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Deal Terms: Tightening for Some, Loosening for a Select Few

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Deal Terms: Tightening for Some, Loosening for a Select Few

Sep 25, 2020 INTEL by Matt Cianci
After experiencing a period where any budding entrepreneur or financier has entertained the idea of joining the no-longer exclusive club of SPAC founders, the market is once again flexing its efficient eye. This morning, we had two different outcomes for SPACs re-filing their S-1’s. Altimeter Growth Corp. (AGCUU) re-filed this morning to bring their units
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Forum Merger II Postpones Meeting Due to Low Voter Turnout

Sep 24, 2020 INTEL by Kristi Marvin
Forum Merger II Corporation (FMCI) In an unprecedented turn of events, Forum Merger II Corporation (FMCI), filed an 8-K and press release this afternoon announcing it convened and then adjourned its meeting, without conducting any other business, to allow for more time for stockholders to vote. The special meeting will now be held at 9:00
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Switchback Energy Acquisition Corp. (SBE) to Combine with ChargePoint in $2.4Bn Deal

Switchback Energy Acquisition Corp. (NYSE:SBE) announced this morning it has signed a definitive business combination agreement with electric vehicle (EV) charging station network ChargePoint, giving the company an implied enterprise value of $2.4 billion. Campbell, California-based ChargePoint has over 115,000 charging stations and its users have access to an additional 133,000 “roaming” locations across North
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Mountain Crest Acquisition Corp. (MCAC) Reportedly Flirting with Playboy Deal

Mountain Crest Acquisition Corp. (NASDAQ:MCAC) is reportedly nearing a deal to combine with adult entertainment company Playboy Enterprises, according to Reuters. The merger would reportedly value Playboy at about $425 million, which would be a nice hike from the $207 million deal that took it private in 2011 with funds from founder Hugh Hefner and
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Gores Holdings IV, Inc. to Combine with United Wholesale Mortgage

Gores Holdings IV, Inc. (NASDAQ:GHIV) announced this morning that it has entered into a definitive agreement to combine with United Wholesale Mortgage (UWM) in a deal that values it at $16.1 billion. This historic valuation makes it the biggest SPAC deal to date in a record-smashing year for SPACs overall. Pontiac, Michigan-based UWM is the
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Churchill Capital Corp. V (CCV.U) Debuts a New(ish) Term

Sep 23, 2020 INTEL by Kristi Marvin
The Churchill Capital Corp. team filed for their fifth SPAC tonight (CCV.U), and while that alone would normally be big news, it was superseded by a new term (based on an old term) that is sure to get SPAC Land talking. However, before we get there, let’s first review the other structural points of this
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AMCI Teases New Business Combination LOI as Deadline Approaches

AMCI Acquisition Corp. (AMCI) announced this morning that it had entered into a non-binding letter of intent (LOI) to merge with an “innovation-driven, high-growth, fuel cell technology company.” This comes as the SPAC is also seeking shareholder approval to extend its transaction deadline from October 20 to February 22, 2021. Alternative fuels are hot, but
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Legacy Acquisition Corp. (LGC) to Combine with Onyx Enterprises in $337M Deal

Legacy Acquisition Corp. (NYSE:LGC) announced this morning that it has entered into a definitive combination agreement with car parts ecommerce platform Onyx Enterprises International Corp. in a deal that would give it an enterprise value of $337 million. The deal comes just two months after Legacy’s earlier proposed transaction with digital advertising firm Blue Impact
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Extension Vote Results: LF Capital Acquisition Corp. (LFAC)

LF Capital Acquisition Corp. (LFAC) LF Capital Acquisition Corp. (LFAC) filed an 8-K this morning detailing the results of Thursday’s shareholder vote to extend their completion deadline from September 22, 2020 to December 22, 2020.  The extension amendment was approved by a wide margin and the company will not be making any contribution to trust
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