The Latest SPAC News and Rumors: March 21, 2023

Mar 21, 2023 Headline Post, INTEL, SPACs in the News by Marlena Haddad

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

Latest SPAC News: eToro secures $250M at $3.5B valuation after scrapping SPAC, DWAC stock gains amid speculation Trump may be arrested, and Morgan Creek SPAC ETF to shut down

eToro secures $250M at a $3.5B valuation after scrapping SPAC, seeing slower growth

After calling off its plans to go public via a SPAC at a $10.4 billion valuation in 2022, trading platform eToro has secured $250 million in funding at a $3.5 billion valuation.

JATT Acquisition Corp. (JATT) Closes Zura Bio Deal

Mar 21, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Nicholas Alan Clayton

JATT Acquisition Corp. (NYSE: JATT) announced this morning that it has closed its combination with biotech firm Zura Bio.

The combined company’s shares and warrants are expected to begin trading on the Nasdaq later today, March 21, under the symbols “ZURA” and “ZURAW”, respectively.

Aimfinity Investment Corp. I (AIMA) Undergoes Leadership Change

Mar 20, 2023 Headline Post, INTEL by Marlena Haddad

Aimfinity Investment Corp. I (NASDAQ:AIMA) announced this afternoon that its sponsor entered into a repurchase agreement with previous directors and officers of the company and will undergo a change in management.

On March 16, Aimfinity’s sponsor initiated a distribution of 300,000 founder shares and 492,000 private placement units to its existing members and entered into a repurchase agreement with Xin Wang, Joshua Gordon, James J.

New SPAC: AI Transportation Acquisition Corp. Files for $50M IPO

Mar 20, 2023 INTEL, New S-1 Filings by Marlena Haddad

AI Transportation Acquisition Corp. (NASDAQ:AITR) filed its S-1 last Wednesday afternoon for a $50 million IPO, marking the first SPAC to file for an IPO in March. While the new company may pursue a target in any industry, it intends to focus its search in the transportation field, including but not limited to logistics, new energy
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The Latest SPAC News and Rumors: March 20, 2023

Mar 20, 2023 Headline Post, INTEL, SPACs in the News by Marlena Haddad

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

Latest SPAC News: Virgin Orbit plans for insolvency amid rescue talks with investors, WeWork reaches deal to cut debt, and Pear Therapeutics explores “strategic alternatives”

Virgin Orbit plans for insolvency amid rescue talks with investors

Sky News has learned that the commercial space satellite venture founded by Sir Richard Branson’s Virgin Group is working with Alvarez & Marsal (A&M) and Ducera, two restructuring firms, on fallback plans in the event that it cannot secure new funding.

Home Plate Acquisition Corporation (HPLT) to Combine with Heidmar in $214M Deal

Mar 20, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Home Plate (NASDAQ:HPLT) has entered into a definitive agreement to combine with shipping company Heidmar at an anticipated enterprise value of $214.4 million, or 7.2x its 2023E EBITDA. Athens-based Heidmar operates an asset-light shipbroking network providing access to a pool of 60 fuel tanker and dry bulk ships. The combined company is expected to trade
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two (TWOA) Postpones Extension Vote

Mar 20, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Nicholas Alan Clayton

two (NYSE:PIAI) announced in an 8-K this morning that it has pushed back its special meeting one week from March 24 to 10 am ET, March 31.

Shareholders at the meeting will consider a proposal to extend its transaction deadline from April 1 to January 1, 2024.

SPAC IPO Terms Tracker: March Still Coming in Like a Lion

Mar 18, 2023 Headline Post, INTEL by Kristi Marvin

Terms Tracker for the Week Ending March 17, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Despite this week’s headlines about bank failures, EF Hutton managed to file both a new S-1 registration statement and price an IPO. They should have
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The Latest Liquidations: March 17, 2023

Mar 17, 2023 INTEL by Nicholas Alan Clayton

Latest SPAC Liquidations: Northern Genesis III, MSD, and Tech and Energy Transition Corp.

Northern Genesis Acquisition Corp. III (NGC) to Liquidate on March 24

Northern Genesis III (NYSE:NGC) announced that it will redeem all outstanding shares effective as of the close of business on March 27.

Tech and Energy Transition Corp. (TETC) Shareholders Vote Against Extension, Forced to Liquidate

Mar 17, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

Tech and Energy Transition Corp. (NASDAQ: TETC) announced this afternoon that its shareholders have voted against a proposal to extend the SPAC’s timeline to complete a business combination.

