The Latest SPAC News and Rumors: February 21, 2023

Feb 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: EO Charging raises new funds after SPAC deal collapses, Bridgetown Holdings weighs merger with Hyphen Group, and Graphjet receives awards from Frost & Sullivan

UK EV charging start-up raises new funds after SPAC collapse

EO Charging, a British electric vehicle charging company that works with companies such as Amazon, has agreed funding from investors including from the Middle East at a lower valuation than targeted under a failed Spac listing in New York.

TPB Acquisition Corporation I (TPBA) Adds FPA to Lavoro Deal

Feb 21, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

TPB Acquisition Corp I (NASDAQ:TPBA) announced in an 8-K this morning that it has entered into forward purchase agreements with investors to backstop their shares through close.

The SPAC did not specify how many shares are currently covered by these agreements and noted that similar arrangements with other parties may still be made.

Starry Group Holdings Files for Chapter 11 Bankruptcy

Feb 21, 2023 Headline Post, INTEL by Marlena Haddad

Internet service provider Starry Group Holdings (NYSE:STRY) and its affiliates today announced that the company has started voluntary chapter 11 bankruptcy proceedings and has entered into a Restructuring Support Agreement (“RSA”) with lenders holding its debt, almost a year after completing its merger with FirstMark Horizon Acquisition Corp.

Summit Healthcare Acquisition Corp. (SMIH) Reschedules Completion Vote

Feb 21, 2023 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

Summit (NASDAQ:SMIH) announced in an 8-K this morning that it will reschedule its vote to complete its combination with YS Biopharma from March 1 to 9 am, ET March 14.

This will also push forward the redemption deadline to 5 pm, March 10.

Anzu Special Acquisition Corp. I (ANZU) Engages Insurance Agent to Cover 1% Excise Tax

Feb 21, 2023 Headline Post, INTEL, SPACs in the News by Kristi Marvin

In the ongoing 1% excise tax battle, Anzu Special Acquisition Corp I (Nasdaq: ANZU) dropped a supplement to its extension vote proxy this morning. Anzu is holding its previously adjourned extension vote at 9:30AM (ET) today to extend its completion deadline six months from March 4, 2023 up to September 4, 2023.

SPAC IPO Terms Tracker: More Liquidations, but Some Noticeable Improvement in IPOs

Feb 18, 2023 Headline Post, INTEL by Kristi Marvin

Terms Tracker for the Week Ending February 17, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. A little more than halfway through the month of February and SPACs have managed to price five new IPOs. This is particularly notable in light
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Churchill Capital Corp VI & VII (CCVI) (CVII) Sign Non-Binding LOIs

Feb 17, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

Churchill Capital Corp VI (NYSE:CCVI) and Churchill Capital Corp VII (NYSE:CVII) announced this afternoon that both companies have signed non-binding letters of intent (LOI) with unnamed targets.

Both SPACs did not disclose any information on the targets but noted that the private companies meet their investment criteria.

The Latest Liquidations: February 17, 2023

Feb 17, 2023 Headline Post, INTEL by Marlena Haddad

Latest SPAC Liquidations: FTAC Athena, FTAC Parnassus , FTAC Hera, Kismet Acquisition Three

FTAC Athena Acquisition Corp. (FTAA) to Liquidate on February 24

FTAC Athena Acquisition Corp. (NASDAQ:FTAA) a blank-check company formed for the purpose of acquiring or merging with one or more businesses, today announced that it intends to dissolve and liquidate, effective as of the close of business on February 24, 2023, and will redeem all of the outstanding Class A ordinary shares, at a per-share redemption price of approximately $10.17.

Mountain Crest III (MCAE) Closes ETAO Deal

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

Mountain Crest Acquisition Corp. III (NASDAQ:MCAE) announced this afternoon that it has closed its combination with healthcare firm ETAO International Group.

MCAE shareholders approved the combination during a special meeting held last week on February 7, but at the time, the SPAC did not divulge a timeline for the closing of the deal.

