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Author: Nicholas Alan Clayton

Hennessy Capital Investment V (HCIC) Revising Plus Deal

Sep 27, 2021 INTEL by Nicholas Alan Clayton

Hennessy V (NASDAQ:HCIC) announced this morning that it is revising its merger with self-driving truck technology firm Plus and likely will miss its initially envisioned outside date of November 8. The filing did not include any additional details about the nature of the restructuring other than it comes “In light of recent developments in the
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Gores Guggenheim, Inc. (GGPI) to Combine with Polestar in $20Bn Deal

Sep 27, 2021 INTEL by Nicholas Alan Clayton
Gores Guggenheim (NASDAQ:GGPI) has entered into a definitive agreement to combine with Swedish electric vehicle-maker (EV) Polestar at an enterprise value of $20 billion, or 3x its 2023E revenue. Founded in 2017, the Gothenburg, Sweden-based company produces two consumer EV models that are on the road in Europe, North America and China. The combined company
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Spring Valley (SV) to Extend Closing Talks on AeroFarms Deal

Sep 24, 2021 INTEL by Nicholas Alan Clayton
Spring Valley Acquisition Corp. (NASDAQ:SV) announced it is extending its closing negotiations with vertical farming venture AeroFarms to a new deadline of October 24. The SPAC’s shareholders approved the transaction on August 30, but Spring Valley noted at the time of the vote that it faced enough redemptions to leave its minimum cash condition unfulfilled.
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G Squared Ascend I (GSQD) to Combine with Transfix in $1.1Bn Deal

Sep 21, 2021 INTEL by Nicholas Alan Clayton
G Squared Ascend I (NYSE:GSQD) has entered into a definitive agreement to combine with digital freight platform Transfix at an enterprise value of $1.054 billion, or 3.8x its 2021E revenue. New York City-based Transfix provides a B2B platform helping freight shippers and carriers more efficiently manage, price and track their loads. The combined company is
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Cartesian Growth Corporation (GLBL) to Combine with Alvarium Tiedemann Holdings in $1Bn Deal

Sep 20, 2021 INTEL by Nicholas Alan Clayton
Cartesian (NASDAQ:GLBL) has entered into a definitive business combination with wealth management firms Tiedemann Group and Alvarium Investments at an enterprise value of $1.087 billion, or 10.9x the combined entity’s 2022E EBITDA. The two firms serve as alternative asset managers to clients on four continents and are expected to have about $60 billion in assets
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TOP-3

Poema Global Holdings Corp. (PPGH) to Combine with Gogoro in $2.3Bn Deal

Sep 16, 2021 INTEL by Nicholas Alan Clayton
Poema Global (NASDAQ:PPGH) has entered into a definitive agreement to combine with electric vehicle (EV) battery re-charger Gogoro at an enterprise value of $2.35 billion, or 2.5x its 2023E revenue. Taipei-based Gogoro provides branded e-scooters and battery-swapping kiosks for a range of two-wheeled electric vehicles in Taiwan and China. The combined company is expected to
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EJF Acquisition Corp. (EJFA) to Combine with Pagaya in $8.5Bn Deal

Sep 15, 2021 INTEL by Nicholas Alan Clayton
EJF (NASDAQ:EJFA) has entered into a definitive agreement to combine with fintech Pagaya at an enterprise value of $8.5 billion, or 12.5x its 2022E revenue. Tel Aviv-based Pagaya provides an AI-powered platform matching customers with third-party credit products both applying for loans and at the point-of-sale (POS). The combined company is expected to trade on
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Giga Energy Terminates Deal with Yunhong International (ZGYH)

Sep 15, 2021 INTEL by Nicholas Alan Clayton
Yunhong International (NASDAQ:ZGYH) announced last night that Giga Energy had terminated the pair’s business combination, marking the second termination of the month. The deal was already a bit of an enigma as the parties released little information on the transaction upon its announcement on May 17. Yunhong  stated that Giga Energy had the right to
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Motive Capital Corp (MOTV) to Combine with Forge Global in $1.6Bn Deal

Sep 13, 2021 INTEL by Nicholas Alan Clayton
Motive Capital (NYSE:MOTV) has entered into a definitive agreement to combine with investment marketplace Forge Global at an enterprise value of $1.6 billion, or 10.6x its 2022E revenue. San Francisco-based Forge provides a platform for users to invest in private companies via tender offers or regular cash-outs by employees and shareholders. The combined company is
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Golden Path Acquisition Corporation (GPCO) to Combine with MC Hologram in $450M Deal

Sep 10, 2021 INTEL by Nicholas Alan Clayton
Golden Path (NASDAQ:GPCO) has entered into a definitive agreement to merge with MC Hologram at a total equity value of $450 million. The combined company is expected to trade under the name MicroCloud Hologram Inc. once the deal is completed in the first quarter of 2022, but the parties have not yet announced a proposed
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Highland Transcend Partners I Corp. (HTPA) to Combine with Packable in $1.55Bn Deal

Sep 9, 2021 INTEL by Nicholas Alan Clayton
Highland Transcend I (NYSE:HTPA) has entered into a definitive agreement to combine with ecommerce service provider Packable at an enterprise value of $1.55 billion, or 2.2x its 2022E revenue. Hauppauge, New York-based Packable operates the ecommerce platform Pharmapacks and serves consumer brands in managing their own ecommerce optimization and fulfillment in other marketplaces. The combined
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Novus Capital Corporation II (NXU) to Combine with Energy Vault in $1.1Bn Deal

Sep 9, 2021 INTEL by Nicholas Alan Clayton
Novus Capital II (NYSE:NXU) has entered into a definitive agreement to combine with kinetic energy storage company Energy Vault at an enterprise value of $1.13 billion, or 2.1x its 2023E revenue. Westlake Village, California-based Energy Vault is developing a utility scale energy storage solution that uses gravity to release energy by de-stacking heavy slabs. The
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Malacca Straits Acquisition Company Limited (MLAC) Terminates Asia Vision Deal

Sep 7, 2021 INTEL by Nicholas Alan Clayton
Malacca Straits (NASDAQ:MLAC) announced this morning that it and Asia Vision Network have mutually terminated their business combination citing “unforeseen circumstances beyond the control of either party”. These unforeseen circumstances are likely the general down market for SPACs, which has made for a challenging environment to close combinations. Already two other SPACs – ACE Convergence
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TOP-3

Petra Acquisition, Inc. (PAIC) to Combine with Revelation Biosciences in $128M Deal

Aug 30, 2021 INTEL by Nicholas Alan Clayton
Petra (NASDAQ:PAIC) has entered into a definitive agreement to combine with biotech firm Revelation Biosciences at an enterprise value of $128 million. San Diego-based Revelation is developing two drug candidates aimed at treating respiratory diseases as well as a diagnostic device for diagnosing viral infections. The combined company is expected to trade on the Nasdaq
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Magnum Opus Acquisition Limited (OPA) to Combine with Forbes Global Media in $685M Deal

Aug 26, 2021 INTEL by Nicholas Alan Clayton
Magnum Opus (NYSE:OPA) has entered into a definitive agreement to combine with media group Forbes at an enterprise value of $685 million, or 2.9x its 2022E revenue. Jersey City, New Jersey-based Forbes operates a media group including wholly-owned and licensed publications and manages branded invents internationally. The combined company is expected trade on the NYSE
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