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Author: Nicholas Alan Clayton

Ace Global Business Acquisition Limited (ACBA) to Combine with DDC Enterprise Limited in $300M Deal

Aug 25, 2021 INTEL by Nicholas Alan Clayton

Ace Global (NASDAQ:ACBA) has entered into a definitive share exchange agreement with DDC at an enterprise value of $300 million. Hong Kong-based DDC runs digital cooking content platform DayDayCook and recently launched its own line of prepared meals. The combined company is expected to trade on the Nasdaq once the deal is completed but the
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NextGen Acquisition Corp. II (NGCA) to Combine with Virgin Orbit in $3.2Bn Deal

Aug 23, 2021 INTEL by Nicholas Alan Clayton
NextGen II (NASDAQ:NGCA) has entered into a definitive agreement to combine with space venture Virgin Orbit at an enterprise value of $3.2 billion, or 2.1x its 2025E revenue Virgin Orbit delivers satellites to orbit from an airplane-based system with launch sites selected in the UK and Brazil with additional locations slated for Japan and the
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CA Healthcare (CAHC) Revises LumiraDx Deal

Aug 20, 2021 INTEL by Nicholas Alan Clayton
CA Healthcare Acquisition Corp. (NASDAQ:CAHC) announced this morning that it is revising its merger with medical device-maker LumiraDx downwards from an enterprise valuation of $5 billion to $3 billion. CA Healthcare said in its press release that this 40% slash in value came due to “the recent market environment for publicly traded diagnostic companies, general
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InterPrivate III Financial Partners (IPVF) to Combine with Aspiration in $1.9Bn Deal

Aug 18, 2021 INTEL by Nicholas Alan Clayton
InterPrivate III (NYSE:IPVF) has entered into a definitive agreement to combine with ESG-focused financial services firm Aspiration at an enterprise value of $1.9 billion, or 7.7x its 2022E revenue. Marina del Rey, California-based Aspiration provides a fintech platform allowing consumer and business customers to make and track sustainability impacts with their payments activity. The combined
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Aldel Financial (ADF) to Combine with Hagerty in $3Bn Deal

Aug 18, 2021 INTEL by Nicholas Alan Clayton
Aldel Financial (NYSE:ADF) has entered into a definitive agreement to combine with car insurer Hagerty at an enterprise value of $3.13 billion, or 2.8x its 2023E revenue. Traverse City, Michigan-based Hagerty provides insurance products for collectible cars and media properties focused on car enthusiasts. The combined company is expected to trade on the NYSE under
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M3-Brigade Acquisition II Corp. (MBAC) to Combine with Syniverse in $2.8Bn Deal

Aug 17, 2021 INTEL by Nicholas Alan Clayton
M3-Brigade II (NYSE:MBAC) has entered into a definitive agreement to combine with telecom tech company Syniverse at an enterprise value of $2.85 billion, or 12.1x its 2022E EBITDA. Tampa, Florida-based Syniverse provides telecom device connectivity and services to both phone carriers and enterprise clients seeking to set up internal networks. The combined company is expected
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Silver Crest Acquisition Corp. (SLCR) to Combine with Tim Hortons China in $1.79Bn Deal

Aug 16, 2021 INTEL by Nicholas Alan Clayton
Silver Crest (NASDAQ:SLCR) has entered into a definitive agreement to combine with Tim Hortons China at an enterprise value of $1.79 billion or 3.9x its 2023E revenue. Tims China is the subsidiary of Canadian convenience store brand Tim Horton’s (NYSE:THI), selling coffee and confectionary goods through about 388 stores. The combined company is expected to
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MedTech Acquisition Corporation (MTAC) to Combine with Memic innovative Surgery

Aug 13, 2021 INTEL by Nicholas Alan Clayton
MedTech (NASDAQ:MTAC) has entered into a definitive agreement to combine with medical device-maker Memic at an enterprise value of $655 million, or 7.9x its 2024E revenue. Tel Aviv-based Memic is developing robotic surgical devices to be used in gynecological operations with a rollout initially planned for the US market this year. The combined company is
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Spotlight: How SPACs Can Immunize the World

Aug 13, 2021 INTEL by Nicholas Alan Clayton

Welcome to SPACInsider’s Spotlight series! With this, we will seek to illuminate a particular trend in SPACs that deserves a greater focus. This week, we will be looking at the ways that SPACs can play a part in propelling the ongoing vaccine rollout and boost developments in immunology, with research compiled by SPACInsider contributors Anthony Sozzi and Sam Beattie.

