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The Latest SPAC News and Rumors: October 7, 2022

Oct 7, 2022 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: Polestar warns of slow recovery from lockdown, CVS in exclusive talks to buy Cano Health, and Slack’s backers warn SCOTUS of hit to capital markets from direct listing case

Polestar Warns Slow Recovery From Lockdown Dragged on Results

Polestar Automotive Holding (NASDAQ:PSNY) said supply issues that lingered after China’s Covid lockdowns earlier this year will weigh on results the electric-car maker is releasing next month, though it’s sticking with its full-year deliveries target.

ClimateRock (CLRC) to Combine with EEW Eco Energy in $650M Deal

Oct 7, 2022 Deal Announcements & Amendments by Nicholas Alan Clayton

ClimateRock (NASDAQ:CLRC) has entered into a definitive agreement to combine with solar plant developer EEW at a proposed equity value of $650 million.

London-based EEW designs and sells solar utility-scale solar power plants in Europe, Africa, Australia, and the US.

TOP-3

Top 3 SPAC Targets – Consumer/Retail

Oct 7, 2022 Headline Post, INTEL by Nicholas Alan Clayton

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

Chardan NextTech 2 (CNTQ) Shareholders Approve Dragonfly Energy Deal

Oct 6, 2022 De-SPAC Votes and Redemptions by Marlena Haddad

Chardan NextTech Acquisition 2 Corp. (NASDAQ:CNTQ) announced in a press release this afternoon that its shareholders approved its combination with energy storage firm Dragonfly Energy at a special meeting held earlier today.

latest-news

The Latest SPAC News and Rumors: October 6, 2022

Oct 6, 2022 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: Former Rusal chief launches London’s first mining SPAC, LanzaTech partners with Northwestern, Yale and NREL to establish new biology center, and Jupiter Wellness initiates clinical trial for new treatment for tinnitus

Former Rusal chief launches London’s first mining SPAC

One of the most prominent Anglo-Russian executives in the metals industry is seeking to raise $125mn for a new mining venture through a London-listed special purpose acquisition company.

Digital Transformation Opportunities (DTOC) to Combine with American Oncology Network

Oct 6, 2022 Deal Announcements & Amendments by Nicholas Alan Clayton

Digital Transformation (NASDAQ:DTOC) has entered into a definitive agreement to combine with physician group the American Oncology Network (AON) at an enterprise value of $497 million, or 13.8x its Q2 2022 EBITDA run rate. The Fort Myers, Florida-based company has gathered together a network of independent oncology practices in 18 states. The combined company is
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Podcast: Gastón Paladini, Co-founder & CEO of Moolec Science

Oct 6, 2022 Podcasts & Webinars by Kristi Marvin

We all know you can make alternative meats out of plants, but what about growing meat from plants? This week, we speak with Gastón Paladini, Co-founder and CEO of Moolec Science, which announced a $504 million dollar combination with LightJump Acquisition Corp.

Alert-2

Altitude Acquisition Corp. (ALTU) Increases Non-Redemption Agreement to Cover $15M

Oct 6, 2022 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

Altitude Acquisition Corp. (NASDAQ:ALTU) announced in an 8-K this morning that it has expanded its non-redemption agreement to cover about $15 million worth of shares.

A new shareholder has agreed to not to redeem 223,124 shares in connection with the today’s vote to extend the SPAC’s transaction deadline from October 11, to April 11, 2023.

latest liquidations

Avanti Acquisition Corp. (AVAN) to Liquidate Trust

Oct 6, 2022 INTEL by Nicholas Alan Clayton

Avanti Acquisition Corp. (NYSE:AVAN) announced this morning that it will not consummate a business combination and will instead liquidate its trust.

October 6 is to be the last day Avanti trades on the public markets and shareholders are to receive the pro rata trust amount of $10.06 per share over the next 10 days.

Athena Consumer (ACAQ) Adds FPA to e.GO Deal

Oct 5, 2022 Deal Announcements & Amendments, INTEL by Marlena Haddad

Athena Consumer (NYSE:ACAQ) announced this afternoon that it has entered into a forward purchase agreement (FPA) to help secure its combination with EV-maker e.GO.

