August 2024 Corporate Actions Analysis

Sep 3, 2024 Headline Post, INTEL by Anthony Sozzi

As the summer continues to heat up, so do trust accounts that seem to be lighting themselves on fire, leaving teams scrambling to secure as much of the remaining trust account as possible. August brings us a continuation of the summer with old and new SPACs both fighting for the same end goal. Extension Votes
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PowerUp Acquisition Corp. (PWUP) to Combine with Aspire Biopharma in $316M Deal

Sep 3, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

PowerUP (NASDAQ:PWUP) has entered into a definitive agreement to combine with Aspire Biopharma for $316.8 million in share compensation. Humacao, Puerto Rico-based is developing a method of administering aspirin more quickly with an oral powder as opposed to traditional pills. The combined company is expected to trade on the Nasdaq under the symbol “ASPH” once
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Morning SPAC News Roundup: September 3, 2024

Sep 3, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn September’s first week faces a pair of extension votes and a completion vote for Clover Leaf (NASDAQ:CLOE), although it has postponed it already once. Ault Disruptive (NYSE:ADRT) is also holding a meeting to reelect its chairman and confirm the appointment of Marcum as its auditor. Meanwhile, something of a copycat
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SPAC IPO Terms Tracker: August 30, 2024

Aug 31, 2024 Headline Post, INTEL by Kristi Marvin

Terms Tracker for the Week Ending August 30, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As the month of August come to a close, it’s safe to say SPACs have just had their best summer in three years. August priced
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SPAC Lock-Up Expirations to Watch in September 2024

Aug 30, 2024 Headline Post, INTEL by Nicholas Alan Clayton

September is to be the first month in some time where one particular lock-up expiration is sure to attract all of the attention. That is of course, the lock-up for Digital World and its target Trump Media (NASDAQ:DJT), which ends September 25 for both parties. The deal has gotten meme stock treatment ever since it
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Mountain Crest Acquisition Corp. V (MCAG) to Combine with CUBEBIO in $375M Deal

Aug 30, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Mountain Crest V (NASDAQ:MCAG) has entered into a definitive agreement to combine with diagnostics biotech firm CUBEBIO for $375 million in equity compensation. Seoul, Korea-based CUBEBIO has developed 37 Korean patents around its CEED-NOVUS line of cancer screening kits. The combined company is expected to trade on the Nasdaq once the deal is completed in
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Morning SPAC News Roundup: August 30, 2024

Aug 30, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn It has been some time since a short seller landed a major punch against a de-SPAC, but Hindenburg Research has already done at least some damage with its latest investigation, this time into iLearningEngines (NASDAQ:AILE). The enterprise AI learning firm dropped -53% to $1.49 on yesterday’s report, which alleges that
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Cactus Acquisition Corp 1 (CCTS) to Combine with Tembo in $904M Deal

Aug 29, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Cactus 1 (NASDAQ:CCTS) has entered into a definitive agreement to combine with EV maker Tembo at a pro forma enterprise value of $904 million. Tembo is the Netherlands-based subsidiary of British energy transition firm VivoPower (NASDAQ:VVPR) focused on building fleets of electric-powered vehicles for off road or other specialized uses. The combined company is expected
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Agriculture & Natural Solutions (ANSC) to Combine with Australian Food in $625M Deal

Aug 29, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Agriculture & Natural Solutions (NASDAQ:ANSC) has entered into a definitive agreement to combine with Australian Food & Agriculture (AFA) at a valuation of $625 million, or 9.4x its 2024E revenue. The New South Wales, Australia based farming firm operates a diversified portfolio of crops and grazing land for sheep and cattle. The combined company is
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GigCapital7 (GIGGU) Prices Downsized $200M IPO

Aug 29, 2024 Headline Post, INTEL, IPOs by Nicholas Alan Clayton

GigCapital7 announced the pricing of its downsized $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GIGGU”, Thursday, August 29, 2024.