The Latest SPAC News and Rumors: February 17, 2023

Feb 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: Intuitive Machine soars 330%, FaZe Clan drops 20% of its workforce

Space-Exploration Co.’s

A SPAC I Acquisition Corp. (ASCA) to Combine with First Fertility Group in $50M Deal

Feb 17, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

A SPAC I (NASDAQ:ASCA) has entered into a definitive agreement to combine with fertility services provider NewGenIvf at an enterprise value of $50 million.

Hong Kong-based NewGenIvf provides a full range of fertility services through clinics in four Southeast Asian countries.

Forest Road Acquisition Corp II (FRXB) Adds Non-Redemption Agreement

Feb 17, 2023 Headline Post, INTEL by Nicholas Alan Clayton

Forest Road II (NYSE:FRXB) announced in an 8-K filing this morning that it has signed a non-redemption agreement with one more investors, securing 1,000,000 shares through an upcoming extension vote.

Top 3 SPAC Targets – AI Tools

Feb 17, 2023 Headline Post, INTEL by Nicholas Alan Clayton

SPACInsider contributors Anthony Sozzi and Nic Narang this week compiled their three favorite potential SPAC targets among potential targets leveraging AI technology. We look at why they are compelling and why each could be a fit for a blank-check merger.

Good Works II Acquisition Corp. (GWII) Terminates Direct Biologics Deal

Feb 16, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

Good Works II (NASDAQ:GWII) announced this afternoon that it is mutually terminating its combination with drug developer Direct Biologics, just months after the deal announcement.

The SPAC did not elaborate further on the termination but noted that the agreement contained customary mutual releases and covenants not to sue.

The Latest SPAC News and Rumors: February 16, 2023

Feb 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: Delaware Court of Chancery ruling regarding stockholder class vote creates new obstacle for de-SPACs

Delaware Court Ruling Regarding Stockholder Class Vote Creates New Obstacle For Former SPACs

In a case filed simply to determine whether a plaintiff was entitled to attorneys’ fees and expenses for conferring a benefit on a corporation, the Delaware Court of Chancery held that the planned stockholder vote by the corporation would have been insufficient under Delaware law to authorize amendments to the corporation’s certificate of incorporation in connection with a de-SPAC merger transaction.

Nubia Brand International Corp. (NUBI) to Combine with Honeycomb Battery in $700M Deal

Feb 16, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Nubia Brand International Corp. (NASDAQ:NUBI) has entered into a definitive agreement to combine with battery technology developer Honeycomb for initial equity consideration of $700 million. Dayton, Ohio-based Honeycomb is the battery division of industrial chemical firm Global Graphene Group and it holds patents on solid-state batteries for EVs. The combined company is expected to trade
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LF Capital Acquisition Corp. II (LFAC) Adjourns Vote on Extension Contribution

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

LF Capital Acquisition Corp. II (NASDAQ:LFAC) announced in an 8-K this morning that it has adjourned its February 15 vote to 6 pm ET February 17.

Shareholders in the vote are set to consider an increase to LF Capital II’s monthly contribution to its trust from $0.033 to $0.04.

CENAQ Energy Corp. (CNAQ) Closes Deal with Bluescape, Now Verde Clean Fuels

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

CENAQ Energy Corp. (NASDAQ:CNAQ) announced it has closed its combination with Bluescape Clean Fuels following the addition of a PIPE earlier this week.

Bluescape is now to be renamed Verde Clean Fuels with its shares and warrants set to trade on the Nasdaq under the symbols “VGAS” and “VGASW” later today.

The Latest Liquidations: February 15, 2023

Feb 15, 2023 INTEL by Marlena Haddad

Latest SPAC Liquidations: Ibere Pharmaceuticals, New Vista, Kadem Sustainable Impact Corp.

Ibere Pharmaceuticals (IBER) to Liquidate on March 2

Ibere Pharmaceuticals (NYSE:IBER) today announced that it will redeem all of its outstanding ordinary shares that were included in the units issued in its initial public offering, effective as of the close of business on March 2, 2023.

LF Capital Acquisition Corp. II (LFAC) Signs Non-Binding LOI

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

LF Capital Acquisition Corp. II (NASDAQ:LFAC) announced this afternoon that it has signed a non-binding letter of intent (LOI) with a target.

Although LF Capital II did not disclose the target’s name, it did mention that the company is a profitable U.S.-based