The Latest SPAC News and Rumors: August 23, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
InterPrivate III Financial Partners Inc. (IPVF) Terminates Aspiration Deal
InterPrivate III Financial Partners Inc. (NYSE:IPVF) announced this afternoon that it has terminated its combination with ESG-focused financial services firm Aspiration, effective August 29.
The SPAC did not disclose further information as to why the parties nixed the deal.
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First Light Acquisition Group (FLAG) Adjourns Completion Vote
First Light Acquisition Group, Inc. (NYSE: FLAG) announced that it convened and then adjourned, without conducting any other business, its completion vote to August 24, at 10:30 a.m. ET.
Shareholders are to vote on a proposal to approve the SPAC’s $335 million business combination with clinical-stage drug developer Calidi Biotherapeutics.
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The Latest Liquidations: August 21, 2023
Latest SPAC Liquidations: FTAC Zeus Acquisition Corp.
FTAC Zeus Acquisition Corp. (ZING) to Liquidate on August 23
FTAC Zeus Acquisition Corp. (NASDAQ:ZING) today announced its decision to cancel its special meeting scheduled for Monday, August 21.
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Ross Acquisition Corp. II (ROSS) Mutually Terminates APRINOIA Deal
Ross Acquisition Corp II (NYSE:ROSS) announced this afternoon that it has mutually terminated its combination with drug developer APRINOIA, effective immediately.
The parties did not disclose why they decided to nix the deal and did not provide further details.
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New SPAC: Quetta Acquisition Corp. Files for $60M IPO
Quetta Acquisition Corp. (NASDAQ: QETAU) submitted its S-1 filing for a $60 million IPO this morning, marking the first SPAC to file in August and the 18th overall to file in 2023, thus far. The new company intends to focus its efforts on an Asia-domiciled target in the financial technology sector with an enterprise valueRead More
Finnovate Acquisition Corp. (FNVT) to Combine with Scage International in $1Bn Deal
Finnovate (NASDAQ:FNVT) has entered into a definitive agreement to combine with sustainable heavy truck manufacturer Scage at post-money valuation of $1 billion.
Nanjing, China-based Scage is developing a line of hybrid heavy trucks for use in the mining and road freight sectors.
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The Latest SPAC News and Rumors: August 21, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: WeWork plunges another 11% following reverse stock split announcement
WeWork Plunges Another 11% After Announcing Reversing Stock Split To Try And Keep NYSE Listing
WeWork (NYSE:WE), the office-sharing company once valued at $47 billion, said Friday it will undergo a 1-for-40 reverse stock split to try and keep its stock from being delisted.
Compass Digital Acquisition Corp. (CDAQ) Sells Sponsor Economics to Hennessy Team
Compass Digital (NASDAQ:CDAQ) announced in an 8-K this morning that has sold the majority of its sponsor economics to HCG Opportunity.
The SPAC is parting with 3,093,036 promote shares (58.2%) and 3,000,000 private warrants (64.4%) and HCG will pay up to $300,000 to entities that are owed fees from Compass Digital.
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The Growth for Good Acquisition Corporation (GFGD) Adds $5M PIPE to ZeroNox Deal
The Growth for Good (NASDAQ:GFGD) announced this morning that it has added a $5 million PIPE to its combination with EV-maker ZeroNox with the participation of several strategic investors.
The PIPE is set at $10 per share, but The Growth for Good has not yet filed other terms.
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SDCL EDGE Acquisition Corporation (SEDA) Signs LOI with KME’s Aerospace Business
SDCL EDGE (NYSE:SEDA) announced this morning that it has signed a non-binding letter of intent (LOI) to combine with several entities comprising KME’s specialty aerospace business for undisclosed terms.
The LOI would see KME retain a majority stake in the business post-close and the parties expect to announce more details if they come to a definitive agreement.
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SPAC IPO Terms Tracker: August 18, 2023
Terms Tracker for the Week Ending August 18, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Once again, the Announced deals category saw an uptick in activity with another seven SPAC announcing their combinations (16 month-to-date). However, this past week alsoRead More
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The Growth for Good Acquisition Corp. (GFGD) Postpones Completion Vote
The Growth for Good Acquisition Corp. (NASDAQ: GFGD) has decided to push back its completion vote, originally scheduled for August 23, until 10:00 a.m. ET on August 28.
The SPAC stated that it is working through certain agreements for the subscription of shares in a PIPE financing upon the completion of its contemplated business combination with off-highway EV-maker ZeroNox.
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The Latest Non-Redemption Agreements: August 18, 2023
Latest Non-Redemption Agreements: Northern Star Investment Corp. IV, Northern Star Investment Corp. III
Northern Star Investment Corp. IV (NSTD) Adds Non-Redemption Agreement
On August 18, Northern Star IV Sponsor LLC, the sponsor of Northern Star Investment Corp.
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The Latest Liquidations: August 18, 2023
Latest SPAC Liquidations: Atlantic Coastal
Atlantic Coastal Acquisition Corp. (ACAH) to Liquidate on August 18
Atlantic Coastal Acquisition Corp. (NASDAQ: ACAH) today announced that it will redeem all of its outstanding shares of Class A common stock, effective as of August 18, because the company will not be able to consummate an initial business combination.
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Genesis Growth Tech Acquisition Corp. (GGAA) Mutually Terminates NextTrip Deal
Genesis Growth Tech Acquisition Corp. (NASDAQ:GGAA) announced this afternoon that it has mutually terminated its combination with travel technology firm NextTrip just months after their deal announcement.
The parties did not disclose why they decided to nix the deal and did not provide further details.
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The Latest SPAC News and Rumors: August 18, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: WeWork plans 1-for-40 reverse stock split, Babylon files for bankruptcy for two of its subsidiaries, and Golden Rock Global to acquire 2Mee
WeWork Plans 1-for-40 Reverse Stock Split to Save Listing
WeWork Inc.
LAMF Global Ventures Corp. I (LGVC) to Combine with Nuvo Group in $269M Deal
LAMF Global Ventures Corp. I (NASDAQ:LGVC) has entered into a definitive agreement to combine with women’s health innovator Nuvo Group at a pre-money equity valuation of $269 million.
Tel Aviv-based Nuvo is committed to reinventing pregnancy care for the 21st century through new technology, tools, and practices for providers and expectant mothers.
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Global Blockchain Acquisition Corp. (GBBK) to Combine with Cardea in $175M Deal
Global Blockchain (NASDAQ:GBBK) has entered into a definitive agreement to combine with wealth management firm Cardea at an enterprise value of $175 million.
Atlanta-based Cardea provides wealth and asset management services to high-net-worth individuals, institutions and families with a specialization in cross-border advisory services.
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99 Acquisition Group Inc. (NNAG) Prices Downsized $75M IPO
99 Acquisition Group Inc. announced the pricing of its downsized $75 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “NNAGU” on Friday, August 18, 2023.
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