The new SPAC intends to combine with a technology target in the AI, medtech, sustainability, and broader TMT sectors.

Morning SPAC News Roundup: August 29, 2024

Aug 29, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn Certain things come in the threes and that was the case yesterday as AST SpaceMobile (NASDAQ:ASTS), AvePoint (NASDAQ:AVPT) and Westrock Coffee (NASDAQ:WEST) each announced moves to clear their warrant overhangs. In the case of software firm AvePoint and Westrock Coffee these were exchanges for cash and shares, but orbital telecom
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New SPAC: Ribbon Acquisition Corp (RIBBU) Files for $50M IPO

Aug 28, 2024 Headline Post, INTEL, New S-1 Filings by Nicholas Alan Clayton

Ribbon Acquisition Corp. has filed for a $50 million SPAC with familiar terms to match its Asia-based team as it bumps underwriter Alliance Global Partners (AGP) up in the league tables. The terms include a trust funded to 100.0% with $10.00 per unit initially in the trust account and each of those units are to
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Morning SPAC News Roundup: August 28, 2024

Aug 28, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn The US markets are about to get an update on a variety of mortgage and oil indicators this morning, but the market effect of each of this is likely to be eclipsed by a single company’s after-hours earnings release today. Chipmaker NVIDIA (NASDAQ:NVDA) has its products embedded in so many
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Black Spade Acquisition II Co. (BSIIU) Prices $150M IPO

Aug 27, 2024 Headline Post, IPOs by Kristi Marvin

Black Spade Acquisition II Co. (Nasdaq: BSIIU) announced the pricing of its $150 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “BSIIU” Wednesday, August 28.

Concord Acquisition Corp. II (CNDA) to Combine with Events.com in $399M Deal

Aug 27, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Concord II (NYSE:CNDA) has entered into a definitive agreement to combine with Events.com at an enterprise value of $399 million. La Jolla, California-based Events.com runs a software suite and set of direct services aimed at helping event organizers engage with guests and manage their sales, marketing and data-tracking efforts. The combined company is expected to
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Morning SPAC News Roundup: August 27, 2024

Aug 27, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn Last week appeared to offer something of a “back to the basics” streak in new SPAC deal announcements as three of the week’s six new transactions were in mining and energy. Two others came from the fintech and insurance sectors, which were favorites of SPACs back in 2021. This final
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Morning SPAC News Roundup: August 26, 2024

Aug 26, 2024 SPACs in the News by Kristi Marvin

At the SPAC of Dawn Even as the vacation season draws to a close, SPACs still have five votes this week to contend with and may add a pair of newcomers to their midst as both YHN I (NASDAQ:YHNAU) and Black Spade II (NASDAQ:BSIIU) look to price. And, although the bigger Fed hints that are
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SPAC IPO Terms Tracker: August 23, 2024

Aug 24, 2024 Headline Post, INTEL by Kristi Marvin

Terms Tracker for the Week Ending August 23, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. For the first time since the first week of May 2024, there were no new SPAC registration statements filed this week. Technically there were no
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Plum Acquisition Corp. III (PLMJ) to Combine with Tactical Resources Corp. in $589M Deal

Aug 23, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Kristi Marvin

Plum Acquisition Corp. III (NASDAQ:PLMJ) has entered into a definitive agreement to combine with Tactical Resources Corp (TSX.V: RARE | OTC: USREF), a mineral exploration and development company specializing in Rare Earth Elements (REEs). The transaction values Tactical Resources at an implied pro-forma enterprise value of $589 million. Founded in 2018, the Company’s flagship asset,
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New SPAC Promotes Are Expanding, But That May Not Last

Aug 23, 2024 Headline Post, INTEL by Nicholas Alan Clayton

As the SPAC market resets with a flurry of new issuance, one new feature of many SPACs in this new crop is that many are filing for IPOs with structures that provide for larger proportions of shares to be set aside for the sponsor’s promote. The promote has been a contentious issue in SPACs for
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