The FPA announcement comes days after Athena added $15 million in bridge financing to its deal with e.GO. Brucke

Chardan NextTech 2 (CNTQ) Pre-Announces Redemptions

Oct 5, 2022 De-SPAC Votes and Redemptions by Marlena Haddad

Chardan NextTech Acquisition 2 Corp. (NASDAQ:CNTQ) announced this afternoon that it has received requests to redeem 79.4% of its shares ahead of its shareholder vote tomorrow for its combination with energy storage firm Dragonfly Energy.

Goldenstone (GDST) Terminates Roxe Holding Deal

Oct 5, 2022 INTEL by Marlena Haddad

Goldenstone Acquisition Limited (NASDAQ:GDST) announced this afternoon that it has entered into a joint agreement to terminate its combination with blockchain-based payments company, Roxe.

Goldenstone’s 8-K kept the details to a minimum, but it did disclose that the termination was mutual.

new-spac

New SPAC: Plutonian Acquisition Corp. Files for $50M IPO

Oct 5, 2022 INTEL, New S-1 Filings by Marlena Haddad

Following a quiet few weeks with no new S-1 registration statements, Plutonian Acquisition Corp. filed its S-1 this morning for a $50 million IPO as the first SPAC to file for an IPO in October thus far. Although Plutonian isn’t limited to a particular industry for consummating a business combination, the SPAC intends to focus its
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The Latest SPAC News and Rumors: October 5, 2022

Oct 5, 2022 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: Trump-tied SPAC, Rumble show power of hardcore followers, but DWAC slides after Elon Musk revives Twitter deal; Everton FC draws takeover interest from Soros nephew’s SPAC

Trump-Tied SPAC, Rumble Show Power of Hardcore Followers

Legions of followers betting on conservative social-media platforms have helped stocks like Rumble Inc.

Aesther Healthcare (AEHA) Boosts Backstop to $80M

Oct 5, 2022 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

Aesther Healthcare (NASDAQ:AEHA) announced this morning that it has added $40 million to its backstop for the SPAC’s pending combination with Ocean Biomedical, bringing it to $80 million in total.

Meteora Capital Partners funds made the commitment to purchase 4,000,000 Aesther shares on the open market at prices no higher than the redemption price and Meteora has agreed not to redeem these shares or vote them in favor of the combination.

latest liquidations

Tekkorp Digital (TEKKU) to Liquidate Trust

Oct 4, 2022 INTEL by Marlena Haddad

Tekkorp Digital Acquisition Corp. (NASDAQ:TEKKU) announced in a press release this afternoon that it will no longer pursue an extension for a business combination and will instead liquidate its trust.

Since TEKK’s $250 million IPO in October 2020, the SPAC’s management team has attempted to search for potential targets, but was unable to secure an opportunity that met its criteria.

latest-news

The Latest SPAC News and Rumors: October 4, 2022

Oct 4, 2022 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: Redwire back on acquisition trail with deal for QinetiQ Space and Footprint showcases development of plant-based recyclable packaging for Gillette

Redwire back on acquisition trail with deal for QinetiQ Space

British defense firm QinetiQ is selling its Belgian commercial satellite systems division to Redwire, a U.S.-based

Pathfinder Acquisition Corporation (PFDR) to Combine with Movella in $537M Deal

Oct 4, 2022 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

Pathfinder (NASDAQ:PFDR) has entered into a definitive agreement to combine with motion-capture technology firm Movella at an enterprise value of $537 million, or 13.4x its 2022E revenue. San Jose, California-based Movella provides motion-capture hardware and software for the entertainment, health and manufacturing industries. The combined company is expected to trade on the Nasdaq once the
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Teaser

Altitude Acquisition Corp. (ALTU) Teases $480 Million Deal

Oct 4, 2022 Deal Announcements & Amendments, INTEL by Marlena Haddad

Altitude Acquisition Corp. (NASDAQ:ALTU) announced this morning that it has entered into negotiations to combine with a global medical device manufacturer that would value the deal at $480 million.

The potential target remains unnamed, but Altitude did disclose that the company is a leader in the medical device field and has a product that is commercially available and approved for use in over 30 countries.

latest liquidations

Atlantic Avenue (ASAQ) to Liquidate, Cancels Extension Meeting

Oct 4, 2022 INTEL by Nicholas Alan Clayton

Atlantic Avenue (NYSE:ASAQ) has announced that it will cancel its special meeting scheduled for 10 am this morning to extend its transaction deadline and will instead liquidate, redeeming all shares at $10.03 per share.

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