Oaktree Acquisition Corp. II (OACB) to Combine with Alvotech in $2.25Bn Deal

Dec 7, 2021 INTEL by Nicholas Alan Clayton

Oaktree II (NYSE:OACB) has entered into a definitive agreement to combine with biopharma company Alvotech at an enterprise value of $2.25 billion, or 4.6x its 2025E EBITDA. Reykjavik, Iceland-based Alvotech is developing medicines that are biosimilar to branded pharmaceuticals on the market, potentially providing them to the market at lower prices. The combined company is
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APx Acquisition Corp. I (APXIU) Prices $150M IPO

Dec 7, 2021 IPOs by Marlena Haddad

APx Acquisition Corp. I announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “APIXU” Tuesday, December 7.

The new SPAC intends to focus its search for target businesses in Mexico, Spanish-speaking Latin America, and Hispanic businesses in the United States, while prioritizing companies with significant technological advantages and strong fundamentals.

Motive Capital Corp. II (MTVC.U) Prices Upsized $300M IPO

Dec 6, 2021 IPOs by Marlena Haddad

Motive Capital Corp. II announced the pricing of its upsized $300 million IPO and its units are expected to begin trading on the NYSE under the symbol “MTVC.U” Tuesday, December 7.

Jupiter Wellness Acquisition Corp. (JWACU) Prices Upsized $120M IPO

Dec 6, 2021 IPOs by Marlena Haddad

Jupiter Wellness Acquisition Corp. announced the pricing of its upsized $120 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “JWACU” Tuesday, December 7.

Yucaipa Acquisition Corporation (YAC) Adds Additional $100M to SIGNA Sports Deal

Dec 6, 2021 INTEL by Marlena Haddad

Yucaipa Acquisition Corporation (NYSE:YAC) announced this afternoon that it has secured an additional $100 million for its combination with SIGNA Sports United. This additional funding comes almost two months after Yucaipa signed a backstop agreement, worth up to $178 million, and upsized its PIPE by an additional $70 million. The backstop agreement from October, which
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CBRE Acquisition Holdings (CBAH) Shareholders Approve Altus Power Deal

Dec 6, 2021 INTEL by Marlena Haddad

CBRE Acquisition Holdings, Inc. (NYSE:CBAH) announced this afternoon that its shareholders have approved its combination with renewable energy firm Altus Power in a special meeting held earlier this morning. Approximately 90.3% of the votes cast on the business combination proposal at today’s special meeting were in favor of approving the deal, including 60.4% of the
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Digital World (DWAC) Releases PIPE Details, Updated Investor Presentation

Dec 6, 2021 INTEL by Nicholas Alan Clayton

Digital World (NASDAQ:DWAC) has continued to release information about its combination with Trump Media in dribs and drabs, appending an update to its investor presentation with this morning’s announcement of a $1 billion PIPE. Additional details on the PIPE itself were provided in the 8-K. This will be made up of 1,000,000 shares of preferred
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The Latest SPAC News and Rumors: December 6, 2021

Dec 6, 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: Lucid gets SEC subpoena, Zaoui brothers take BenevolentAI public, and VT5 launches Switzerland’s first SPAC

EV Maker Lucid Gets SEC Subpoena on $24 Bln Blank-Check Deal

The U.S.

Vickers Vantage Corp I (VCKA) Signs LoI with Scilex Holding

Dec 6, 2021 INTEL by Nicholas Alan Clayton

Vickers Vantage I (NASDAQ:VCKA) announced a “teaser” this morning noting that it has signed a letter-of-intent (LOI) to combine with biotech firm Scilex at a proposed equity valuation of $1.5 billion. Scilex is a subsidiary of San Diego, California-based Sorrento Therapeutics (NASDAQ:SRNE) that is working to develop a line of non-opioid pain management products. This
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InvestIndustrial (IIAC) Secures $125M Redemption Offset

Dec 6, 2021 INTEL by Kristi Marvin

InvestIndustrial Acquisition Corp. (NYSE:IIAC) announced this morning that they have secured an up to $125 million Redemption Offset Arrangement ahead of their scheduled shareholder vote to combine with Ermenegildo Zegna Holditalia SpA (“Zegna”) on Wednesday, December 15th. IIAC has an estimated $402.6 million held in trust and had previously announced a $250 million PIPE in
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Pathfinder Acquisition Corporation (PFDR) Terminates ServiceMax Deal

