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Author: Kristi Marvin

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Dragoneer Growth Opportunities II (DGNS) Shareholders Approve Cvent Deal

Dec 7, 2021 INTEL by Kristi Marvin
Dragoneer Growth Opportunities Corp. II (Nasdaq:DGNS) announced this morning that its shareholders have approved its combination with event technology provider Cvent in a special meeting held earlier today. The closing of the business combination is expected to take place on December 8, 2021, at which time the common stock will begin trading on the Nasdaq
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InvestIndustrial (IIAC) Secures $125M Redemption Offset

Dec 6, 2021 INTEL by Kristi Marvin
InvestIndustrial Acquisition Corp. (NYSE:IIAC) announced this morning that they have secured an up to $125 million Redemption Offset Arrangement ahead of their scheduled shareholder vote to combine with Ermenegildo Zegna Holditalia SpA (“Zegna”) on Wednesday, December 15th. IIAC has an estimated $402.6 million held in trust and had previously announced a $250 million PIPE in
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Fertitta Entertainment (FEI) Wants to Terminate FAST deal (FST)

Dec 2, 2021 INTEL by Kristi Marvin
FAST says….not so fast! This morning, FAST Acquisition Corp (NYSE: FST) filed an 8-K revealing that Fertitta Entertainment, Inc. (“FEI”), gave notice they would be terminating their Merger Agreement. FAST, on the other hand, sent them a letter right back saying, nope, not happening. As background, The FAST/FEI deal has a condition to termination stating
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Apex Terminates Northern Star Investment Corp II (NSTB) Deal

Dec 1, 2021 INTEL by Kristi Marvin
Northern Star Investment Corp. II (NASDAQ:NSTB) announced this morning that it had been notified by Apex Fintech Solutions LLC (“Apex”), that they were terminating their business combination agreement.  This deal had a condition in their agreements where either side could terminate if the combination had not closed by November 30, 2021. Northern Star II initially
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TOMORROW: SPACs Go Global: Legal Insights and Market Trends

Nov 29, 2021 INTEL by Kristi Marvin

Don’t forget to register for tomorrow’s SPAC Webinar

SPACs Go Global: Legal Insights and Market Trends

Join us for a virtual panel on November 30, 2021

Participants will gain insight into the use of Special Purpose Acquisition Companies (SPACs) within Europe, Asia, and Latin America and the comparative opportunities and challenges of different regulatory frameworks in key jurisdictions.

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SPACs Go Global: Legal Insights and Market Trends

Nov 19, 2021 INTEL by Kristi Marvin

SPACs Go Global: Legal Insights and Market Trends

Join us for a virtual panel on November 30, 2021

Participants will gain insight into the use of Special Purpose Acquisition Companies (SPACs) within Europe, Asia, and Latin America and the comparative opportunities and challenges of different regulatory frameworks in key jurisdictions.

...READ MORE
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More SPAC Accounting Changes. This Time, Not Meaningful

Nov 15, 2021 INTEL by Kristi Marvin
Today it was reported that SPACs are yet again undergoing additional accounting scrutiny, but is this a mountain out of a molehill? Or something we need to pay attention to? Short answer: meh. It was reported with headlines stating that SPACs were “headed for additional accounting restatements due to errors“, but that’s not correct. If
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Khosla Ventures Acquisition Co. (KVSA) and Valo Health Mutually Terminate Deal

Nov 15, 2021 INTEL by Kristi Marvin
Khosla Ventures Acquisition Co. (NASDAQ:KVSA) and Valo Health, a technology company using human-centric data and artificial intelligence (AI) powered computation to transform the drug discovery and development process, announced this evening that they have opted to mutually terminate their business combination agreement. The parties cited the move was a result of “current market conditions, particularly
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Thimble Point (THMA) and Pear Therapeutics Arrange Backstop Funding

Nov 15, 2021 INTEL by Kristi Marvin
Thimble Point Acquisition Corp, Inc. (NASDAQ: THMA) and Pear Therapeutics, announced this morning that they have arranged an “up to $50 million” backstop funding ahead of their scheduled shareholder vote later this month. THMA previously disclosed a $125 million PIPE at combination announcement with a large roster of investors that includes 5AM Ventures, Arboretum Ventures,
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Virtuoso Acquisition Corp. (VOSO) and Wejo Secure Additional Financing

