East Stone Acquisition Corporation (ESSC) Adds Backstop

Nov 15, 2021 INTEL by Nicholas Alan Clayton

East Stone (NASDAQ:ESSC) announced in an 8-K this morning that it has agreed to backstops with institutional investors ahead of its completion vote later this month. East Stone has an estimated $10.26 per share in trust and so it could still use some breathing room. In this case, the backstop also applies to two separate
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SPAC IPO Terms Tracker: IPO Performance Remains Underwhelming

Nov 13, 2021 INTEL by sam.beattie

Terms Tracker for the Week Ending Nov. 12, 2021 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This week, we saw nine new S-1 registration statements, four less than last week, and 14 IPOs, nine less than last week. As we approach
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Mountain Crest Acquisition Corp. V (MCAGU) Prices $60M IPO

Nov 12, 2021 IPOs by Anthony Sozzi

Mountain Crest Acquisition Corp. V announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “MCAGU” Friday, November 12.

The Latest SPAC News and Rumors: November 12, 2021

Nov 12, 2021 INTEL by Marlena Haddad

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

Latest SPAC News: Desktop Metal completes acquisition of ExOne and Barrows Hotel Enterprises focuses on hotel improvements

Desktop Metal Completes Acquisition of ExOne, Cementing Its Leadership in Additive Manufacturing for Mass Production

Desktop Metal, Inc.

Austerlitz I (AUS) Terminates Wynn Interactive Deal

Nov 12, 2021 INTEL by Nicholas Alan Clayton

Austerlitz I (NYSE:AUS) announced this morning it has mutually terminated its business combination with online gaming company Wynn Interactive. This follows a spate of deal revisions in SPAC land and it is possible that Austerlitz also attempted re-negotiate the terms of its transaction. But, this deal was different in that it targeted a subsidiary of
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Top 3 SPAC Targets – Beyond the Infrastructure Bill

Nov 12, 2021 INTEL by Nicholas Alan Clayton

SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among companies poised to take big leaps while the Biden infrastructure deal is paying out on upgrading the US.

Integrated Rail and Resources Acquisition Corp. (IRRX.U) Prices $200M IPO

Nov 11, 2021 IPOs by Marlena Haddad

Integrated Rail and Resources Acquisition Corp. announced the pricing of its $200 million IPO and its units are expected to begin trading on the NYSE under the symbol “IRRX.U” Friday, November 12.

The Latest SPAC News and Rumors: November 11, 2021

Nov 11, 2021 INTEL by Marlena Haddad

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

Latest SPAC News: Equinox obtains new financing in prelude to potential SPAC merger, ELMS cuts 2021 production plans, and EO Charging announces expansion into U.S.

LAMF Global Ventures Corp. I (LGVCU) Prices Upsized $220M IPO

Nov 10, 2021 IPOs by Marlena Haddad

LAMF Global Ventures Corp. I announced the pricing of its upsized $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “LGVCU” Thursday, November 11.

VMG Acquisition Corp. (VMGAU) Prices $200M IPO

Nov 10, 2021 IPOs by Marlena Haddad

VMG Acquisition Corp. announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VMGAU” Thursday, November 11.

The new SPAC intends to identify and complete a business transaction with a company in the high-growth consumer and retail industry.

Northern Genesis II (NGAB) Shareholders Approve Embark Deal

Nov 10, 2021 INTEL by Marlena Haddad

Northern Genesis Acquisition Corp. II (NYSE:NGAB) secured shareholder approval of its combination with autonomous trucking technology developer Embark Trucks Inc. in a special meeting held yesterday.

NGAB’s 8-K filing disclosed that stockholders holding 29,986,289 shares exercised their right to redeem for a pro rata portion of the funds, removing 72.431% of the SPAC’s trust account.

The Latest SPAC News and Rumors: November 10, 2021

Nov 10, 2021 INTEL by Marlena Haddad

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

Latest SPAC News: Kin Insurance sees growth accelerate at start of fourth quarter, and Clover Health strengthens presence across Georgia with new contracts

Kin Insurance Sees Growth Accelerate at the Start of Fourth Quarter 2021, While Adjusted Loss Ratio Improves

Kin Insurance, Inc.,

Virtuoso Acquisition Corp. (VOSO) and Wejo Secure Additional Financing

Nov 10, 2021 INTEL by Kristi Marvin

Virtuoso Acquisition Corp. (Nasdaq:VOSO) announced this morning that they have secured additional financing ahead of their scheduled shareholder vote to combine with Wejo on Tuesday, November 16th. VOSO previously announced a $100 million PIPE with investors including Microsoft (Nasdaq: MSFT), Palantir Technologies Inc. (NYSE:PLTR) and General Motors (NYSE:GM), in connection with their combination announcement on
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Rosecliff Acquisition Corp. (RCLF) to Combine with Gett in $1Bn Deal

Nov 10, 2021 INTEL by Nicholas Alan Clayton

Rosecliff (NASDAQ:RCLF) has entered into a definitive agreement to combine with transportation management firm Gett at an enterprise value of $1 billion, or 5.4x its 2021E revenue. London-based Gett provides software to help clients manage employee ground transportation including booking, payments and analytics. The combined company is expected to trade on the Nasdaq under the
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Ventoux CCM (VTAQ) to Combine with Presto in $816.8M Deal

Nov 10, 2021 INTEL by Marlena Haddad

Ventoux CCM Acquisition Corp. (NASDAQ:VTAQ) has entered into a definitive agreement to combine with restaurant management software provider Presto, at a fully diluted enterprise value of $816.8M, or 7.2x CY23E revenue. Silicon Valley-based Presto provides automation technology for the restaurant sector including many of the top 20 restaurant chains in the U.S. The combined company
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Velocity Acquisition Corp. (VELO) Terminates BBQGuys Deal

Nov 10, 2021 INTEL by Kristi Marvin

Velocity Acquisition Corp. (NASDAQ:VELO) announced this morning that it and BBQGuys, a specialty e-commerce platform for higher-end BBQ grills, grilling accessories and outdoor living projects, have mutually agreed to terminate their business combination. Th parties cited the move was “a result of current supply chain factors that are affecting the results of the BBQGuys business
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Crown PropTech Acquisitions (CPTK) to Combine with Brivo in $808M Deal

Nov 10, 2021 INTEL by Nicholas Alan Clayton

Crown PropTech (NYSE:CPTK) has entered into a definitive agreement to combine with smart building solutions provider Brivo at an enterprise value of $808 million, or 7.3x its 2022E revenue. Bethesda, Maryland-based Brivo provides cloud-connected property management software and hardware to commercial clients including developers and businesses. The combined company is expected to trade on the
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Blockchain Coinvestors Acquisition Corp. I (BCSAU) Prices Upsized $261M IPO

Nov 10, 2021 IPOs by Kristi Marvin

Blockchain Coinvestors Acquisition Corp. I announced the pricing of its upsized $261 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “BCSAU” Wednesday, November 10.

Arena Fortify Acquisition Corp. (AFACU) Prices $150M IPO

Nov 9, 2021 IPOs by Marlena Haddad

Arena Fortify Acquisition Corp. announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “AFACU” Wednesday, November 10.

The new SPAC intends to focus on acquisition candidates that have either recently emerged from bankruptcy court protection or will require incremental capital as part of a balance sheet restructuring within the broad natural resources industry.

Chain Bridge I (CBRGU) Prices $200M IPO

Nov 9, 2021 IPOs by Marlena Haddad

Chain Bridge I announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CBRGU” Wednesday, November 10.

The new SPAC intends to focus its efforts on identifying a prospective target company possessing emerging, innovative technology that can help the U.S.