Friday Happy Hour Update: Gig Capital and DD3 + Two New IPO Filings

The Happiest of Hours is in full effect tonight with two updates.

In no particular order, the below is a round-up of current SPAC news.

GIGCAPITAL, INC. (GIG)

GigCapital, Inc. (GIG) filed an 8-K late this afternoon with some updates to its agreement with Greenhaven regarding its GIG Rights Shares. 

GigCapital (GIG) Files Multiple Updates Tonight

Lots of Gig News Tonight…

Gig Capital (GIG) filed multiple documents tonight, so a summary of each has been provided below.

Termination Date Extended

Gig filed an 8-K tonight announcing that they have officially moved their Outside Date (when the Purchase Agreement can be terminated) from September 24, 2019 to December 12, 2019. 

Alberton Acquisition Corp. (ALAC) Announces. Kinda….

Alberton Acquisition Corp. (ALAC), put out an 8-K this afternoon regarding the issuance of an unsecured promissory note for $1,148,800, but the entity to who it was issued was what tipped off that they had announced…..something. 

BI Acquisition Corp. WITHDRAWS Registration Statement

So….uhhh, scratch that. BI Acquisition Corp. just withdrew their registration statement.  The IPO is off. 

Well that was fast. In a somewhat surprising move, it seems the team and underwriters decided to pull this deal entirely rather than amend terms. 

GigCapital (GIG) Signs LOI to Clean Up Its Rights Shares

As many of you already know, Gig Capital (GIG), announced on Friday evening that they have entered into a non-binding letter of intent with Greenhaven Road Capital, whereby Greenhaven has agreed to not sell the Shares underlying the 5,482,694 the Rights it currently owns until the later of the sixtieth day (60) after the closing of the Business Combination or January 1, 2020 (the “Closing Date”). 

BI Acquisition Corp. Files $200 Million SPAC

Late Friday afternoon, we had a new IPO filing with BI Acquisition Corp. (BIACU), a $200 million metals, mining and natural resources focused SPAC being sponsored by Bedrock Industries.  BI will be led by Alan Kestenbaum, as Executive Chairman of the Board, and David Cheney, as CEO and Director.

TPG Pace Holdings (TPGH) Releases Extension Vote Info

Early this afternoon, TPG Pace Holdings Corp. (TPGH), released the details of their shareholder vote to approve their new extension deadline and the results were 100% in favor of extending. 

Trinity Merger Corp. Does a 180 Flip with their Warrants. Sticks the Landing.

Trinity Merger Corp. (TMCX), which previously announced their combination with Broadmark real estate lending and management companies (“Broadmark”), filed a preliminary proxy/S-4 this morning with some significant changes to it’s proposed amendment to the warrant agreement. 

Nope, Gordon Pointe is NOT Cx’ling the Warrants of Redeemers

Yesterday, Gordon Pointe Acquisition Corp. (GPAQ), released additional documentation regarding their transaction with HOF Village, Inc., but there was a section in the 8-K that had everyone scratching their heads.  Specifically, the wording around the warrants and what happens if a shareholder elects to redeem. 

China Yunhong Holdings Re-appears and Amends Terms

Late this afternoon, China Yunhong Holdings (ZGYHU) made a surprise appearance by filing an amended S-1, indicating their IPO is back on.  However, the terms have been changed so this is the “new”, revamped China Yunhong.

Opes Acquisition Corp. (OPES) Releases Extension Vote Info

Early this afternoon, Opes Acquisition Corp. (OPES), released the details of their shareholder vote to approve their new extension deadline and the results were not that bad.  Opes was left with approximately 80% of their cash in trust and now has an additional two months to announce and close a combination.

Gordon Pointe/HOVF Files Additional Materials

Gordon Pointe Acquisition Corp. (GPAQ), released additional information this morning regarding their transaction with HOF Village, Inc., via an 8-K and a presentation.  However, the information provided was still pretty light on details. 

Gordon Pointe Enters into a Merger Agreement with HOF Village, LLC

Gordon Pointe Acquisition Corp. (GPAQ), announced late this evening that it had signed a merger agreement with HOF Village, Inc. (“HOFV”).  It had been announced previously that GPAQ had entered into a non-binding “agreement in principle” with HOVF back on August 1st, however, it appears all parties are now moving forward to definitively combine. 

Apex Technology Acquisition Corp. (APXTU) Prices Up-Sized $305M SPAC IPO

Apex Technology Acquisition Corp. (APXTU), announced the pricing of their up-sized $305 million SPAC IPO this evening. Apex Tech’s units are expected to begin trading tomorrow, Tuesday, September 17th, under the symbol NASDAQ: APXTU.

Additional Info on the Mosaic Transaction with Vivint

Mosaic Acquisition Corp. (MOSC), filed their 8-k mid-morning so we have some additional information regarding their transaction with Vivint.

• First up, while Mosaic will need to extend three months post their 24 month deadline of October 23rd, this SPAC has the ability to extend to 27 months without an extension vote. 

Mosaic Announces Combination with Vivint Smart Home

Mosaic Acquisition Corp. (MOSC), the $345 million SPAC led by David Maura, announced this morning that they have entered into a definitive agreement to merge with Vivint Smart Home, Inc. (“Vivint”), a leading smart home technology company with whopping initial enterprise value of $5.6 billion.

Friday Happy Hour Update: Pure, TKK Symphony, Experience and Opes

The Happiest of Hours is starting a little early. Mostly because the usual Friday evening rush of filings will most likely result in a “Boozy Dinner” post.

With that being said, in no particular order, the below is a round-up of current SPAC news.

Experience Investment Corp. (EXPCU) Prices $250M SPAC IPO

Experience Investment Corp. (EXPCU), announced the pricing of their $250 million IPO this evening. Experience’s units are expected to begin trading Friday, September 13th, under the symbol NASDAQ: EXPCU.

Experience Investment Corp.