This morning, Draper Oakwood Technology (DOTA), put out an 8-K with additional details on their two backstop arrangements to secure their combination with Reebonz. Notably, the two backstop investors are S-4 Limited, which agreed to acquire 1,000,000 shares in the open market on Friday, and Vertex, which agreed to acquire $5 million worth of shares in the open market on Friday.
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Draper Oakwood Technology Acquisition, Inc. (DOTA), announced this morning that it has arranged two backstops to secure its business combination with Reebonz Limited. However, most of the finer details that you would want to see (and that DOTA doesn’t want you to see) have been left out.
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Chardan Healthcare Acquisition Corp. (CHAC.U), the Chardan-backed SPAC focusing on Healthcare companies in North America, priced their $70 million IPO Thursday evening, wrapping up a very active 2018 for SPACs. CHACU, which is being led by senior members of Chardan Capital Markets, should be the final SPAC for the year, bringing 2018’s grand total to 46 SPAC IPOs and $10.72 billion in gross proceeds raised.
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Some of you may have already noticed, but yesterday, we added two new tables to the Yield-To-Maturity page. However, a bit of background first….
The initial Yield-To-Maturity tables we published used a very conservative method whereby we used either the trust value at IPO (for SPACs still searching for targets) or the “illustrative value” that SPACs use in their proxies or presentations (for announced SPACs) to calculate the YTM.
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One Madison Corp. (OMAD), announced Thursday morning that they have signed a definitive agreement with affiliates of Rhône Capital (“Rhône Capital”), to combine with Ranpak Corporation (“Ranpak”), sustainable systems-based packaging solution for e-Commerce and industrial supply chains.
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CF Finance Acquisition Corp. (CFFAU), the Cantor Fitzgerald sponsored SPAC, priced their $250 million IPO this evening and the units are expected to begin trading on Thursday, December 13th, under the symbol Nasdaq: CFFAU.
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This morning, we had a surprise new IPO filing in the form of a $375 million “Gores” SPAC, but this time with the addition of Dean Metropoulos, the billionaire investor that has been involved in roughly 80 transactions in the food and consumer sectors.
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CF Finance Acquisition Corp., in a very surprising move, re-filed their prospectus this afternoon changing their warrant included in their unit from a full warrant to three-quarters of a full warrant.
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Schultze Special Purpose Acquisition Corp., priced their slightly down-sized $130 million SPAC this morning and is now trading under the symbol Nasdaq: SAMAU. Due to the change in size, a press release was not available right away, however, we updated our tables once we we had confirmation.
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Draper Oakwood Technology Acquisition Corp. (DOTA), put out a press release this morning removing the recently added requirement that in order for shareholders to exercise their redemption rights, they MUST vote either for or against the Business Combination Proposal in addition to redeeming their shares. At
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This afternoon, both Chardan Healthcare (CHACU) and CF Finance (CFFAU) filed amended S-1s, indicating they are getting ready to price next week. Chardan Healthcare’s S-1/A consisted mostly of nits and clarifying their underwriting fees regarding the $100,000 to be paid to B.
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Schultze Special Purpose Acquisition Corp. (SAMAU), the $150 million SPAC focusing on restructured companies, amended their S-1 this morning by adding the “Crescent Term,” which adjusts the warrant strike in the event of the issuance of additional securities in connection with a business combination closing.
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There have been a number of filings this afternoon, so a summary has been provided below:
Industrea (INDU), announced this afternoon that shareholders have approved their business combination with Concrete Pumping Holdings. The
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Saban Capital filed a proxy this afternoon for a shareholder vote. Unfortunately, it’s not to vote on their business combination with Panavision and Sim. Instead, shareholders will be asked to vote on the re-appointment of two Class B Directors and to ratify KPMG as their independent public accounting firm.
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Jensyn Acquisition Corp. (JSYN), filed a preliminary proxy late Friday, for a new shareholder vote to extend their termination date by 180 days. Jensyn is currently set to expire on January 3rd, 2019, but if the extension is approved, they will have until July 2, 2019 to complete an acquisition.
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I-AM Capital Acquisition Company (IAM), released an 8-K this morning, that contained information within it regarding their shareholder votes results and some very interesting “settlements” with their underwriters.
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What a mess…
GTY Technology Holdings (GTYH) and OpenGov, a prior target company of GTYH, are suing each other over, among other things, fraud and breach of contract.
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For those keeping score, we now have five SPACs on file to IPO in December, so we thought a comparison of terms would help for those doing a little Holiday SPAC shopping.
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This morning, Chardan Healthcare Acquisition Corp. (CHACU) filed for a $70 million, Chardan-backed SPAC focusing on Healthcare companies in North America. Chardan Healthcare will be led by senior members of Chardan Capital Markets, a veteran SPAC underwriter.
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Friday evening, Andina Acquisition Corp. III, filed for a $100 million SPAC IPO focused on companies in the Americas, which means we now have four SPACs getting ready to IPO in December, bringing our 2018 potential deal count to 47.
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