Project Energy Reimagined Acquisition Corp. (Nasdaq: PEGR) announced this afternoon that it has signed a non-binding letter of intent (LOI) to combine with an unnamed target.
The SPAC kept details on the potential merger to a minimum, but with today’s signed LOI in hand, it can now auto-extend an additional 3 months to August 2, without a contribution to trust.
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CIIG Capital Partners II (NASDAQ:CIIG) announced this afternoon that it has completed its business combination with EV motorcycle company Zapp.
The SPAC’s shareholders already approved of the deal at a meeting held on April 14, but did not provide further information on the closing of the transaction at that time.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Roth CH V (NASDAQ:ROCL) announced this morning that it has entered into a letter of intent (LOI) to combine with podcast platform Slacker at a proposed enterprise value of $160 million.
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LAMF Global Ventures Corp. I (Nasdaq: LGVC) announced this morning that it has signed a non-binding letter of intent (LOI) to combine with a leading FDA-cleared innovator in pregnancy care, Nuvo Group Ltd.
Under the LOI, LAMF contemplates Nuvo at a pre-money equity valuation of $269 million, excluding a seller earnout of approximately $31 million.
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Arrowroot Acquisition Corp. (NASDAQ:ARRW) has entered into a definitive agreement to combine with AI technology firm iLearningEngines at an enterprise value of $1.4 billion, or 3.3x its 2023E.
The Bethesda, Maryland-based company provides AI-based tools to automate business operations and improve efficiencies in internal programs for a variety of industries.
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On April 26, 2023 and April 27, 2023, AltEnergy Acquisition Corp. (NASDAQ:AEAE) and AltEnergy Acquisition Sponsor, LLC, the sponsor of the Company, entered into non-redemption agreements with certain unaffiliated third parties in exchange for the holder or holders agreeing either not to request redemption in connection with the extension or to reverse any previously submitted redemption demand in connection with the extension with respect to an aggregate of 1,250,000 Class A common stock.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Electriq Power (Electriq), a provider of intelligent energy storage and management for homes and small businesses, has today announced the signing of an agreement with SLO Climate Coalition (SLOCC) to deliver affordable, sustainable, and resilient energy to San Luis Obispo County residents through fully financed residential solar-plus-storage microgrids.
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This week, we speak with Joe Reece and Stephen Kadenacy, from the SilverBox team. Joe and Stephen led the Boxwood Merger Corp. and SilverBox Engaged Merger Corp. I transactions, as well as recently priced the SilverBox Corp.
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Chain Bridge I (NASDAQ:CBRG) announced this morning that it has signed a letter of intent (LOI) to combine with an unnamed target company.
Shareholders will have this to consider as they vote at a May 5 special meeting to extend the SPAC’s transaction deadline from May 15 to November 15.
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Evo Acquisition Corp. (NASDAQ:EVOJ) announced that it has mutually terminated its business combination with Singaporean logistics software firm 20Cube.
The parties did not provide the causes of the breakup, but noted that the sides had signed agreements to terminate on mutually acceptable terms.
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On April 25, 2023, Juniper II (NYSE:JUN.U) entered into additional Non-Redemption Agreements with 4 unaffiliated third parties. The additional holders agreed to either not request redemption in connection with the extension or to reverse any previously submitted redemption demand with respect to an aggregate of 1,600,000 shares of Class A Common Stock.
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Intelligent Medicine Acquisition Corp. (NASDAQ:IQMD) today announced that because the company does not believe it will be able to consummate an initial business combination, it intends to dissolve and liquidate and will redeem all of the outstanding shares of Class A common stock at a per-share redemption price of approximately $11.22 based on the amount in trust as of April 24, 2023.
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AltEnergy Acquisition Corp. (Nasdaq: AEAE) announced this afternoon that it has postponed its April 27 special meeting to 12 pm ET on April 28.
At the special meeting, stockholders will be asked to vote on a proposal to extend the SPAC’s completion date from May 2, 2023, to May 2, 2024.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
GSR II Meteora Acquisition Corp.
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Investcorp Europe I (NASDAQ:IVCB) has entered into a definitive agreement to combine with brand protection firm OpSec at an enterprise value of $426 million, or 1.9x its 2023E revenue.
London-based OpSec provides a wide range of services to companies to monitor and protect their brands and intellectual property both physically and digitally.
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CIIG Capital Partners II (NASDAQ:CIIG) announced in an 8-K this morning that it has secured a forward-purchase agreement for up to 10,000,000 shares as it works to close its combination with EV motorcycle-maker Zapp.
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Apollo Strategic II (NYSE:APGB) today announced that it entered into a non-redemption agreement with an unaffiliated third party.
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