Riverview Acquisition Corp. (NASDAQ:RVAC) has entered into a definitive agreement to combine with coffee and tea supplier Westrock Coffee Company at an enterprise value of $1.086 billion, or 14.5x its projected 2022 adj. EBITDA. Little Rock, Arkansas-based Westrock Coffee supplies innovative coffee, tea, flavors, extracts, and ingredients products to retail, food service and restaurant, convenience
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Virgin Group II (NYSE:VGII) announced it has added a $50 million backstop to its combination with sustainable home goods-maker Grove Collective.
Grove has also agreed to waive its minimum cash condition in exchange for the new agreements and Virgin Group II’s promote shares are no longer to be subject to earn-out terms.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Shares of the blank-check firm bringing Donald Trump’s media venture public are sinking with daily downloads for the former president’s social media app declining 95% since launching last month.
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SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among companies set to see increased demand among companies that could see high demand in a time of rising food prices and scarcity.
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Helix Acquisition Corp. (NASDAQ:HLXA) announced this afternoon that its shareholders have voted to approve its combination with biotech firm Moonlake.
At today’s special meeting, a total of 12,048,085, or approximately 81%, of Helix’s issued and outstanding ordinary shares were present.
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Metal Sky Star Acquisition Corp. priced its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “MSSAU” Friday, April 1.
The new SPAC intends to acquire one or more growth businesses with a total enterprise value of between $300 million and $600 million.
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Poema Global (NASDAQ:PPGH) announced this afternoon that its shareholders have voted to approve its combination with two-wheeled EV battery charging network Gogoro.
The SPAC announced yesterday morning that it expected to close its combination, but shareholders still have until 5 pm ET tomorrow, April 1 to withdraw their redemption decisions.
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This afternoon, SCVX Corp. III (Nasdaq: SCVX), filed an 8-K announcing that they have terminated their previously announced non-binding LOI.
While not much was known about the company with which it had been negotiating (it was unnamed), it was disclosed that its focus was in the Environmental, Social, and Governance (ESG) space.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) announced that the Company has reached a definitive merger agreement to acquire Pittsburgh-based RE2, Inc.
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Redwoods Acquisition Corp. priced its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RWODU” Thursday, March 31.
The new SPAC intends to focus on the carbon neutral and energy storage industries with an enterprise value of approximately $250 million to $1 billion.
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In today’s much anticipated SEC Open Meeting to discuss SPACs, one of the SEC commissioners, Hester Peirce, who came out against today’s proposed changes, inexplicably lost her internet connection as soon as she had a chance to speak and weigh in.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
SPAC sponsors who embellish projections about the companies they plan to take public face a new threat in a plan from the U.S.
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Queen’s Gambit Growth Capital (NASDAQ:GMBT) announced this morning that its shareholders have voted to approve its combination with mobility tech firm Swvl.
The SPAC announced its redemption results in a press release yesterday stating that 29,227,806 shares were redeemed, or approximately 84.72%, for a pro rata portion of the funds in the trust account.
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