Morning SPAC News Roundup: July 9, 2024

Jul 9, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn Lionsgate Studios (NASDAQ:LION) brought SPACs to the big screen, albeit in a behind-the-scenes role, but the vehicles now look to take on a more front-and-center billing on the small screen. HBO Max yesterday launched its first trailer for its documentary Wild Wild Space, which follows space ventures Rocket Lab (NASDAQ:RKLB),
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Morning SPAC News Roundup: July 8, 2024

Jul 8, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn The SPAC market picks back up after the week of the Fourth with five extension votes on the docket and two completion votes. Quetta (NASDAQ:QETA) is also coming up on its transaction deadline July 10, but it has options to push this into the future. It may deposit $690,000 for
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SPAC IPO Terms Tracker: July 5, 2024

Jul 6, 2024 Headline Post, INTEL by Kristi Marvin

Terms Tracker for the Week Ending July 5, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This was a holiday week and July 4th fell on a Thursday this year which meant many offices were sparsely staffed to take advantage of
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Morning SPAC News Roundup: July 5, 2024

Jul 5, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn US markets finished their truncated trading session Wednesday at an all-time high, yet “market conditions” nonetheless claimed another SPAC transaction as victim over the holiday break. Futures remain largely green all the same with a new government taking shape in the UK and fresh job numbers slated to come out
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Morning SPAC News Roundup: July 3, 2024

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

At the SPAC of Dawn Today is a half-day for the US markets, but that rarely equates to half as much activity in SPACs. Teams frequently like to tuck deal announcements and less-than-positive corporate actions into portions of the calendar just before a holiday. But, with the minutes from the Fed’s June meetings coming out
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June 2024 Corporate Actions Analysis

Jul 2, 2024 Headline Post, INTEL by Anthony Sozzi

With June wrapping up, legacy SPACs have continued to need to approve additional time for their business combinations, while at the same time, new deals have paved the way for the future. The amount of funds that could be left in the trust account is unknown territory for newly issued SPACs, but these fresh starts
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Eureka Acquisition Corp (EURKU) Prices $50M IPO

Jul 2, 2024 Headline Post, INTEL, IPOs by Nicholas Alan Clayton

Eureka Acquisition Corp announced the pricing of its $50 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EURKU”, Tuesday, July 2, 2024.

The new SPAC aims to combine with a target in Asia utilizing the team’s established deal-sourcing network among private equity and venture capital firms in the region.

Morning SPAC News Roundup: July 2, 2024

Jul 2, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn SPACs jumped into show business in a big way this year with Screaming Eagle‘s combination with Lionsgate Studios (NASDAQ:LION). But, they had already been active in the music scene listing companies like Middle Eastern music streamer Anghami (NASDAQ:ANGH), music portfolio investor Reservoir (NASDAQ:RSVR) and ticket seller Vivid Seats (NASDAQ:SEAT). But,
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New SPACs: Cayson (CAPNU), Calisa (ALISU) File for $60M IPOs with EarlyBird

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

June finished the half strong for the SPAC market, which was capped off by Cayson (NASDAQ:CAPNU) and Calisa (NASDAQ:ALISU) each filing for $60 million IPOs with EarlyBirdCapital underwriting on the last trading day of the month. These two have been grouped together here due to the great number of similarities they bear in their terms.
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New SPAC: Andretti Acquisition Corp II (POLEU) Files for $200M IPO

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

Andretti II (NASDAQ:AAMU) has filed for an IPO as the largest of the trio of new SPACs to file late last week, seeking $200 million with a repeat team. It is in fact the first repeat SPAC team that underwriter BTIG has nailed down in 2024 and the SPAC’s terms are highly similar to that
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Continental to Backstop the 724K Shares Incorrectly Issued by Canna-Global Acquisition Corp (CNGL)

Jul 1, 2024 Headline Post, INTEL by Kristi Marvin

Continental Stock Transfer & Trust put out a press release that should provide some comfort to investors in the current Canna-Global/Liqueous saga. That’s because Continental took the unusual position of backstopping Canna-Global’s trust for the 724,000 shares that were incorrectly issued to Liqueous, and which Liqueous has yet to return.

