In no particular order, the below is a summary of this morning’s SPAC news.
TPG Pace Holdings Corp. (TPGH), filed their final proxy and set their shareholder vote to complete their business combination with Accel Entertainment, Inc.
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Mosaic Acquisition Corp. (MOSC), the $345 million SPAC proposing to combine with Vivint Smart Home, Inc. (“Vivint”), filed a new preliminary proxy/S-4 today with an important change. Specifically, the previous Maximum Redemption Condition that no fewer than 10,350,000 shares redeem at closing can now be waived by Vivint.
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Early this morning, Social Capital Hedosophia Acquisition Corp., now Virgin Galactic (SPCE), filed an 8-K, post-closing of their combination. It’s was a big filing with no less than 16 exhibits included, but if you scrolled to the bottom of the 8-K, there is a link to the unaudited pro forma financial information.
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Leisure Acquisition Corp. (LACQ), as expected, filed a definitive proxy this evening setting their extension vote date for Novmber 26, 2019. Leisure is asking for four additional months to complete a business combination, which would move their deadline date to April 5, 2020.
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Friday evening, we had a second SPAC file for IPO with the $125 million Software Acquisition Group Inc. (SAQNU). SAQNU will be led by Jonathan Huberman, who was previously Chief Executive Officer of Ooyala (“Ooyala”), a provider of media workflow automation, delivery and monetization solutions.
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On Friday, Amplitude Healthcare Acquisition Corp. (AMHCU), filed for a $100 million SPAC focused on the healthcare sector. Amplitude is being sponsored by Metalmark Capital and by Avego Healthcare Capital, two leading investment firms with a focus on the healthcare industry, and will be led by Howard Hoffen, as Chairman, and Bala Venkataraman, as CEO.
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In no particular order, the below is a summary of Friday’s SPAC news.
Sentinel Energy Services, Inc. (STNL) filed a definitive proxy this evening for their extension vote to be held on November 6, 2019.
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Greenland Acquisition Corp. (GLAC), recently announced that its shareholders have approved their business combination with Zhongchai Holding (Hong Kong) Limited, a developer and manufacturer of traditional transmission products for material handling machineries.
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Late this afternoon, Social Capital Hedosophia Acquisition Corp. (IPOA), released the details of their shareholder vote to approve their business combination with Virgin Galactic and the results were, for the most part, as expected.
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Chardan Healthcare Acquisition Corp. (CHAC), recently announced that its shareholders have approved their business combination with BiomX Ltd. (“BiomX”), a microbiome company developing both natural and engineered phage therapies. More than 97% of the shares voted today were voted in favor of the proposed transaction with BiomX.
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Early this morning, Legacy Acquisition Corp. (LGC), released the details of their shareholder vote to approve their new extension deadline and 100% of the shares that voted, voted “Yes”. Additionally, only 694,820 shares elected to redeem.
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Last night, we had another new IPO filing with GreenVision Acquisition Corp., a $50 million life sciences/healthcare focused SPAC that will be looking for companies primarily in China, but in Asia and North America as well.
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Greenland Acquisition Corp. (GLAC) filed an 8-K this evening announcing the termination of $5 million of their $6 million PIPE/Backstop agreement.
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Trident Acquisitions Corp. (TDAC), filed a preliminary proxy this morning to extend their completion deadline a full six months from December 1, 2019, to May 29, 2020. The vote will be held on November 26th, with a Record Date of October 31st, but there’s a big asterisk here…
First up, Trident will not be contributing any additional funds to trust to extend.
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Friday evening, we had SPAC #51 for the year file for IPO with Juniper Industrial Holdings, Inc. (JIH.U), a $300 million SPAC focused on the industrial sector. Juniper will be led by by Roger Fradin, as Chairman and CEO, and Brian Cook, as CFO and Director.
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Greenland Acquisition Corp. (GLAC), announced today that they had adjourned their shareholder vote to complete their combination with Zongchai Holdings. The new shareholder vote date will be on Thursday, October 24th.
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Union Acquisition Corp. II (LATNU), announced the pricing of their $175 million SPAC IPO this evening. Union II’s units are expected to begin trading tomorrow, Friday, October 18th, under the symbol NASDAQ: LATNU.
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Galileo Acquisition Corp. (GLEO.U), announced the pricing of their upsized $120 million SPAC IPO this evening. Galileo’s units are expected to begin trading tomorrow, Friday, October 18th, under the symbol NYSE: GLEO.U.
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A quick note on TKK Symphony (TKKS) and this morning’s announcement of their Tender Offer since there seems to be some confusion out there around why TKKS is not doing a standard shareholder vote and redemption.
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This afternoon, Pure Acquisition Corp. (PACQ), released the results of its warrant tender offer and warrant holders overwhelmingly said, “Nah. Let’s wait.”
Of Pure’s 20,700,000 outstanding Public Warrants, only 248,000 opted to Tender for $1.00 per Warrant, or just 1.2%.
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