Morning SPAC News Roundup: August 23, 2024

Aug 23, 2024 SPACs in the News by Kristi Marvin

At the SPAC of Dawn SPACs have seen a bump of terminations in August, with the eighth termination being announced last night from Israel Acquisition Corp., and technically, a ninth this morning from TortoiseEcofin III. However, in TortoiseEcofin’s case, it appears they still intend to pursue the combination, but since they are also liquidating and
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Inflection Point II (IPXX) to Combine with USA Rare Earth in $870M Deal

Aug 22, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Kristi Marvin

Inflection Point Acquisition Corp. II (NASDAQ:IPXX) has entered into a definitive agreement to combine with USA Rare Earth, LLC (USARE), a company building out a vertically integrated, domestic rare earth element (“REE”) magnet production supply chain. The transaction values USARE at a pro-forma enterprise value of $870 million and aims to position the company as
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Yotta Acquisition Corporation (YOTA) to Combine with DRIVEiT in $100M Deal

Aug 22, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Yotta (NASDAQ:YOTA) has entered into a definitive agreement with to combine DRIVEiT Financial Auto Group for $100 million in equity consideration. DRIVEiT provides software to help car buyers and dealerships arrange financing checks and other services. The combined company is expected to trade on the Nasdaq once the deal is completed in the first half
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Morning SPAC News Roundup: August 22, 2024

Aug 22, 2024 Headline Post, INTEL, SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn The market has already seen plenty of positive macro news this week including Fed meeting minutes that suggest confidence in a September rate cut. But, many eyes will be today’s release of weekly jobless claims not only for inflation indications, but for any variation at all. The Labor Department has
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Morning SPAC News Roundup: August 21, 2024

Aug 21, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn The fate of companies following their SPAC deals has been analyzed at great lengths by the financial press in recent years. It is rare that the results of the SPAC transactions are compared in the aggregate to returns on traditional IPOs. But, beyond this, these are not even the only
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Morning SPAC News Roundup: August 20, 2024

Aug 20, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn If the trajectory of Trump Media’s (NASDAQ:DJT) stock has been telling the story of this US election cycle, the bears may be beginning to show up for former President Donald Trump’s reelection campaign. Having been a retail darling throughout the three-year saga of its de-SPACing process, Trump Media shares have
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AlphaVest Acquisition Corp. (ATMV) to Combine with AMC in $175M Deal

Aug 19, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

AlphaVest (NASDAQ:ATMV) has entered into a definitive agreement to combine with AI firm AMC Corporation at a $175 million valuation. AMC provides a native computer vision AI platofrm for IoT applications. The combined company is expected to trade on the Nasdaq once the deal is completed in the fourth quarter of 2024. Transaction Overview AlphaVest
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New SPAC: FACT II Acquisition Corp. (FACTU) Files for $175M IPO

Aug 19, 2024 Headline Post, INTEL, New S-1 Filings by Nicholas Alan Clayton

FACT II Acquisition Corp. has filed for a $175 million SPAC as underwriter Cohen & Company’s first new S-1 filing this month. The first SPAC in this series, Freedom I, drew headlines from the addition of former Credit Suisse CEO Tidjane Thiam as executive chairman. Thiam is not a part of this SPAC endeavor, but
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Morning SPAC News Roundup: August 19, 2024

Aug 19, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn While things have been on the upswing for SPACs in general towards the end of this summer, the weekend’s announcement that Churchill VII (NASDAQ:CVII) was calling it quits with target CorpAcq provided a stark reminder of the difficulties that remain for closing a combination. The Churchill VII termination and subsequent
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SPAC IPO Terms Tracker: August 16, 2024

Aug 17, 2024 Headline Post, INTEL by Kristi Marvin

Terms Tracker for the Week Ending August 16, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. SPACs are now halfway through August and have already priced seven IPOs. There’s still plenty waiting in the wings and with two full weeks left
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Healthcare AI Acquisition Corp. (HAIA) to Combine with Leading Group in $430M

Aug 16, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Healthcare AI (NASDAQ:HAIA) has entered into a definitive agreement to combine with digital insurance broker Leading Group at a $430 million valuation. The China-based company connects insurance carriers to customers through its integrated marketing channels. The combined company is expected to trade on the Nasdaq once the deal is completed in the fourth quarter of
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Morning SPAC News Roundup: August 16, 2024

Aug 16, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn Things have heated up in the SPAC market to close out the week, with a new deal and two fresh IPOs from SilverBox IV (NYSE:SBXD.U) and HCM II (NASDAQ:HONDU). The past 24 hours have been busy on the tail end of transactions as well, with three deals closing, two de-SPACs
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SilverBox Corp IV (SBXD.U) Prices $200M IPO

Aug 15, 2024 Headline Post, INTEL, IPOs by Nicholas Alan Clayton

SilverBox Corp IV announced the pricing of its $200 million IPO and its units are expected to begin trading on the NYSE under the symbol “SBXD.U”, Friday, August 16, 2024.

The new SPAC intends to combine with a target in an industry where its team holds expertise such as e-commerce, financial services, telecom or food and agriculture, among others.

HCM II Acquisition Corp (HONDU) Prices $200M IPO

Aug 15, 2024 Headline Post, INTEL, IPOs by Nicholas Alan Clayton

HCM II Acquisition Corp announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “HONDU”, Friday, August 16, 2024.

Rocky Summer Welcomes Hims (HIMS), AST SpaceMobile (ASTS) to $15+ Club

Aug 15, 2024 Headline Post, INTEL by Nicholas Alan Clayton

The leaderboard of the most successful de-SPACs of the past decade has been relatively consistent over the past six months with primarily familiar names swimming around the top. GS Acquisition’s 2020 combination with data center firm Vertiv (NYSE:VRT) has consistently soared above the rest with 701.6% returns on its shares as of its last close.
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Morning SPAC News Roundup: August 15, 2024

Aug 15, 2024 Headline Post, INTEL, SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn The market rebound from cooling inflation numbers is set to get a load of more indicators to ingest today as the US reports jobless claims, import/export prices and purchases of treasury bills. The New York and Philadelphia Feds are also to release a raft of automotive, retail sales and manufacturing
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Morning SPAC News Roundup: August 14, 2024

Aug 14, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn Sometimes the best deals are the ones that one opts to skip, and that increasingly looks to be the case with Indian edtech giant Byju. Once India’s largest startup, Byju soared to a $22 billion private valuation and in 2021 it aimed to accelerate this into a $48 billion valuation
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Integrated Rail and Resources Acquisition Corp. (IRRX) to Combine with Tar Sands Holdings II

Aug 13, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Integrated Rail and Resources (OTC:IRRX) has entered into a definitive agreement to combine with natural resources firm Tar Sands II for yet undisclosed terms. Salt Lake City, Utah-based Tar Sands II is developing refining and real estate assets in territory located near Vernal, Utah. The combined company is expected to trade on the Nasdaq once
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Morning SPAC News Roundup: August 13, 2024

Aug 13, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn On the other end of August’s string of votes, the month could now see closings pick back up pace. July saw eight SPAC combinations concluded, but things had slowed as SPACs rounded into August, which has so far only seen two SPACs get to the finish line. But the trio
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Cantor Equity Partners Inc. (CEP) Prices $100M IPO

Aug 12, 2024 Headline Post, INTEL, IPOs by Nicholas Alan Clayton

Cantor Equity Partners announced the pricing of its $100 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CEP”, Tuesday, August 13, 2024.

The new SPAC intends to mount a broad search for a target that has positive long-term growth prospects, consolidation opportunities and potentially recurring revenue.