Lakeshore Acquisition I Corp. (NASDAQ:LAAA) announced in an 8-K filing this morning that it has added $8.2 million in additional financing to its deal with medical device company ProSomnus.
The investment comes in exchange for 820,000 shares, but investors will also receive 619,932 additional shares so that they are effectively buying in at $5.69 per share.
...READ MORE
InterPrivate II Acquisition Corp. (NYSE:IPVA) announced this morning that it has entered into a non-redemption agreement with the Magnetar Funds in connection to its proposed merger with carsharing marketplace Getaround.
Pursuant to the agreement, each non-redeeming stockholder agreed that it will not redeem an amount of shares of Class A Common Stock up to an aggregate of 1,550,000 shares.
...READ MORE
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Periphas Capital Partnering Corp. (NYSE: PCPC) announced this afternoon that it has decided to liquidate its trust instead of extending its timeline to find a business combination.
The SPAC’s Board has determined that the company will not be able to negotiate a letter of intent, agreement in principle or definitive agreement for the potential partnering transaction.
...READ MORE
Empowerment & Inclusion Capital I Corp. (NYSE: EPWR) announced this afternoon that it will liquidate its trust due to its inability to complete a business combination.
The company expects its public shares to stop trading on the NYSE as of the close of business on December 13.
...READ MORE
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Faraday Future (NASDAQ:FFIE), the troubled EV startup-turned-publicly-traded company, has shuffled its executive ranks once again.
...READ MORE
Hudson Executive II (NASDAQ:HCII) and Hudson Executive III (NASDAQ:HIII) announced this morning that both will liquidate as neither will consummate a business combination by their original deadline.
Both will return $10.10 per share to public investors as the anticipated redemption rate with the distribution expected to occur on December 21.
...READ MORE
The current trends of rising interest rates and inflationary cost increases, among other things, have imposed downward pressures on publicly traded equity prices, especially for businesses that became publicly traded via a de-SPAC merger.
...READ MORE
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Virgin Galactic Holdings Inc.
...READ MORE
PMV Consumer (OTC PINK:PMVC) announced that it is redeeming all non-insider public shares for approximately $10.09 per share, but it will not be dissolving just yet.
The SPAC is set to provide written redemption notices to each shareholder and trust proceeds are to be distributed within 30 days of these notices.
...READ MORE
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Digital World (NASDAQ:DWAC) announced late Wednesday that its shareholders have approved amending its charter to allow for automatic three-month extensions of its transaction deadline until September 8, 2023.
This brings to close a long drama during which Digital World adjourned the vote without concluding business six times at different meetings in September, October and November.
...READ MORE
Venus Acquisition Corp. (NASDAQ:VENA) announced this afternoon that it has secured an investor for a backstop agreement in connection to its business combination with VIYI Algorithm.
Venus and its sponsor, Yolanda Management Corporation, entered into a backstop agreement with Joyous JD Limited to purchase VENA shares from third parties through a broker in the open market, or through privately negotiated transactions, including from SPAC shareholders that had elected to redeem shares.
...READ MORE
SPACs and the use of projections have gotten a fair amount of attention this year from both the media and the SEC. And the pending SEC SPAC Rule could have an additional effect on how bankers and SPAC teams handle projections in the future.
...READ MORE
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Cilo Cybin Holdings Ltd.,
...READ MORE
ACE Convergence (NASDAQ:ACEV) announced this morning that its shareholders have approved its business combination with electronics manufacturer Tempo during a special meeting held on November 17.
The SPAC did not disclose redemption amounts, but shares of ACEV traded above its trust value of $10 throughout its redemption deadline November 15.
...READ MORE
Metals Acquisition Corp. (NYSE:MTAL) announced that it has made a series of amendments to its combination the Glencore’s (LON:GLEN) CSA Copper Mine, shifting some portions of the compensation to contingencies based on commodity prices.
...READ MORE
OceanTech I (NASDAQ:OTEC) has postponed an extension vote scheduled for later today after receiving high redemption notices.
Shareholders requested to redeem a total of 9,449,599 shares, representing 91.5% of its shares outstanding.
...READ MORE