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It’s Getting Hard Out There for a SPAC

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It’s Getting Hard Out There for a SPAC

The combination of election uncertainty, market indigestion and maybe a little of bit of Halloween spookery has generated a difficult market for SPACs in the past several weeks. Fourteen SPACs listed over the past week (on or after 10/22), and only five finished trading above $10 today, with several breaking their IPO price almost immediately.
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Spartan Energy Acquisition Corp. (SPAQ) Shareholders Approve Fisker Deal

Spartan Energy Acquisition Corp. (NYSE:SPAQ) announced in a filing this afternoon that its shareholders have approved its business combination with electric vehicle (EV) maker Fisker Technologies. About 58.35% of outstanding shares participated in the vote and all proposals passed by wide margins at the special meeting earlier today, October 28. Shareholders redeemed 2,004,297 shares, however,
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Alberton Acquisition Corp. (ALAC) to Combine with SolarMax Technology

Alberton Acquisition Corp. (NASDAQ:ALAC) announced this morning that it has entered into a merger agreement with SolarMax Technology. SolarMax is a manufacturer and installer of solar panels for residential and commercial customers, with panels assembled at its 165,000-square foot facility in Riversdale, California and installed at over 12,000 residential properties thus far. Transaction Overview SolarMax
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Andina Acquisition Corp. III (ANDA) Postpones Extension Vote

Andina Acquisition Corp. III (NASDAQ:ANDA) announced this morning that it would adjourn a special meeting of shareholders this morning without voting on an extension of the company’s transaction deadline. The company’s current deadline to complete a transaction is Saturday, October 31. Andina has not yet set a new time and date for the postponed meeting,
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Conyers Park II Acquisition Corp. (CPAA) Shareholders Approve Advantage Solutions Deal

Conyers Park II Acquisition Corp. (NASDAQ:CPAA) announced in a filing last night that its shareholders have voted to approve its business combination with Advantage Solutions. At a special meeting October 27 shareholders approved the transaction and a series of other proposals relating governance and the deal’s close with about 82% of outstanding shares taking part.
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dMY Technology Group Inc. II (DMYD) to Combine with Genius Sports in $1.5Bn Deal

dMY Technology Group Inc. II (NYSE:DMYD) announced this morning that it has entered into a definitive business combination agreement with data provider Genius Sports Group Limited in a deal giving it an implied enterprise value of $1.5 billion. London-based Genius Sports supplies sports betting operators with official data and streaming media services and is partnered
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GigCapital2 & Bolder Industries Sign Non-Binding LOI

Oct 27, 2020 INTEL by Matt Cianci
Building on our report from yesterday, GigCapital2 Inc. (NYSE:GIX) has released more information this morning on having signed an exclusive LOI with Bolder Industries, a sustainable rubber ingredient-maker, to be valued at an initial enterprise value of $880M. The announcement comes less than two months from GigCapital2’s deadline for a business combination – December 20,
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Alberton Acquisition Corp. (ALAC) Shareholders Approve Extension

Alberton Acquisition Corp. (NASDAQ:ARYB) announced in an 8-K filing that its shareholders had voted overwhelmingly to approve an extension of the SPAC’s transaction deadline from October 26 to April 26, 2021. With 4,368,534 (94.6%) shares participating in the special meeting held this morning, just 100 voted against with 1 abstention. More importantly, Alberton had minimal
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GigCapital2 Reportedly Signs LOI with Bolder Industries

GigCapital2 Inc. (NYSE:GIX) has reportedly signed a letter of intent to combine with sustainable rubber ingredient-maker Bolder Industries, according to Reuters. Bolder would be outside of the initial area of focus for GigCapital2, which declared at the time of its IPO that it would seek out TMT targets with artificial intelligence, autonomous platforms or data-enabled
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