Brilliant Acquisition Corp. (NASDAQ:BRLI) announced this morning that its chairman intends to adjourn its extension vote, originally scheduled to be held on April 17, and will reconvene at 10:00 a.m. ET on April 20.
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On April 11, 2023, Banyan Acquisition Corporation (NYSE:BYN) entered into non-redemption agreements with unaffiliated third parties, pursuant to which such third parties have agreed not to redeem an aggregate of 1,200,000 shares of Class A common stock of the company in connection with the extension proposals.
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Atlantic Coastal Acquisition Corp. II (NASDAQ:ACAB) announced that it adjourned today’s extension vote, without conducting any business, and will reconvene at 9:30 a.m. ET on April 18.
In connection with the adjournment of the meeting, ACAB is also extending the redemption deadline to April 14.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
The biggest blank-check company in Europe, backed by LVMH founder Bernard Arnault and former UniCredit chief Jean Pierre Mustier, is set to be wound up after failing to find a target in the financial services sector.
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Digital Health (NASDAQ:DHAC) announced in an 8-K this morning that it has amended its previously announced backstop agreement in connection to its business combination with telehealth software firm VSee and digital healthcare provider iDoc.
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On April 11, Tio Tech A (NASDAQ:TIOA) announced that it will be unable to complete an initial business combination and intends to redeem all of the outstanding Class A ordinary shares on or about April 24.
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Fintech Ecosystem Development Corp. (NASDAQ:FEXD) announced that it will adjourn tomorrow’s extension vote and will reconvene the meeting at 10:00 am ET on April 20 in order to change the terms of the extension proposal.
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Blue Safari (NASDAQ:BSGA) announced in an 8-K this afternoon that its shareholders approved its combination with crypto mining group Bitdeer at a special meeting held earlier today.
Holders of 2,974,230 ordinary shares of BSGA were present, representing approximately 84.8% of the total ordinary shares of BSGA, at today’s meeting.
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Lakeshore II (NASDAQ:LBBB) filed an 8-K this afternoon announcing it has signed a Standby Equity Purchase Agreement (SEPA) with YA II PN, Ltd. (“Yorkville”) in relation to its proposed Business Combination with Nature’s Miracle, Inc.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Aeries Technology, a global professional services and consulting partner for business leadership teams, private equity sponsors, and their portfolio companies, today announced the launch of its cyber security managed services offering, giving companies access to world-class cyber security services and Information Security Management Systems (ISMS) designed to meet and exceed the standards of an enterprise-level Chief Information Security Officer at a lower cost of hiring in-house experts.
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Cascadia Acquisition Corp (NASDAQ:CCAI) announced this morning that it has terminated its deal with wearable technology-maker RealWear.
With limited details on the termination, it remains unclear if the breakup was mutual and if Cascadia will continue its search for an alternative target.
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Panacea Acquisition Corp. II (NASDAQ:PANA) announced that it will liquidate and redeem its shares as promptly as possible, but no later than April 21.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Companies that went public through mergers with SPACs in recent years booked billions of dollars in goodwill write-downs in 2022, reflecting in part a reckoning of the heady premiums paid to secure deals during the SPAC boom.
On April 6, 2023, Concord Acquisition Corp. III (NYSE:CNDB) and its sponsor entered into one or more agreements with one or more third parties in exchange for them agreeing not to redeem shares of an unknown number of the company’s Class A common stock in connection with its extension meeting to be held May 4, 2023.
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Games & Esports Experience Acquisition Corp. (Nasdaq: GEEX) announced today that it will redeem all of the issued and outstanding Class A ordinary shares on or prior to April 14, 2023, because the Company’s sponsor has determined that it will not make an additional contribution to the Company’s trust account required in order to extend the April 7, 2023 deadline.
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Kensington V (NYSE:KCGI) has entered into a definitive agreement to combine with EV-maker Arrival (NASDAQ:ARVL) at an enterprise value of $524 million.
Luxembourg-based Arrival manufactures EV cargo delivery vehicles using proprietary micro-factory manufacturing processes.
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In connection with the extension meeting of Banyan Acquisition Corporation (NYSE:BYN), the company and its sponsor have entered into a non-redemption agreement with an unaffiliated third party, pursuant to which such third party has agreed not to redeem an aggregate of 559,600 shares of Class A common stock.
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