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Leo Holdings Corp. (DMS), Files Redemption Results

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Leo Holdings Corp. (DMS), Files Redemption Results

Jul 20, 2020 INTEL by Kristi Marvin
This morning, Leo Holdings Corp, now Digital Media Solutions (DMS), filed the results of their July 14th vote to complete their combination. For those curious, a SPAC doesn’t have to file this information the day of the vote, but they do have a window of four days. Nonetheless, at Leo’s vote, 18,456,968 shareholders opted to
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Deal Terms: Deerfield Healthcare, CC Neuberger II and Churchill IV

Jul 16, 2020 INTEL by Kristi Marvin
The SPAC market has been so active as of late, with so many new IPO filings and amended registration statements, that all of SPAC land is struggling to keep up.  So in the interest of rendering a summary of changes the below has been provided, in order of most recently filed first: Deerfield Healthcare Technology
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Leisure Acquisition Corp. Terminates Gateway Deal

Jul 16, 2020 INTEL by Kristi Marvin
As anticipated, Leisure Acquisition Corp. (LACQ), filed a new 8-K this morning announcing they have terminated their combination with Gateway Casinos & Entertainment Limited (“Gateway”).  However, Leisure still has plenty of time left to announce a new combination since they recently extended their deadline on June 23rd.  Their current deadline is December 1, 2020, a
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Additional Info on the Churchill III / Multiplan Combination

Jul 15, 2020 INTEL by Kristi Marvin
On Monday, Churchill Capital Corp. III (CCXX), filed their super 8-K after announcing their combination with Multiplan on Sunday evening. As a result, we had a chance to go through all of the merger documents and found a few items of note.  Unfortunately, the SPAC market has been so active, publishing this took a little
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Fortress Value (FVAC) to Combine with MP Materials

Jul 15, 2020 INTEL by Kristi Marvin
Fortress Value Acquisition Corp. (FVAC.U), announced this morning that they have signed a definitive agreement with MP Materials, the owner and operator of Mountain Pass, the only rare earth mining and processing site of scale in North America. The combined company will have an estimated post-transaction enterprise value of $1.0 billion and an equity value
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The Far Point Drama Continues: Globetrotter Drops a Letter

Jul 14, 2020 INTEL by Kristi Marvin
This morning, Far Point Acquisition Corp. (FPAC) filed an SC 13D/A, in which contained a letter from Globetrotter to the FPAC Board of Directors with a further revised proposal.  However, Globetrotter goes out of its way to call it the “Final Proposal“.  Zing!  Basically, more shots fired over the bow. However, Globetrotter lays out quite
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Tuesday Morning Update: Accel Warrant Exchange, IPO Schedule and PSTH.U

Jul 14, 2020 INTEL by Kristi Marvin
In the interest of trying to keep up with all of the SPAC news, a short summary for this morning has been provided below.  Look for an additional article on Churchill III, later today. Accel Entertainment Accel Entertainment, Inc. (ACEL), formerly the TPG Pace Holdings SPAC, announced this morning that it has commenced it’s warrant
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Spartan-Fisker

Spartan Energy Makes it Official: To Combine with Fisker

Jul 13, 2020 INTEL by Kristi Marvin
Spartan Energy floors it and gives Tesla something new to worry about. Spartan Energy Acquisition Corp (SPAQ)., the $552 million Apollo-backed SPAC, confirmed the rumors this morning that it would combine with Fisker Inc., the automaker dedicated to developing, “the most emotionally desirable and eco-friendly electric vehicles on Earth.” This transaction will provide more than
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Teaser

Haymaker Acquisition Corp. II Drops a Teaser

Jul 13, 2020 INTEL by Kristi Marvin
Signs non-binding LOI with ARKO Holdings Ltd. and GPM Investments, LLC. Early this morning, Haymaker Acquisition Corp. II (HYAC), announced they have signed a non-binding LOI with ARKO Holdings Ltd. (“Arko”), an Israeli public holding company (TASE: ARKO) and GPM Investments, LLC, to become a Nasdaq-listed, pure-play operator of convenience stores. which is the 7th
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Churchill III (CCXX) Announces Combination with Multiplan

Jul 12, 2020 INTEL by Kristi Marvin
In keeping with the unusual activity of the past two months, Churchill Capital Corp. III (CCXX), announced they have signed a definitive merger agreement with Multiplan, Inc., tonight, on a Sunday evening ahead of what is anticipated to be a very busy week. At $11.0 billion in enterprise value, this is the largest SPAC transaction
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Big Rock Partners (BRPA) Adds a Twist to its Extension Vote

Jul 10, 2020 INTEL by Kristi Marvin
Big Rock Partners Acquisition Corp. (BRPA), filed a definitive proxy statement this morning ahead of its July 23rd extension vote, and in addition to filling in some previously blank information, they added an innovative little twist on its monthly contribution to extend.  But first, the initial details for this vote are that BRPA will be
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TXAC’s IPO Confirms the New Terms Standard of Zero Warrants

At least for small, tightly focused SPACs. Similar to Panacea Acquisition Corp.’s IPO last Wednesday (PANA.U), Therapeutics Acquisition Corp. (TXAC), came roaring right out of the gate to open at $11.25.  However, it’s currently trading in the $12.00 range after going as high as $13.50.  And Therapeutics does not have any warrants included as part
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