The Latest SPAC News and Rumors: March 31, 2022

Mar 31, 2022 INTEL by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: Sarcos acquires RE2 Robotics, British insurance duo unveil SPAC in London, and SomaLogic sees record sales in 2021

Sarcos Acquires RE2 Robotics, Positions for Expansion

Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) announced that the Company has reached a definitive merger agreement to acquire Pittsburgh-based RE2, Inc.

Redwoods Acquisition Corp. (RWODU) Prices $100M IPO

Mar 31, 2022 IPOs by Marlena Haddad

Redwoods Acquisition Corp. priced its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RWODU” Thursday, March 31.

The new SPAC intends to focus on the carbon neutral and energy storage industries with an enterprise value of approximately $250 million to $1 billion.

Artemis Strategic (ARTE) to Combine with Novibet in $696M Deal

Mar 30, 2022 INTEL by Marlena Haddad

Artemis Strategic Investment Corp. (NASDAQ:ARTE) has entered into a definitive agreement to acquire global gaming company Logflex MT Holding Limited, doing business as Novibet, at an enterprise valuation of $696 million. The UK-based firm currently operates iGaming and online sports betting across four regulated European markets: Greece, Ireland, Italy, and Malta. The combined company is
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Breakdown of the SEC’s Proposed SPAC Changes

Mar 30, 2022 INTEL by Kristi Marvin

In today’s much anticipated SEC Open Meeting to discuss SPACs, one of the SEC commissioners, Hester Peirce, who came out against today’s proposed changes, inexplicably lost her internet connection as soon as she had a chance to speak and weigh in.

New SPAC: A SPAC II to Identify Proptech and Fintech Targets

Mar 30, 2022 INTEL, New S-1 Filings by Marlena Haddad

We’re bringing back a blast from the past – when the market wasn’t IPO’ing dozens of new SPAC per month – by featuring interesting new SPACs that have just filed. A SPAC II Acquisition Corp. (NASDAQ:ASCBU) filed its S-1 Monday evening for an offering size of $185 million, just a little over a month after
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The Latest SPAC News and Rumors: March 30, 2022

Mar 30, 2022 INTEL by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: SPACs face new threat from SEC, WeWork promotes CEO to chairman, and AMC eyes more strategic deals after stake in Hycroft

SPACs Face Fresh SEC Legal Threat for Overly Bullish Forecasts

SPAC sponsors who embellish projections about the companies they plan to take public face a new threat in a plan from the U.S.

Queen’s Gambit (GMBT) Shareholders Approve Swvl Deal

Mar 30, 2022 INTEL by Marlena Haddad

Queen’s Gambit Growth Capital (NASDAQ:GMBT) announced this morning that its shareholders have voted to approve its combination with mobility tech firm Swvl.

The SPAC announced its redemption results in a press release yesterday stating that 29,227,806 shares were redeemed, or approximately 84.72%, for a pro rata portion of the funds in the trust account.

OnlyFans Reportedly Trying to Get into Bed With SPACs

Mar 30, 2022 INTEL by Nicholas Alan Clayton

Social content platform OnlyFans has reportedly engaged in talks with multiple SPACs, but has so far failed to seal the deal, according to a report in Axios.

The influencer platform, which is known primarily for hosting explicit sexual content, projected it could swell its income to $1.2 billion in 2021 and $2.5 billion in a March 2021 pitch deck reportedly obtained by the news service.

Poema Global (PPGH) Pre-Announces Expectation of Closing Gogoro Deal

Mar 30, 2022 INTEL by Nicholas Alan Clayton

Poema Global (NASDAQ:PPGH) announced this morning that it expects to close its combination with two-wheeled EV battery charging network Gogoro on April 1, following a shareholder vote at 9:30 am ET tomorrow.

Mach Millet & Andrew Pendergast Discuss SPAC Litigation and D&O Insurance

Mar 30, 2022 INTEL, Podcasts & Webinars by Kristi Marvin

This week, we speak with two leaders in the field of D&O insurance – Mach Millet, who is Managing Director and Marsh’s SPAC Practice Leader, as well as Andrew Pendergast, SPAC Practice Leader at NFP.

Queen’s Gambit (GMBT) Announces Preliminary Redemption Results

Mar 29, 2022 INTEL by Marlena Haddad

Queen’s Gambit (NASDAQ:GMBT) announced its redemption results in connection with its business combination with mobility tech firm Swvl ahead of its shareholder vote tomorrow.

