Seaport Global Acquisition Corp (SGAM) Secures Backstop Financing

Oct 12, 2021 INTEL by Kristi Marvin

Seaport Global (NASDAQ:SGAM) announced this morning that it has added a $36 million backstop to its business combination with Redbox. The SPAC noted that the agreements will ensure that “the cash proceeds available to SGAC as of closing equal or exceed the minimum cash condition under the Business Combination Agreement“. The SPAC has about $145.2
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Big Cypress (BCYP) Arranges Forward Purchase/Backstop Agreement

Oct 12, 2021 INTEL by Kristi Marvin

Big Cypress Acquisition Corp (Nasdaq: BCYP) announced this morning that they have entered into a Forward Purchase Agreement (“FPA”) with Radcliffe SPAC Master Fund, L.P. (“Radcliffe”), in an effort to secure their completion shareholder vote. Big Cypress is scheduled to hold their combination vote with SAB Biotherapeutics on October 20th. As part of the FPA,
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Gesher I Acquisition Corp. (GIACU) Prices $100M IPO

Oct 12, 2021 IPOs by Marlena Haddad

Gesher I Acquisition Corp. announced the pricing of its $100 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “GIACU” Tuesday, October 12.

Dune Acquisition Corporation (DUNE) to Combine with TradeZero in $556M Deal

Oct 12, 2021 INTEL by Nicholas Alan Clayton

Dune (NASDAQ:DUNE) has entered into a definitive agreement to combine with equities trading platform TradeZero at an enterprise value of $556 million, or 4.9x its 2022E revenue. New York City-based TradeZero provides a digital equity trading and investment platform targeted at professional day traders. The combined company is expected to trade on the Nasdaq under
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The Latest SPAC News and Rumors: October 11, 2021

Oct 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: Former climate change secretary Amber Rudd joins Energy1, BowX announces listing transfer to NYSE, and Gogoro launches battery swapping in China

Former Climate Change Secretary Rudd to Join London-listed SPAC

Sky News reported that Amber Rudd, who served as secretary of state for energy and climate change between May 2015 and July 2016, is to become an adviser to Energy1, one of a hotly anticipated wave of new UK SPACs.

SPAC IPO Terms Tracker: A Slightly Busier Start to the Quarter

Oct 10, 2021 INTEL by sam.beattie

Terms Tracker for the Week Ending Oct. 8, 2021 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. For the first week of October, we saw 12 new S-1 registration statements and 11 IPOs, both being two more than what we saw last
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RedBall Acquisition Corp. (RBAC) Confirms SeatGeek Deal Talks

Oct 8, 2021 INTEL by Nicholas Alan Clayton

RedBall Acquisition Corp. (NYSE:RBAC) confirmed in a statement this afternoon that it is in “exclusive discussions” with ticket marketplace SeatGeek “in connection with a possible business combination” following a Bloomberg report claiming a deal is near. The SPAC pumped the breaks on that slightly, noting that there is “no assurance that a definitive agreement will
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Learn CW Investment Corp. (LCW.U) Prices $200M IPO

Oct 8, 2021 IPOs by Marlena Haddad

Learn CW Investment Corp. announced the pricing of its $200 million IPO and its units are expected to begin trading on the New York Stock Exchange under the symbol “LCW.U”

The Latest SPAC News and Rumors: October 8, 2021

Oct 8, 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: WeWork sales hit monthly high for 2021; Babylon secures $200m sustainability investment

WeWork Sales Hit Monthly High for 2021 in September

WeWork Cos.

Hawks Acquisition Corp. (HWKZ.U) Prices $200M IPO

Oct 8, 2021 IPOs by Marlena Haddad

Hawks Acquisition Corp. announced the pricing of its $200 million IPO and its units are expected to begin trading on the New York Stock Exchange under the symbol “HWKZ.U” Friday, October 8.