Nov 10, 2021 INTEL by Kristi Marvin
Virtuoso Acquisition Corp. (Nasdaq:VOSO) announced this morning that they have secured additional financing ahead of their scheduled shareholder vote to combine with Wejo on Tuesday, November 16th. VOSO previously announced a $100 million PIPE with investors including Microsoft (Nasdaq: MSFT), Palantir Technologies Inc. (NYSE:PLTR) and General Motors (NYSE:GM), in connection with their combination announcement on
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Velocity Acquisition Corp. (VELO) Terminates BBQGuys Deal

Nov 10, 2021 INTEL by Kristi Marvin
Velocity Acquisition Corp. (NASDAQ:VELO) announced this morning that it and BBQGuys, a specialty e-commerce platform for higher-end BBQ grills, grilling accessories and outdoor living projects, have mutually agreed to terminate their business combination. Th parties cited the move was “a result of current supply chain factors that are affecting the results of the BBQGuys business
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USHG Acquisition Corp. (HUGS) to Partner With Panera Brands

Nov 9, 2021 INTEL by Kristi Marvin
It’s Déjà Vu as Danny Meyers treads a similar path to Bill Ackman This morning it was announced that USHG Acquisition Corp. (NYSE:HUGS) signed a definitive agreement to become a cornerstone partner with hospitality company Panera Brands as  Panera pursues a traditional IPO. This deal, at first blush, has strong echoes of the Pershing Square
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Hennessy Capital V (HCIC) Terminates Plus Deal

Nov 8, 2021 INTEL by Kristi Marvin
Hennessy Capital Investment Corp. V (NASDAQ:HCIC) announced this afternoon that it and Plus, a global provider of self-driving truck technology, have mutually agreed to terminate their business combination citing “recent developments in the regulatory environment outside of the United States“.  However, it’s unclear at this time what regulations are impeding this combination since none were
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Reuters: Goldman Sachs Selling “SPAC Structured Notes”

Nov 1, 2021 INTEL by Kristi Marvin
Goldman Sachs (NYSE:GS) has reportedly arranged a bond-like financial structure allowing institutional investors access to SPACs without owning any equity in the vehicles, according to Reuters. The notes, which Goldman is calling “SPAC Structured Notes”, have reportedly only been offered to a handful of clients.  However, these notes have a two-year term and receive interest
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Digital World DWAC files Additional Documents on Trump Deal

Oct 26, 2021 INTEL by Kristi Marvin
Digital World Acquisition Corp. (Nasdaq: DWAC), filed their  additional documentation tonight in the form of their merger agreement, voting agreement and lock-up agreement. However, information is still light around the actual company, Trump Media & Technology Group (“TMTG”). While it would have been preferable to at least get a look at a slide deck or
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PAE (Gores III) to be Acquired by Ammentum for $10.05 per Share

Oct 25, 2021 INTEL by Kristi Marvin
PAE Inc. (Nasdaq: PAE), formerly Gores Holdings III, Inc., announced this morning that it is to be acquired by Amentum Government Services Holdings LLC (“Amentum”) in an all-cash transaction valued at approximately $1.9 billion, including the assumption of debt and certain fees. PAE shareholders will receive $10.05 per share in cash at closing, which is
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Ivanhoe Capital Acquisition Corp. (IVAN) Adds to PIPE

Oct 22, 2021 INTEL by Kristi Marvin
Ivanhoe Capital Acquisition Corp. (NYSE:IVAN) announced this afternoon that they have entered into an additional PIPE subscription agreement to support their combination with EV Lithium battery manufacturer, SES Holdings Pte. Ltd. IVAN previously announced a $200 million PIPE in connection with the transaction for $10.00 per share at their combination announcement on July 13, 2021.
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GigCapital4 (GIG) Arranges Additional Forward Purchase / Backstop

Oct 22, 2021 INTEL by Kristi Marvin
GigCapital4 (NASDAQ:GIG) announced this morning that they have entered into another Forward Purchase Agreement (“FPA”), similar to their previously announced agreements with Highbridge and Glazer Capital. Gig4 has now added Tenor Opportunity Master Fund Ltd. (“Tenor”), and as part of the FPA, Tenor agrees to hold their shares through the combination vote for a period
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