Genesis Growth Tech Acquisition Corp. (NASDAQ:GGAA) announced this afternoon that it has mutually terminated its deal with French medical software firm Biolog-id.
The SPAC originally signed a $312 million memorandum of understanding with the medical software company in August 2022 and intended on financing the combination with about $257.1 million from its trust but never supplemented this with a PIPE.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
The highly anticipated 2022 Lucid Air Grand Touring (NASDAQ:LCID) needs to catch up to its EPA mileage range.
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Inception Growth (NASDAQ:NSTC) entered into a non-redemption agreement with investors securing 400,000 shares that will not be redeemed in connection with the special meeting to extend its transaction deadline by six months from March 13 to September 13.
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Silver Spike II (NASDAQ:SPKB) announced in an 8-K this morning that it intends to adjourn its special meeting set to be held at noon ET today and postpone it until the same time March 10 without conducting any business.
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VPC Impact Acquisition Holdings II (NASDAQ: VPCB) today announced that it will redeem all of its outstanding Class A ordinary shares on March 21.
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Altimar Acquisition Corp. III (NYSE:ATAQ) announced in an 8-K this afternoon that it has again adjourned its extension vote and will reconvene on March 6 at 4:00 p.m.
A total of 15,801,410 ordinary shares, representing approximately 81.42% of Altimar’s outstanding shares, participated in the meeting, so turnout was not an issue, but it is likely that redemption levels are not yet where the SPAC wants them to be.
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Northern Star Investment Corp. III (NYSE:NSTC) entered into its fourth non-redemption agreement with several unaffiliated third parties in exchange for them agreeing not to redeem an aggregate of 1,400,000 shares in connection with the special meeting to extend its timeline from March 4 to September 4.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Blank-check firm Schultze Special Purpose Acquisition Corp.
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Prime Impact I (NYSE:PIAI) announced in an 8-K this morning that it has postponed its upcoming extension vote slated for today to noon ET March 8.
Shareholders now have until 5 pm ET March 6 to make their redemption decisions and as of the last deadline, 2,725,066 shares had been tendered for redemption.
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Atlantic Coastal (NASDAQ:ACAH) announced in an 8-K this morning that it inked new non-redemption agreements with investors as it secured an extension of its transaction deadline at a special meeting yesterday.
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SPACInsider contributors Anthony Sozzi and Nic Narang this week compiled their three favorite potential SPAC targets among potential targets in the defense sector. We look at why they are compelling and why each could be a fit for a blank-check merger.
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Build Acquisition Corp. (NYSE:BGSX) today announced that it will redeem all of its outstanding common stock that was included in the units issued in its initial public offering, effective as of the close of business on March 17, 2023, as the company will not consummate an initial business combination on or prior to March 19, 2023.
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Northern Star Investment Corp. III (NYSE:NSTC) and Northern Star Investment Corp. IV (NYSE:NSTD) announced in 8-K filings this afternoon that they have each secured additional non-redemption agreements as they work to extend their transaction deadlines.
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Jaguar Global (NASDAQ:JGGC) has entered into a definitive agreement to combine with smart glass manufacturer GLAAM at an enterprise value of $309 million, or 14.7x its 2022 revenue.
Seoul-based GLAAM manufactures glass that doubles as a display for building exteriors to be used as space for marketing or other media.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
A Delaware court recently issued a significant opinion in a directors and officers liability claim involving a special purpose acquisition company.
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Insight Acquisition Corp. (NYSE:INAQ) announced in an 8-K this morning that it postponed its extension vote today and will reconvene the special meeting at 10:00 a.m. ET on March 6.
The SPAC intends to use this additional to engage with its stockholders.