The SPAC saw 29,227,806 shares redeemed, or approximately 84.72%, for a pro rata portion of the funds in the trust account, but the shareholders have until 3:00 p.m.

The Latest SPAC News and Rumors: March 29, 2022

Mar 29, 2022 INTEL by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: Ginkgo Bioworks Q4 revenues quadruple, and Volta sees sharp drop after founders resign

Ginkgo Bioworks Reports Fourth Quarter and Full Year 2021 Financial Results

Ginkgo Bioworks Holdings, Inc.

Spring Valley Acquisition Corp. (SV) Adds $10M PIPE to NuScale Deal

Mar 29, 2022 INTEL by Nicholas Alan Clayton

Spring Valley (NASDAQ:SV) has added $10 million to its PIPE from investment firm SailingStone Capital Partners at $10 per share for its combination with small-scale nuclear fission reactor-maker Nuscale.

This amount brings its total PIPE proceeds to $221, which is more than enough to fulfill the deal’s $200 million minimum cash condition, adding to Spring Valley’s roughly $232 million in trust before redemptions.

New SPAC: Israel Acquisition Corp. Files to Acquire Tech Targets

Mar 28, 2022 INTEL, New S-1 Filings by Marlena Haddad

We’re bringing back a blast from the past – when the market wasn’t IPOing dozens of new SPAC per month – by featuring interesting new SPACs that have just filed. Israel Acquisition Corp. (NASDAQ:ISRLU) is one of ten companies that filed an S-1 in March thus far, incorporating several features that reflect the current SPAC
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Shareholder Votes This Week

Mar 28, 2022 INTEL by Marlena Haddad

We have five scheduled shareholder votes coming up this week. Tuscan Holdings Corp. II (NASDAQ:THCA) will be holding an extension vote tomorrow, while Ventoux CCM (NASDAQ:VTAQ), Queen’s Gambit (NASDAQ:GMBT), Helix (NASDAQ:HLXA), and Poema Global Holdings (NASDAQ:PPGH) look to close their combinations. Ventoux CCM intends to hold the completion vote on its $816.8M deal tomorrow. Its
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The Latest SPAC News and Rumors: March 28, 2022

Mar 28, 2022 INTEL by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: Swvl partners with Moove to rollout EV buses, and private equity firm PAG eyes $2B in Hong Kong IPO plan

Swvl and Moove Partner to Rollout EV Buses

Swvl, a global provider of transformative tech-enabled mass transit solutions, and Moove, the world’s first mobility fintech, today announced that they have entered into a partnership to scale Moove’s revenue-based vehicle financing model across the MENAP (Middle East, North Africa, and Pakistan) region, as well as expand vehicle classes to include electric buses.

FirstMark Horizon (FMAC) Drops PIPE Price to $7.50 Following Vote

Mar 28, 2022 INTEL by Nicholas Alan Clayton

FirstMark Horizon (NASDAQ:AMAO) announced this morning that it is working to close its combination with internet service provider Starry, but has made significant changes to the deal.

Shareholders voted to approve the transaction two weeks ago on March 16, but most likely redemptions and a decision that the post-transaction company would hold certain levels of debt prompted a re-negotiation with PIPE investors.

Gesher I Acquisition Corp. (GIAC) Tweaks FPA and Adds Backstop

Mar 28, 2022 INTEL by Nicholas Alan Clayton

Gesher I (NASDAQ:GIAC) announced changes to its forward-purchase agreement (FPA) in an 8-K filed this morning while adding a $10 million backstop.

The SPAC listed in October 2021 with a $45 million FPA and has amended this to note that its “lead forward purchaser” is in for $40 million in units at $10 per unit, but it is unclear if this is a change in the total amount of the FPA.

SPAC IPO Terms Tracker: Another Quiet Week

Mar 26, 2022 INTEL by sam.beattie

Terms Tracker for the Week Ending March 25th, 2022 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. For the week ending March 25th, we saw just one new S-1 registration statement and one IPO. Compared to last week, that’s three fewer new
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American Acquisition Opportunity Inc. (AMAO) Adds FPA

Mar 25, 2022 INTEL by Marlena Haddad

American Acquisition Opportunity Inc. (NASDAQ:AMAO) announced redemption results this afternoon as well as its new forward purchase agreement with certain accredited investors.

On Monday, March 21, AMAO held a special meeting to vote on three proposals after adjourning its meeting held on March 18.