Top 3 SPAC Targets – Micromobility

Oct 8, 2021 INTEL by Nicholas Alan Clayton

SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among the micromobility targets. We look at why they are compelling and why each could be a fit for a blank-check merger.

Schultze Special Purpose Acquisition Corp. II (SAMAU) Prices $150M IPO

Oct 7, 2021 IPOs by Marlena Haddad

Schultze Special Purpose Acquisition Corp. II announced the pricing of its $150 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “SAMAU” Friday, October 8.

Maxpro Capital Acquisition Corp. (JMACU) Prices $90M IPO

Oct 7, 2021 IPOs by Marlena Haddad

Maxpro Capital Acquisition Corp. announced the pricing of its $90 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “JMACU” Friday, October 8.

The Company intends to focus on industries that complement its management team’s background and to capitalize on the ability of the management team to identify and acquire a business where the management team has extensive experience.

The Latest SPAC News and Rumors: October 7, 2021

Oct 7, 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: Betsy Cohen predicts about 30% of SPACs will bust, Ginkgo caught in short-seller selloff, and Sonder expands into France

Betsy Cohen Predicts About a Third of SPACs Will Bust

Blank-check sponsor Betsy Cohen said about 30% of all SPACs in the market will fail, in an interview on Wednesday at the Bloomberg Invest Global conference.

Live Oak II (LOKB) Secures Additional PIPE & Backstop

Oct 7, 2021 INTEL by Kristi Marvin

Ahead of their October 12th shareholder vote to combine with Navitas Semiconductor, Live Oak II (NYSE: LOKB) announced this morning that they have secured an additional $18 million in PIPE financing along with a backstop via a Forward Purchase Agreement (FPA). The additional subscription agreement involves two additional subscribers for 1,800,000 shares of LOKB Class
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FirstMark Horizon Acquisition Corp. (FMAC) to Combine with Starry in $1.6Bn Deal

Oct 7, 2021 INTEL by Nicholas Alan Clayton

FirstMark Horizon (NYSE:FMAC) has entered into a definitive agreement to combine with internet service provider (ISP) Starry at an enterprise value of $1.66 billion, or 6.9x its 2025E adjusted EBITDA. Boston-based Starry provides wireless internet to consumers at gigabit speeds using narrow-wave technology. The combined company is expected to trade on under the symbol “STRY”
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IX Acquisition Corp. (IXAQU) Prices $200M IPO

Oct 7, 2021 IPOs by Marlena Haddad

IX Acquisition Corp. announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “IXAQU” Thursday, October 7.

The Company intends to focus on targets in the telecommunications infrastructure, internet and technology and digital services sectors that are subject to low currency risks and earn a significant share of their revenues in a major global currency.

Industrial Tech Acquisitions, Inc. (ITAC) Shareholders Approve Arbe Robotics Deal

Oct 6, 2021 INTEL by Marlena Haddad

Industrial Tech Acquisitions, Inc. (NASDAQ:ITAC) secured shareholder approval of its combination with radar technology firm Arbe Robotics in a meeting held yesterday. The press release reported that Arbe will receive $118 million in gross proceeds from the deal comprised of just $18 million of cash following ITAC’s redemptions, which implies redemptions of approximately 75% of
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LifeSci Acquisition II Corp. (LSAQ) Shareholders Approve Science 37 Deal

Oct 6, 2021 INTEL by Marlena Haddad

LifeSci Acquisition II Corp. (NASDAQ:LSAQ) announced in an 8-K filing today that it secured shareholder approval of its combination with software firm Science 37 in a special meeting held on Monday, October 4. The filing did not disclose redemption numbers, but LSAQ traded below $10 throughout its redemption deadline September 30, and opened today at $8.83.
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Legislation, Regulation, and the Retail Investor

Oct 6, 2021 INTEL by Kristi Marvin

There has been much discussion this year about “protecting the retail investor”. In an effort to better understand how retail thinks about the SPAC asset class, we took a survey, which you can find at the bottom of this article.