TPG Pace Holdings (TPGH) is starting the month off on a high note since it was announced this morning that Clairvest, its minority shareholder that had previously filed a lawsuit to block the merger between TPGH and Accel Entertainment, has voluntarily dismissed its litigation.
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As expected, GigCapital, Inc. (GIG) announced this afternoon its intention to do a cash tender offer for its outstanding Rights. This comes on the heels of GIG previously tipping off investors that it wanted to do something about its Rights when GIG announced back on August 19th that it had begun it’s “de-SPACing” process.
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Modern Media Acquisition Corp. (MMDM), which had their shareholder vote today to approve their combination with Akazoo Ltd., released their vote results and there were, surprisingly, few redemptions. Only 48,719 shares redeemed at an estimated $10.35 per share, removing approximately $504,241.
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This afternoon, Constellation Alpha Capital Corp. (CNAC), released the details of their shareholder vote to approve their merger with Dermtech, Inc., and there weren’t any surprises. The combination was approved with 4,218,390 “yes” votes and only 450,000 votes in the “no” column, however, 714,075 shares opted to redeem.
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Late Friday evening, we had a second IPO filing with New Providence Acquisition Corp., a $200 million consumer focused SPAC being led by Alex Coleman and Gary Smith. Alex Coleman will be leading as Chairman and Chief Executive Officer, while Gary Smith will be the co-Chief Executive Officer and Director.
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Late Friday, Experience Investment Corp. filed for a $250 million travel and leisure focused SPAC, tee-ing up a mid-September IPO. And “tee-ing” seems appropriate given that Experience will be led by Eric Affeldt, who was evidently “rated the most powerful person in golf by Golf Inc.,
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Early this afternoon, Big Rock Partners Acquisition Corp. (BRPA), released the details of their shareholder vote to approve their extension deadline to November 22, 2019, from August 22, 2019. As a result, the Company’s Sponsor will be contributing $0.02 to the trust account per month for each public share that was not redeemed, or $78,666.80
Per the 8-K, 846,888 shares of the Company’s common stock elected to redeem, which resulted in approximately $8.9 million (at an estimated $10.49 per share) being removed from the Trust Account.
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Legacy Acquisition Corp. (LGC), announced this morning that it has entered into a definitive share exchange agreement with the Blue Impact group business — a digital-first, global advertising and marketing services group (the “Blue Impact business”), a subsidiary of Blue Focus Intelligent Communications Group (“BFICG”), LLC.
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GigCapital, Inc. (GIG) announced earlier this afternoon that it had begun its “de-SPACing” process via a press release and then later, an 8-K filing.
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Early this afternoon, Apex Technology Acquisition Corp. filed for a $275 million software/technology focused SPAC, ending the late-summer IPO drought. If you recall, the last SPAC to file for IPO was Silver Spike, which debuted more than three weeks ago on July 22nd.
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Trinity Merger Corp. (TMCX), announced their combination with Broadmark on Monday, and also included in the filed documents was a proposed amendment to the warrant agreement. However, how the way the language was worded was very confusing.
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Legacy Acquisition Corp. (LGC), the $300 million consumer-focused SPAC led by Edwin Rigaud, filed a preliminary proxy this morning with a proposal to extend their deadline from November 21, 2019 to January 21, 2020.
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Boxwood Merger Corp. (BWMC), announced this morning that they have entered into a definitive agreement with Atlas Intermediate Holdings LLC (“Atlas”), a provider of professional testing, inspection, engineering and consulting services.
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UPDATED: ALL UPDATES BELOW ARE NOTED IN BLUE FONT
Trinity Merger Corp. (TMCX), announced this morning that they have entered into a definitive merger agreement with the Broadmark real estate lending companies and management companies (“Broadmark”), to create an internally-managed, mortgage real estate investment trust (“REIT”) with an expected equity value of $1.5 billion.
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Trinity Merger Corp. (TMCX), announced this morning that they have entered into a definitive merger agreement with the Broadmark real estate lending companies and management companies (“Broadmark”), to create an internally-managed, mortgage real estate investment trust (“REIT”) with an expected equity value of $1.5 billion.
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Just when you think things might be starting to quiet down, we get a news release announcing another shakeup in the SPAC landscape.
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It’s Happy Hour somewhere, but for New York, it’s still a little on the early side, so maybe let’s go with a boozy Friday lunch and see what it turns into to.
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Thunder Bridge Acquisition II, Ltd. (THBRU), announced the pricing of their $300 million SPAC IPO this evening. Thunder Bridge II’s units are expected to begin trading Friday, August 9th, under the symbol NASDAQ: THBRU.
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Silver Spike Acquisition Corp. (SSPKU), announced the pricing of their $250 million SPAC IPO this evening. Silver Spike’s units are expected to begin trading Thursday, August 8th, under the symbol NASDAQ: SSPKU.
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As has been previously discussed, SPACs are having a helluva year. 2019 has already seen 37 SPACs price their IPOs raising $8.7 billion in gross proceeds, which is a 35% increase over 2018 during the same time period.
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