Belong Acquisition Corp. (BLNGU) Prices $150M IPO

Jul 22, 2021 IPOs by Marlena Haddad

Belong Acquisition Corp. announced the pricing of its $150 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “BLNGU” Friday, July 23.

The new SPAC aims to combine with a later-stage technology or tech-enabled growth target that has a diverse management team and can bring unique value to customers in a sustainably differentiated manner.

Argus Capital Corp. Opts For a More Stringent Lock-up

Jul 22, 2021 INTEL by Kristi Marvin

Another twist on the promote… Despite the slowdown in SPAC IPOs, we’re still seeing new SPACs file registration statements hoping to price. However, in order to make deals more attractive to investors, we’re also starting to see teams amend some of the terms. As such, today Argus Capital Corp. (Nasdaq:ARGUU) debuted a two year lock-up
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Clover Health (CLOV) Calls for Redemption of Warrants

Jul 22, 2021 INTEL by Nicholas Alan Clayton

Clover Health (NASDAQ:CLOV) announced that it will redeem all outstanding warrants at a price of $0.10 per Warrant at 5 pm EST, August 23, and the Warrants may be exercised by the holders until 5:00 p.m. New York City time on the Redemption Date to purchase the Common Stock underlying the Warrants on a cash
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The Latest SPAC News and Rumors: July 22, 2021

Jul 22, 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: Zoom in talks to invest in Cvent SPAC deal and Bustle owner eyes SPAC deal

Zoom Is in Talks to Invest in Cvent Blank-Check Deal

Zoom Video Communications Inc.

Churchill Capital Corp. IV (CCIV) Adjourns Shareholder Vote

Jul 22, 2021 INTEL by Marlena Haddad

Churchill Capital Corp. IV (NYSE:CCIV) announced in a press release this morning that it adjourned its meeting regarding its combination with luxury electric vehicle company Lucid Motors. Shareholders approved all of the proposals except #2, which requires a higher threshold of 65% in order to pass. The new meeting will be tomorrow, July 23 at
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Gores Holdings VI (GHVI) Completes Matterport Deal

Jul 22, 2021 INTEL by Marlena Haddad

Gores Holdings VI (NASDAQ:GHVI) announced this morning that it has completed its combination with proptech firm Matterport following at a special meeting of shareholders on July 20.

The combined company will commence trading on Nasdaq under the new ticker symbol “MTTR” on July 23, 2021

The release did not include exact redemption figures, but noted that the deal’s final proceeds included about $310 million from Gores VI’s trust.

CM Life Sciences, Inc. (CMLF) Completes Sema4 Deal

Jul 22, 2021 INTEL by Marlena Haddad

CM Life Sciences, Inc. (NASDAQ:CMLF) announced this morning that its shareholders approved its combination with genomic and clinical data intelligence company Sema4 and the transaction has now been completed.

The release and an earlier 8-K filing did not disclose redemption figures, but CM Life Sciences traded above $11 through the day of its July 19 redemption deadline and so it is unlikely shareholders redeemed in large numbers, if any.

MDH Acquisition Corp. (MDH) to Combine with Olive.com in $959M Deal

Jul 22, 2021 INTEL by Marlena Haddad

MDH (NYSE:MDH) has entered into a definitive agreement to combine with digital auto insurers PayLink Direct and Olive.com at an enterprise value of $959 million, or 2.3x its 2023E revenue. Chicago-based Olive.com is the leader in payment services and online vehicle protection plans which allows customers to buy directly on their own terms and in
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10X Capital Venture Acquisition Corp. (VCVC) Shareholders Approve REE Automotive Deal

Jul 21, 2021 INTEL by Marlena Haddad

10X Capital Venture Acquisition Corp. (NASDAQ:VCVC) announced in an 8-K filing that its shareholders approved its combination with electric vehicle-maker (EV) REE Automotive in a meeting held earlier this morning. The 8-K filing made no mention of redemptions, but VCVC traded just below $10 throughout its redemption deadline July 19. It opened this morning at
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Power & Digital Infrastructure Acquisition Corp. (XPDI) to Combine with Core Scientific in $4.3Bn Deal

Jul 21, 2021 INTEL by Nicholas Alan Clayton

Power & Digital (NASDAQ:XPDI) has entered into a definitive agreement to combine with blockchain hosting and crypto mining firm Core Scientific at an enterprise value of $4.3 billion, or 8.8x its 2021E revenue. Bellevue, Washington-based Core Scientific hosts blockchain infrastructure through its own server network, which it also uses to mine Bitcoin and host outsourced
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The Latest SPAC News and Rumors: July 21, 2021

Jul 21, 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: Cvent nears $5 billion SPAC deal, Penske, ROUSH CleanTech, and Proterra announce new collaboration for F-650 electric commercial trucks, and ChargePoint to acquire has·to·be

Cvent Nears $5-Billion-Plus SPAC Deal

Cvent Inc.

