Fintech Ecosystem Development Corp. (FEXDU) Prices $100M IPO

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BowX Acquisition Corp (BOWX) Secures Backstop Financing

Oct 18, 2021 INTEL by Kristi Marvin
BowX Acquisition Corp. (NASDAQ:BOWX) announced this afternoon that ahead of it’s combination vote tomorrow to complete it’s transaction with WeWork, BowX has entered into a backstop agreement for up to $150 million with DTZ Worldwide Limited, the parent company to Cushman & Wakefield U.S., Inc., or “C&W”. Previously, WeWork and C&W had been in non-binding discussions
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The Latest SPAC News and Rumors: October 18, 2021


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Pershing Square asks judge to toss investor suit; Aurora appoints trucking expert to its Safety Advisory Board


Ackman’s Pershing Square SPAC Asks Judge to Toss Investor Suit

Bill Ackman’s Pershing Square Tontine Holdings Ltd.

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Yucaipa Acquisition Corporation (YAC) Upsizes PIPE, Adds Backstop

It is backstop season in SPAC land and Yucaipa Acquisition Corporation (NYSE:YAC) is the latest to get in on the fun. It announced overnight that it has signed a backstop agreement worth up to $178 million and has also upsized its PIPE by an additional $70 million for its combination with SIGNA Sports United. Three
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The Latest SPAC News and Rumors: October 15, 2021


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: ECombustible in talks to merge with Benessere Capital; Redbox teams up with entertainment company Curiosity on multi-faceted agreement


Hydrogen Fuel Firm ECombustible Eyes Up to $1 Billion SPAC Deal

ECombustible, a maker of hydrogen-based fuel, is in talks to merge with blank-check firm Benessere Capital Acquisition Corp.

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GigCapital4 (GIG) Arranges Two Forward Purchase / Backstop Arrangements

Oct 15, 2021 INTEL by Kristi Marvin
GigCapital4 (NASDAQ:GIG) announced this morning that they have entered into a Forward Purchase Agreement (“FPA”) with Highbridge and Glazer Capital,  in an effort to secure their combination shareholder vote.  This arrangement is similar to the FPA/Backstop we saw earlier this week with Big Cypress (Nasdaq: BCYP), but with some additional terms. As part of the FPA,
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26 Capital Acquisition Corp. (ADER) to Combine with Okada Manila in $2.6Bn Deal

26 Capital (NASDAQ:ADER) has entered into a definitive agreement to combine with gambling resort Okada Manila at an enterprise value of $2.6 billion. Okada Manila operates a 42-hectare hospitality complex including the largest integrated casino in the Entertainment City, Philippines. The combined company is expected to trade on the Nasdaq once the deal is completed
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Founder SPAC (FOUNU) Prices $275M IPO

Oct 15, 2021 IPOs by Marlena Haddad

Founder SPAC announced the pricing of its $275 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “FOUNU” Friday, October 15.

The new SPAC intends to focus on finding high-quality companies actively engaged in the digital transformational change with an enterprise value between $1.0 to $2.5 billion, with an emphasis on SaaS applications, optimization solutions, security, edge computing, and AI.

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VPC Impact (VIH) Shareholders Approve Bakkt Deal

VPC Impact Acquisition Holdings (NASDAQ:VIH) secured shareholder approval of its combination with digital asset marketplace Bakkt Holdings today after pre-announcing its redemption amounts yesterday morning.

Today’s 8-K filing provided further transparency into VIH’s redemptions, disclosing that a total of 8,452,042 shares were redeemed in connection with the business combination, removing 40.76% of the SPAC’s trust.

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