” Monday, November 1.

The new SPAC intends to search for a merger target among hardware chip firms, vision sensing software developers and those with AI tools.

Tailwind Two (TWNT) Reveals Key Financing Details for Terran Orbital Deal

Oct 29, 2021 INTEL by Nicholas Alan Clayton

Tailwind Two (NYSE:TWNT), which announced a $1.57 billion business combination with satellite-maker Terran Orbital yesterday evening, filed an 8-K this morning showing financing details of the deal that are softer than face value and may have dilutive effects down the road. First, the $50.8 million PIPE agreement includes $30 million from an existing Terran Orbital
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Top 3 SPAC Targets – Esports

Oct 29, 2021 INTEL by Nicholas Alan Clayton

SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among esports companies and the sector’s adjacencies. We look at why they are compelling and why each could be a fit for a blank-check merger.

Gores Metropoulos II (GMII) Re-Strikes Deal with Sonder

Oct 28, 2021 INTEL by Nicholas Alan Clayton

Gores Metropoulos II (NASDAQ:GMII) announced this morning it has revised its deal with accommodation-booker Sonder and increased funding for the transaction. The revision drops Sonder’s envisaged enterprise value 12.5% from $2.2 billion to $1.925 billion, but for Sonder this is softened by $110 million in new funding into the PIPE from Gores II affiliates and
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Decarbonization Plus III (DCRC) Adds $30M to Solid Power PIPE

Oct 28, 2021 INTEL by Nicholas Alan Clayton

Decarbonization Plus III (NASDAQ:DCRC) has boosted the PIPE for its combination with battery-maker Solid Power, adding $30 million in new funding. The new funding comes from Korean petroleum refiner SK Innovation (KRX:096770) and brings the deals total PIPE proceeds to $195 million. This brings Decarbonization Plus III closer to securing its $300 million minimum cash
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Broadstone Acquisition Corporation (BSN) Adds $205M to Vertical Deal

Oct 27, 2021 INTEL by Nicholas Alan Clayton

Broadstone (NYSE:BSN) announced this morning that it has lined up $205 million in additional funding for its combination with electric airplane-maker Vertical Aerospace (“Vertical”). This new cash will come in the form of $200 million in convertible senior secured notes bought by Mudrick Capital and a $5 million investment from Kouros into the PIPE. This
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B. Riley Principal 150 Merger Corp. (BRPM) to Combine with FaZe Clan

Oct 25, 2021 INTEL by Nicholas Alan Clayton

B. Riley Principal 150 (NASDAQ:BRPM) has entered into a definitive agreement to combine with digital content platform FaZe Clan at an enterprise value of $713 million, or 14.2x its 2021E revenue. Los Angeles-based FaZe Clan runs a network of influencer talent and e-sports competitors that have amassed 120 million YouTube subscribers and $50 million in
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Top 3 SPAC Targets – EV Battery Recycling

Oct 22, 2021 INTEL by Nicholas Alan Clayton

SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among EV battery recyclers. We look at why they are compelling and why each could be a fit for a blank-check merger.

Greenrose Acquisition Corp (GNRS) Adds Backstop

Oct 21, 2021 INTEL by Nicholas Alan Clayton

Greenrose Acquisition Corp. (NASDAQ:GNRS) announced in an 8-K this morning that it has entered to a pair of agreements to secure the closing process of its combination with four cannabis ventures. YA II PN, an affiliate of Yorkville Advisors Global, has agreed to buy 1,000,000 Greenrose shares on the open market for up to $10.14
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Digital World Acquisition Corp. (DWAC) to Combine with Trump Media & Technology Group

Oct 21, 2021 INTEL by Nicholas Alan Clayton

Digital World (NASDAQ:DWAC) has entered into a definitive agreement to combine with Trump Media and Technology Group (TMTG) at an enterprise value of $875 million. TMTG is working to launch a Trump-centric social media platform in the first quarter of 2022, to be followed by a subscription video on demand service. Transaction Overview Digital World
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GS Acquisition Holdings II (GSAH) Convinces 5M Shares to Un-Redeem

Oct 20, 2021 INTEL by Nicholas Alan Clayton

GS Acquisition Holdings II (NYSE:GSAH) announced this morning that about 5 million shares that had previously been tendered for redemption in connection with the close of its merger with Mirion Technologies would now stay in the transaction.

ION Acquisition Corp. 2 Ltd. (IACB) Upsizes PIPE for Innovid Deal

Oct 20, 2021 INTEL by Nicholas Alan Clayton

ION 2 (NYSE:IACB) announced this morning it has secured an additional $50 million in funding for a total PIPE size of $200 million to finance its combination with smart TV tech firm Innovid. It has become increasingly popular in recent weeks for SPACs to de-risk their completion votes by backstopping shares and expanding PIPEs to
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Author: Nicholas Alan Clayton