AI Transportation Acquisition Corp (AITR) to Combine with American Metals in $170M Deal

Jul 1, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

AI Transportation (NASDAQ:AITR) has entered into a definitive agreement to combine with recycling firm American Metals at an equity value of $170 million. Fishers, Indiana-based American Metals is a subsidiary of American Resources (NASDAQ:AREC) focused on producing rare earth materials for use in batteries from recycled magnets and other recovered industrial metals. The combined company
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Morning SPAC News Roundup: July 1, 2024

Jul 1, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn Another shortened week for SPACs could mean increased activity once again as teams were busy around Juneteenth and July 4 may be no different. Only four extension votes currently sit on the calendar for the week, but there has been plenty of action in new issuance with three new SPACs
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First Half of 2024 SPAC Review

Jun 30, 2024 Headline Post, INTEL by Kristi Marvin

An In-Depth Look at SPAC Activity Through the First Half of 2024 Below is a summary of the year-to-date SPAC performance. Q2-2024 started off slow with the usual April doldrums, but SPAC activity has since picked up speed. In fact, June was the first month where many in SPACLand were expressing cautious optimism thanks to
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SPAC IPO Terms Tracker: June 28, 2024

Jun 29, 2024 Headline Post, INTEL by Kristi Marvin

Terms Tracker for the Week Ending June 28, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As mentioned previously, this is going to an abbreviated summary this week since we’re hard at work summarizing the quarter and the first half of
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SPAC Lock-Up Expirations to Watch in July 2024

Jun 28, 2024 Headline Post, INTEL by Nicholas Alan Clayton

July is the first month in some time with a 1-to-1 overlap between the companies and the sponsors that are being released from lockups. Overall, this group is currently trading at a split-adjusted median share price of $1.10, but that doesn’t mean doom and gloom for all. PSQ Holdings (NYSE:PSQH), which launched as a commerce
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Canna-Global Acquisition Corp (CNGL) Halted as Nasdaq Investigates Share Issuance

Jun 28, 2024 Headline Post, INTEL by Nicholas Alan Clayton

The Nasdaq announced it has halted trading for Canna-Global (NASDAQ:CNGL), and not for any of the usual reasons, but rather for a request of information following a particularly unusual issuance of shares. Essentially, Canna-Global and underwriter EF Hutton agreed to retire the $8 million deferred underwriting fee the SPAC still owed it at close. EF
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Arogo Capital Acquisition Corp. (AOGO) to Combine with Ayurcann Holdings in $210M Deal

Jun 28, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Arogo Capital (NASDAQ:AOGO) has entered into a definitive agreement to combine with cannabis firm Ayurcann (CSE:AYUR) at an enterprise value of $210 million. Ayurcann sells cannabis products primarily direct-to-consumer in Canada and is a leading brand in Ontario. The deal is expected to be completed in the second half of 2024. Transaction Overview Arogo has
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Morning SPAC News Roundup: June 28, 2024

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

At the SPAC of Dawn The trend of Trump Media’s (NASDAQ:DJT) stock performance serving as a proxy for odds-making on Donald Trump’s likelihood of re-election and general enthusiasm on the right appears to be continuing. Shares are riding a +11.6% boost in the pre-market as the former president is seen to have come out the
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New SPAC: AA Mission Acquisition Corp (AAMU) Files for $300M IPO

Jun 27, 2024 Headline Post, INTEL, New S-1 Filings by Nicholas Alan Clayton

AA Mission (NASDAQ:AAMU) has filed to be underwriter Clear Street’s second SPAC IPO, this time shooting for double the raise with $300 million before over-allotments. The vehicle becomes the first SPAC to be filed with an overfunded trust in two months. It will have $10.05 per unit in trust from the start, which may have
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