Nocturne Acquisition Corp. (NASDAQ:MBTC) has entered into a definitive agreement to combine with medical technology company Cognos Therapeutics at an enterprise value of $120 million. Inglewood, California-based Cognos Therapeutics is a medical device company that develops diagnostic and drug delivery devices designed to detect diseases. The parties expect to close the deal in the second or third
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Below is a summary of the 2022 SPAC market.
By all counts, the number of SPAC IPOs in 2021, at 613, was a high water mark not likely to be seen again in future years.
Marlin Technology Corporation (Nasdaq: FINM) today announced that it will redeem all of its outstanding Class A ordinary shares, effective as of the close of business on January 17, 2023.
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Dune Acquisition Corporation (NASDAQ: DUNE) announced in an 8-K this afternoon that it has settled its lawsuit with equities trading platform TradeZero and mutually terminated its combination agreement.
As a refresher, Dune launched a lawsuit against its combination partner TradeZero in April 2022 claiming that its target, “fraudulently induced” it into entering the merger and “materially breached” that agreement, causing “irreparable injury” to the SPAC.
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AlphaTime Acquisition Corp. priced its $60 million IPO and its units began trading on the Nasdaq under the symbol “ATMCU” Friday, December 30, 2022.
The new SPAC intends to acquire businesses in Asia that have the potential to generate strong, stable, and increasing free cash flow, particularly businesses with predictable revenue streams and definable low working capital. AlphaTime
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
NWTN Inc.
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CENAQ Energy Corp. (NASDAQ:CENQ) in an 8-K filing gave an update this morning that its investors have not yet been able to raise the full $80 million PIPE that was initially intended at its deal announcement.
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Northern Star Investment Corp. II (NYSE:NSTB) and Pivotal Investment Corp. III (NYSE:PICC) both announced in morning filings that they have signed non-redemption agreements with shareholders in connection with their extension votes.
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MDH Acquisition Corp. (NYSE: MDH) announced that in accordance with the announced December 29, 2022 termination date set by its Board of Directors, the company expects to redeem all outstanding public shares by December 29, 2022.
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Fortune Rise Acquisition Corp. (NASDAQ: FRLA) announced this afternoon that it has entered into a membership interest purchase and transfer agreement resulting in a change in leadership.
On December 22, FRLA’s sponsor, Fortune Rise Sponsor LLC, entered into a purchase agreement with water fintech startup Water On Demand, Inc.
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2022 was the year of the SPAC steeplechase. Just when SPACs thought they had cleared one hurdle, they would turn the corner and find they needed to jump a new and deeper moat.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
When the market was booming, tech investors poured billions into companies designing new ways of farming.
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Mount Rainier Acquisition Corp (NASDAQ:RNER) announced in an 8-K this morning that it is pushing its vote to complete its combination with HUB Cyber Security that was originally scheduled for December 30.
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Northern Star Investment Corp. II (NYSE:NSTB) and Pivotal Investment Corp. III (NYSE:PICC) both announced this afternoon that their extension votes have once again been adjourned.
NSTB and PICC originally scheduled their meetings for December 22 when the pair decided to postpone the votes to today, December 28, to further engage with their stockholders and solicit redemption reversals.
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PHP Ventures Acquisition Corp (NASDAQ:PPHP) announced this morning that it is postponing its special meeting, originally scheduled for today, to December 30.
The SPAC intends to gain shareholder approval to extend its business combination timeline from February 16, 2023 to August 16, 2023.
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LightJump Acquisition Corp. (NASDAQ:LJAQ) announced this morning that its shareholders approved its combination with molecular food producer Moolec at a special meeting yesterday.
Although about 92% of shares voted in favor of the transaction, 2,716,176 also opted to redeem and leaves it temporarily with a public float of 51,034 shares.
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SPK Acquisition Corp. (NASDAQ:SPK) announced in an 8-K this morning that it has terminated its combination agreement with Varian Bio and will instead liquidate on December 29.
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This morning the treasury department finally issued guidance around the issue of share buybacks, which has been haunting the capital markets since August when the 1% excise tax was first introduced.
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