Tuscan Holdings Corp. (THCB) Shareholders Approve Microvast Deal

Jul 21, 2021 INTEL by Marlena Haddad

Tuscan Holdings Corp. (NASDAQ:THCB) announced in a press release that its shareholders approved its combination with battery technology developer Microvast Holdings, Inc. in a meeting held earlier this morning. The press release did not provide redemption information, but mentioned the transaction is expected to provide $822 million of gross proceeds to Microvast. This transaction included
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Portage Fintech Acquisition Corp. (PFTAU) Prices Upsized $240M IPO

Jul 21, 2021 IPOs by Marlena Haddad

Portage Fintech Acquisition Corp. announced the pricing of its upsized $240 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “PFTAU” Wednesday, July 21.

Revolution Acceleration Acquisition Corp. (RAAC) Shareholders Approve Berkshire Grey Deal

Jul 20, 2021 INTEL by Marlena Haddad

Revolution Acceleration Acquisition Corp. (NASDAQ:RAAC) announced in an 8-K filing that its shareholders approved its combination with AI robotics firm Berkshire Grey in a meeting held earlier this morning. The 8-K filing made no mention of redemptions, but RAAC traded below $10 throughout its redemption deadline July 16, and opened today at $8.70. Holders of
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Property Solutions Acquisition Corp. (PSAC) Shareholders Approve Faraday Future Deal

Jul 20, 2021 INTEL by Marlena Haddad

Property Solutions Acquisition Corp. (NASDAQ:PSAC) announced in a press release and an 8-K filing that its shareholders approved its combination with electric vehicle (EV) maker Faraday Future in a meeting held earlier this morning. PSAC’s release notes that 99.91% of funds will remain in PSAC’s trust account following the redemption deadline, which should mean roughly
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Ascendant Digital Acquisition Corp. (ACND) Shareholders Approve MarketWise Deal

Jul 20, 2021 INTEL by Marlena Haddad

Ascendant Digital Acquisition Corp. (NYSE:ACND) announced in a press release that its shareholders approved its combination with leading multi-brand digital subscription services platform MarketWise LLC in a meeting held earlier this morning. The press release did not mention redemption numbers, but ACND traded below $10 throughout its redemption deadline July 16, and opened today at $8.79.
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The Latest SPAC News and Rumors: July 20, 2021

Jul 20, 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: New rules for China’s tech companies threatens SPAC deals, and Li-Cycle partners with Univar Solutions OnSite Services

New Listing Rules For China’s Tech Companies Could ‘Dampen’ Appetite For SPAC Deals

A new slate of draft rules announced last week by the Cyberspace Administration of China (CAC) threatens to slow the rate of US listings by Chinese tech companies – and attractiveness of those companies to American investors.

Tailwind Acquisition Corp. (TWND) Adjourns Shareholder Vote Until July 30

Jul 20, 2021 INTEL by Nicholas Alan Clayton

Tailwind Acquisition Corp. (NYSE:TWND) announced that it has adjourned its special meeting held this morning without a final vote to approve its combination with QOMPLX, and will now reconvene on July 30. The press release did not make mention of any movement in the SPAC’s redemption deadline, but in the past SPACs have used adjournments
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Velocity Acquisition Corp. (VELO) to Combine with BBQGuys in a $839M Deal

Jul 20, 2021 INTEL by Nicholas Alan Clayton

Velocity (NASDAQ:VELO) has entered into a definitive agreement to combine with outdoor living ecommerce platform BBQGuys at an enterprise value of $839 million, or 17x its 2022E EBITDA. BBQGuys is a e-retailer of higher-end grills, accessories and backyard products for homeowners and professional builders. The combined company is expected to trade on the Nasdaq under
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Andina Acquisition Corp. III (ANDA) Shareholders Approve Stryve Deal

Jul 20, 2021 INTEL by Marlena Haddad

Andina Acquisition Corp. III (NASDAQ:ANDA) announced in an 8-K that its shareholders approved its combination with emerging healthy snacking platform Stryve in a meeting held yesterday.

The deal and all other measures up for vote passed nearly unanimously, but 756,896 shares were redeemed in connection with vote, removing an estimated $7.7 million from the Andina III’s trust.