Dec 6, 2021 INTEL by Nicholas Alan Clayton

Pathfinder (NASDAQ:PFDR) announced this morning that it and software firm ServiceMax have mutually terminated their business combination agreement with neither party required to pay breakup fees. The SPAC cited unfavorable market conditions in its brief press released on the termination. The general headwinds to SPACs are not an immediately recent phenomenon, but a variety of macro
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Digital World Acquisition Corp. (DWAC) Adds $1Bn PIPE to Trump Deal

Dec 6, 2021 INTEL by Nicholas Alan Clayton

Digital World (NASDAQ:DWAC) confirmed a month of rumors over the weekend by announcing a $1 billion PIPE to supplement its combination with Trump Media & Technology Group. The SPAC’s press release does not lay out a price-per-share for the move, but noted that it will be set at a 20% discount to the Digital World’s
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dMY Technology Group, Inc. IV (DMYQ) Shareholders Approve Planet Deal

Dec 4, 2021 INTEL by Marlena Haddad

dMY Technology Group, Inc. IV (NYSE:DMYQ) announced late yesterday evening that its shareholders have approved its combination with environmental data provider Planet in a special meeting held Friday morning. The closing of the business combination is expected to take place on December 7, 2021, whereby the company will be renamed “Planet Labs PBC”. Its common
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SPAC IPO Terms Tracker: More of the Same Heading into December

Dec 4, 2021 INTEL by sam.beattie

Terms Tracker for the Week Ending Dec. 3rd, 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 December, we saw six new S-1 registration statements, 12 less than last week, and 12 IPOs twice as many as
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Foresight Acquisition Corp. (FORE) Shareholders Approve P3 Health Partners Deal

Dec 3, 2021 INTEL by Marlena Haddad

Foresight Acquisition Corp. (NASDAQ:FORE) announced this afternoon that its shareholders have approved its combination with healthcare provider P3 in a special meeting held this morning. Although the business combination was overwhelmingly approved, Foresight disclosed that holders of an aggregate of 27,887,684 shares exercised their right to redeem, removing 88.18% of its trust. Just last week,
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GigCapital4, Inc. (GIG) Shareholders Approve BigBear.ai Deal

Dec 3, 2021 INTEL by Marlena Haddad

GigCapital4, Inc. (NASDAQ:GIG) announced that its shareholders have approved its combination with AI technology firm BigBear.ai in a special meeting held this morning. The transaction is expected to close next Tuesday, December 7, and the combined company will operate as BigBear.ai Holdings, Inc. Its shares of common stock and warrants are expected to trade on
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The Latest SPAC News and Rumors: December 3, 2021

Dec 3, 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: VinaCapital weighs Singapore SPAC IPO and Grab slumps more than 20%

Vietnam’s VinaCapital Weighing Singapore SPAC IPO Next Year

VinaCapital, a Vietnamese asset manager, is exploring setting up a blank-check company to list in Singapore next year.

Apollo Strategic Growth Capital (APSG) to Combine with American Express GBT in $5Bn Deal

Dec 3, 2021 INTEL by Nicholas Alan Clayton

Apollo Strategic Growth (NYSE:APSG) has entered into a definitive agreement to combine with American Express Global Business Travel at an enterprise value of $4.98 billion, or 6x its 2021E revenue. New Jersey-based Amex GBT provides a marketplace and loyalty platform for companies providing business travel goods and services hosting $39 billion in total transaction value
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Aldel Financial (ADF) Shareholders Approve Hagerty Deal

Dec 3, 2021 INTEL by Marlena Haddad

Aldel Financial Inc. (NYSE:ADF) announced this morning that its shareholders have approved its combination with car insurer Hagerty in a special meeting held Wednesday. The press release did not disclose redemption figures but noted that the combined company will begin trading on the NYSE today with shares trading under the symbol “HGTY” and warrants “HGTY.WS”.
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Top 3 SPAC Targets – Quantum Computing

Dec 3, 2021 INTEL by Nicholas Alan Clayton

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