Holders of 38,069,946 shares of TETC’s common stock, comprised of 28,495,396 shares of Class A common stock, and 9,575,000 shares of Class B common stock, were present at yesterday’s special meeting, representing approximately 79.11% of the voting power of issued and outstanding shares.

Direct Selling Acquisition Corp. (DSAQ) Adjourns Extension Vote, Signs LOI

Mar 17, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

Direct Selling Acquisition Corp. (NYSE: DSAQ) announced this morning that it intends to adjourn its extension vote, originally scheduled to be held on March 22, and will reconvene on March 24 at 11:00 a.m.

The Latest SPAC News and Rumors: March 17, 2023

Mar 17, 2023 Headline Post, INTEL, SPACs in the News by Marlena Haddad

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

Latest SPAC News: Saudi Arabia explores setting up framework for SPAC listings, and Boxed considers filing for bankruptcy

Saudi Arabia Explores Setting Up Framework for SPAC Listings

Saudi Arabia’s market regulator is looking into setting up a legal framework to allow special-purpose acquisition companies to list in the kingdom.

Blockchain Moon Acquisition Corp. (BMAQ) Reverses Decision to Liquidate

Mar 16, 2023 Headline Post, INTEL by Marlena Haddad

After announcing its intent to liquidate yesterday, Blockchain Moon Acquisition Corp.(NASDAQ:BMAQ) disclosed this afternoon that it no longer plans to dissolve its trust and will instead continue its search for an alternative target to combine with.

Four Leaf Acquisition Corporation (FORL) Prices Downsized $52M IPO

Mar 16, 2023 Headline Post, INTEL, IPOs by Marlena Haddad

Four Leaf Acquisition Corp. priced its downsized $52 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “FORL” Friday, March 17, 2023.

The SPAC intends to pursue an acquisition of a company focused on the Internet of Things (“IoT”) and adjacent technologies that target the IoT market such as devices, components, software, and communication protocols. Four

JATT Acquisition Corp. (JATT) Shareholders Approve Zura Bio Deal

Mar 16, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

JATT Acquisition Corp. (NYSE: JATT) announced this afternoon that its shareholders have approved its combination with clinical-stage biotechnology company Zura Bio.

A total of 4,907,863 ordinary shares, or 95.5% of JATT’s issued and outstanding ordinary shares, were present at today’s special meeting.

The Latest SPAC News and Rumors: March 16, 2023

Mar 16, 2023 INTEL, SPACs in the News by Marlena Haddad

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

Latest SPAC News: Energy storage stockholders sue SPAC board alleging deceit, Virgin Orbit stock falls on operations pause, and tax surprises surface for SPACs

Energy Storage Stockholders Sue SPAC Board Alleging Deceit

Stockholders for an energy storage company sued their firm’s board of directors alleging they misled investors when bringing their corporation public through a SPAC merger.

GX Acquisition Corp. II (GXII) Shareholders Approve NioCorp Deal

Mar 16, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Nicholas Alan Clayton

GX Acquisition Corp. II (OTC:GXII) announced this morning that its shareholders have approved its combination with rare earth mineral miner NioCorp (TSX:NB) and the parties expect to close the transaction on March 17.

The Latest Liquidations: March 15, 2023

Mar 15, 2023 INTEL by Marlena Haddad

Latest SPAC Liquidations: Blockchain Moon

Blockchain Moon Acquisition Corp. (BMAQ) to Liquidate

Blockchain Moon Acquisition Corp. (NASDAQ:BMAQ) announced this afternoon that it has terminated its deal with Web 3.0 infrastructure builder DLTx ASA (OSX:DLTX) and will liquidate its trust.

Blockchain Moon Acquisition Corp. (BMAQ) Terminates DLTx Deal, Intends to Liquidate

Mar 15, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

Blockchain Moon Acquisition Corp.(NASDAQ:BMAQ) announced this afternoon that it has unilaterally terminated its deal with Web 3.0 infrastructure builder DLTx ASA (OSX:DLTX).

As a result of the termination, the SPAC’s sponsor, Jupiter Sponsor LLC, disclosed that it will not contribute any additional funds to its trust account.

The Latest SPAC News and Rumors: March 15, 2023

Mar 15, 2023 Headline Post, INTEL, SPACs in the News by Marlena Haddad

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

Latest SPAC News: Trump’s Truth Social cuts staff, Redbox expects boost in business, and Arrival raises $300M

Donald Trump’s Truth Social Cuts Staff as SPAC Languishes

The company behind former President Donald Trump’s Truth Social has trimmed staff while awaiting regulatory approval for a merger that offers a financial lifeline, according to two people with knowledge of the matter.