The Latest SPAC News and Rumors: April 20, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Software Acquisition Group III (SWAG) Adds $60M PIPE to Nogin Deal
Software Acquisition Group III (NASDAQ:SWAG) has added $60 million in convertible note financing to its combination with cloud software firm Nogin, which will cover the transaction’s $50 million minimum cash condition.
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Podcast: D-Wave CEO Alan Baratz & DPCM Capital’s Chairman and CEO Emil Michael
This week, we will be speaking with Alan Baratz, CEO of D-Wave, and DPCM Capital Chairman and CEO Emil Michael.
D-Wave has developed quantum computing machines that are already powering cloud-based applications to solve business problems today.
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Oaktree II (OACB) Adds Backstops of Up to $250M to Alvotech Deal
Oaktree Acquisition Corp. II (NYSE:OACB) has added up to $250 million to its combination with biosimilar drugmaker Alvotech through two facilities to replace potential redemptions.
The backstops are made up of an $150 million standby equity purchase agreement (SEPA) from YA II PN, an affiliate of Oaktree II’s sponsor, and a binding term sheet providing $75 million to $125 million in debt from Sculptor Capital Management.
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Yotta Acquisition Corp. (YOTAU) Prices $100M IPO
Yotta Acquisition Corp. priced its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “YOTAU” Wednesday, April 20, 2022.
The new SPAC intends to focus on high technology, blockchain, software and hardware, e-commerce, social media, and other general business industries globally.
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BRC (BRCC) Announces Redemption Fair Market Value of Warrants
BRC Inc. (NYSE:BRCC) announced this afternoon that it will be calling for a “redemption fair market value” for its previously announced redemption of outstanding warrants to determine the number of shares that will be issued on a cashless exercise.
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Tuatara Capital (TCAC) Re-Strikes Springbig Deal
Tuatara Capital Acquisition Corp. (NASDAQ:TCAC) announced this afternoon it has made several changes to its transaction with cannabis marketing software company springbig. The amendments covered a range of agreements including the equity value, the issuance of TCAC common stock, the earnout period, and the sponsor letter agreement. The $300 million deal originally had an impliedRead More
The Latest SPAC News and Rumors: April 19, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Billionaire Francois Pinault and partners set to buy Deezer in $1.1B deal, Singapore SPACs draw investor interest, and Lilium hit with investor lawsuit
Billionaire Francois Pinault and Partners Are Set to Buy Deezer in a $1.1 Billion Deal
Billionaire Francois Pinault and the other founders of a blank-check firm are buying music-streaming platform Deezer in a deal valued at more than $1 billion.
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Bull Horn Holdings (BHSE) to Combine with Coeptis Therapeutics
Bull Horn (NASDAQ:BHSE) has entered into a definitive agreement to combine with biopharmaceutical company Coeptis (OTC:COEP). Wexford, Pennsylvania-based Coeptis is developing a pair of therapies designed to improve the efficacy of cancer treatments. The combined company is expected to trade under the symbol “COEP” once the deal is completed in the third quarter of 2022.Read More
Gesher I Acquisition Corp. (GIAC) Adds $10M Backstop
Gesher I Acquisition Corporation (NASDAQ:GIAC) announced this morning that it has proactively received another $10 million backstop, just weeks after adding adding an initial $10 million backstop and tweaking its forward-purchase agreement (FPA).
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The Latest SPAC News and Rumors: April 18, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: New SPAC ETF plots Wall Street launch, Singapore SPAC plans merger with EUDA Health, and SeatGeek announces record fourth quarter
New SPAC ETF Plots Wall Street Launch Even as the Market Craters
A new exchange-traded fund is on the way looking to tap the once red-hot SPAC market, even as investor enthusiasm for blank-check firms sputters and existing products stumble.
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Dune Acquisition Corporation (DUNE) Files Lawsuit Against Its Target, TradeZero
Dune (NASDAQ:DUNE) announced this morning that it has filed a lawsuit in Delaware court alleging that its combination target TradeZero “fraudulently induced” it into entering the merger and has “materially breached” that agreement, causing “irreparable injury” to Dune.
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East Stone (ESSC) Terminates JHD Deal, Now to Combine with ICONIQ
East Stone (NASDAQ:ESSC) has terminated its earlier announced combination with JHD holdings and entered into a definitive agreement to combine with EV-maker ICONIQ at a post-money value of $2.5 billion. The Chinese ICONIQ electric car brand is now headquartered in Dubai, with four vehicle models under development. Transaction Overview East Stone brings an estimated $33.5Read More
SPAC IPO Terms Tracker: Shortened Week Heading into the Holiday
Terms Tracker for the Week Ending April 15th, 2022 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. For the shortened week leading up to Easter and Passover, we saw four new S-1 registration statements, four more than last week, and just oneRead More
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CHP Merger Corp. (CHPM) Terminates Agreement and Opts to Liquidate
CHP Merger Corp. (NASDAQ:CHPM) announced this afternoon that it has mutually terminated its business combination agreement with medical technology company, Accelus, and will opt to liquidate its trust as of April 25, 2022.
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Archimedes Tech SPAC Partners (ATSPT) Adds $2M PIPE to SoundHound Deal
Archimedes Tech SPAC Partners Co. (NASDAQ:ATSPT) has added $2 million to their PIPE for its combination with voice AI firm SoundHound, bringing the deal’s total PIPE proceeds to $113 million.
The SPAC entered into a subscription agreement with an accredited investor on April 9, to which the new subscriber agreed to purchase 200,000 shares of Class A Common Stock of Archimedes, at a purchase price of $10.00 per share.
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The Latest SPAC News and Rumors: April 14, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Spotify rival Deezer nears deal to go public, D-Orbit enters agreement with Beyond Gravity, and PropertyGuru beats adjusted EBITDA forecast
Deezer Negotiates Public Listing via Merger with French SPAC
French music streaming service Deezer is nearing a deal to go public by merging with I2PO, a SPAC backed by the family behind luxury titan Kering SA, according to The Wall Street Journal, as consumer demand for music continues to grow.
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Alberton (ALAC) Announces SolarMax Intends to Terminate Agreement
Alberton (NASDAQ:ALAC) announced this morning that SolarMax, Alberton’s target company, intends to terminate its definitive agreement at the Outside Date of April 26, 2022, stating that it does not believe the transaction will be completed by that deadline.
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The Latest SPAC News and Rumors: April 13, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Malaysia’s Hibiscus considers Singapore SPAC listing, Bridgestone partners with LanzaTech, and Credit Suisse forms new committee to review SPAC deals
Malaysia’s Hibiscus Explores Singapore SPAC Listing
Hibiscus Petroleum Bhd.
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Podcast: Brivo CEO Steve Van Till & Crown PropTech CEO Ricky Chera
This week, we speak with Steve Van Till, CEO of Brivo, and Crown PropTech Acquisitions CEO Ricky Chera.
Brivo entered into an $808 million combination agreement with Crown PropTech Acquisitions (NYSE:CPTK) in November.
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