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IPO-Pricing

First Reserve Sustainable Growth Corp. (FRSG) to Combine with EO Charging in $675M Deal

Aug 12, 2021 INTEL by Nicholas Alan Clayton
First Reserve (NASDAQ:FRSG) has entered into a definitive agreement to combine with EV-charging service EO at an enterprise value of $675 million, or 3.1x its 2023E revenue. The Stowmarket, UK-based firm sells turnkey charging solutions for electrified commercial fleets and consumers. The combined company is expected to trade on the Nasdaq under the symbol “EOC”
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European Sustainable Growth (EUSG) to Combine with ADS-TEC in $580M Deal

Aug 11, 2021 INTEL by Nicholas Alan Clayton
European Sustainable Growth (NASDAQ:EUSG) has entered into a definitive agreement to combine with EV battery-maker ADS-TEC at an equity value of $580 million. Stuttgart, Germany-based ADS-TEC provides charging stations for electric vehicles and energy storage solutions for both commercial and residential customers. The combined entity is expected to trade on the Nasdaq once the deal
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IPO-Pricing

Environmental Impact Acquisition Corp. (ENVI) to Combine with GreenLight Biosciences in $1.2Bn Deal

Aug 10, 2021 INTEL by Nicholas Alan Clayton
Environmental Impact (NASDAQ:ENVI) has entered into a definitive agreement to combine with biotech firm GreenLight at an enterprise value of $1.2 billion, or 6.6x its 2023E revenue. Medford, Massachusetts-based GreenLight is developing a biomanufacturing platform for commercializing ribonucleic acid (RNA) products for both agricultural and human health applications. The combined company is expected to trade
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Astrea Acquisition Corp. (ASAX) to Combine with HotelPlanner and Reservations.com in $567M Deal

Aug 10, 2021 INTEL by Nicholas Alan Clayton
Astrea (NASDAQ:ASAX) has entered into a definitive agreement to combine with travel booking websites HotelPlanner and Reservations.com at an enterprise value of $567.1 million, or 4.4x the group’s 2021E revenue. The combined company will keep the HotelPlanner name following the deal’s close in the fourth quarter of 2021 and is set to trade on the
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Merida Merger Corp I (MCMJ) to Combine with Leafly in $385M Deal

Aug 9, 2021 INTEL by Nicholas Alan Clayton
Merida Merger Corp I (NASDAQ:MCMJ) has entered into a definitive agreement to combine with cannabis enterprise Leafly at an enterprise value of $385 million, or 8.9x its 2021E revenue. Seattle-based Leafly provides a marketplace of cannabis product sellers with reviews, articles and a database of strains available to legal consumers. The combined company is expected
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DraftKings (DKNG) to Acquire Golden Nugget Online Gaming (GNOG) in All-Stock Deal

Aug 9, 2021 INTEL by Nicholas Alan Clayton
DraftKings (NASDAQ:DKNG) has entered into a definitive agreement to acquire Golden Nugget Online Gaming (NASDAQ:GNOG) in the rare tie-up of two recent de-SPACs, both of which completed their combinations in 2020. The deal gives Golden Nugget, which only de-SPAC’d eight months ago, an implied equity value of $1.56 billion, a premium of about 63% over
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news update

Model Performance Acquisition Corp. (MPAC) to Combine with MultiMetaVerse in $300M Deal

Aug 9, 2021 INTEL by Nicholas Alan Clayton
Model Performance (NASDAQ:MPAC) has entered into a definitive agreement to combine with MultiMetaVerse at a total equity value of $300 million. Transaction Overview Model Performance raised $57.5 million in its April 2021 IPO and is set to finance the deal as a $300 million stock transaction at $10 per share. Its trust has been supplemented
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CM Life Sciences III (CMLTU) to Combine with EQRx in $3.5Bn Deal

Aug 6, 2021 INTEL by Nicholas Alan Clayton
CMLS III (NASDAQ:CMLTU) has entered into a definitive agreement to combine with biotech firm EQRx at an enterprise value of $3.54 billion. Cambridge, Massachusetts-based EQRx is developing a range of drug candidates both generated in-house and licensed from peers with an aim to reducing the overall cost of pharmaceutical rollouts. The combined company is expected
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