Continental Steps into Legal Fight as Financial Strategies (FXCO) Sought Trust Cash in Bankruptcy

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

The notion that a SPAC’s trust is impenetrable and impossible to access by any party other than public SPAC shareholders through redemption or a target company at close is one of the fundamental bedrocks of the SPAC product.

New SPAC: Lionheart Holdings (CUBBU) Files for $200M IPO

May 29, 2024 Headline Post, INTEL, New S-1 Filings by Nicholas Alan Clayton

Lionheart Holdings (NASDAQ:CUBBU) marks the latest in a string of returns by serial sponsors, looking to raise in this case a new $200 million SPAC. Although the SPAC’s proposed name does not make this explicitly clear, this is the fifth vehicle backed by the Lionheart sponsor team – a string that has resulted in three
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Morning SPAC News Roundup: May 29, 2024

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

At the SPAC of Dawn Many emerging technology companies targeted by SPACs lately have to tiptoe a fine line, as frequently the feather in their cap that can lead to high valuations is not the one that is actually making money. This appears to be the case with the refreshed investor presentation Kernel Group (NASDAQ:KRNL)
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Podcast: Vertiv’s David Cote and GS I’s Tom Knott Discuss the Success of their SPAC Combination

May 29, 2024 Headline Post, INTEL, Podcasts & Webinars by Kristi Marvin

This week, in a special edition of the SPACInsider Podcast, we speak with David Cote, Executive Chairman of Vertiv, and Tom Knott, who was previously Head of Permanent Capital at Goldman Sachs.

Morning SPAC News Roundup: May 28, 2024

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

At the SPAC of Dawn Friday afternoons ahead of holiday weekends tend to be busy with filings and new SPAC registrations, but this Memorial Day passed with mostly minor adjustments to transactions and no new SPACs, after Perceptive Capital (NASDAQ:PCSC) and Centurion (NASDAQ:ALFUU) each filed for IPOs earlier last week. There is plenty of activity
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SPAC IPO Terms Tracker: May 24, 2024

May 25, 2024 Headline Post, INTEL by Kristi Marvin

Terms Tracker for the Week Ending May 24, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. It was a bonanza (relatively) of amended and new S-1 filings this week for SPACs. After the parched SPAC desert of April, May has been
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Morning SPAC News Roundup: May 24, 2024

May 24, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn ‘Tis the season for secondary offerings, or so seems to be the case with recent de-SPACs. Three have announced offerings of shares and warrants over the past 24 hours, perhaps judging the market is more receptive now than in months past even if Thursday saw a late drop. Another potential
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Churchill Capital Corp VII (CVII) Ups CorpAcq Valuation in Deal Tweaks

May 23, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Churchill VII (NYSE:CVII) has upped its enterprise value of target CorpAcq by +10.1% to $1.74 billion from $1.58 billion, according to a refreshed investor presentation released this morning. The new deck also provides some new numbers on CorpAcq’s estimated 2023 results and sheds some light on why Churchill VII may have postponed its May 21
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New SPAC: Centurion Acquisition Corp. (ALFUU) Files for $250M IPO

May 23, 2024 Headline Post, INTEL, New S-1 Filings by Nicholas Alan Clayton

Centurion Acquisition Corp. (NASDAQ:ALFUU) has filed for a $250 million IPO with a commitment by its sponsor group to try and get to its full allotment in-house. The S-1 includes language that “The sponsor limited partners have expressed to us an interest in purchase up to an aggregate of approximately $283,500,000 of the units in this
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Morning SPAC News Roundup: May 23, 2024

May 23, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn When British regulators adopted new SPAC rules in 2021, it was in part to try and lure more business back to UK exchanges while the SPAC boom was ongoing in the US. Instead, UK-based SPAC volume has remained low and the country’s latest SPAC deal will actually take its target
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New SPAC: Perceptive Capital Solutions Corp (PCSC) Files for $75M IPO

May 22, 2024 Headline Post, INTEL, New S-1 Filings by Nicholas Alan Clayton

Perceptive Capital Solutions (NASDAQ:PCSC) has filed for a $75 million IPO with an experienced team able to drive ambitious terms. It becomes just the second SPAC in six months to file for a vehicle without either warrants or rights and it would become one of a select few teams that have gotten such a vehicle
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Morning SPAC News Roundup: May 22, 2024

May 22, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn Autonomous driving de-SPACs gained a new playground this week as the UK has passed expansive new legislation allowing for autonomous vehicle testing and use on British roads. The new law will clarify liability issues around collisions and beef up its regulatory arm that considers new vehicles to be approved for
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Podcast: One Energy’s Founder and CEO, Jereme Kent (TRTL)

May 22, 2024 Headline Post, INTEL, Podcasts & Webinars by Kristi Marvin

Providing dedicated power to industrial facilities is a task that has drawn in a variety of different energy technologies and, increasingly, a variety of SPAC transactions.

This week, we speak with Jereme Kent, founder and CEO of One Energy.

Morning SPAC News Roundup: May 21, 2024

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

At the SPAC of Dawn Yesterday’s trading provided a jumpy session for some of the highest profile recent de-SPACs with crypto marketplace Bakkt (NYSE:BKKT) leaping +45% to $16.65, although this price would be $0.67 adjusted for stock splits. DTC health firm Hims (NYSE:HIMS) and EV maker VinFast (NASDAQ:VFS) each gained more than +25% on the
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Distoken Acquisition Corporation (DIST) to Combine with Youlife

May 20, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Distoken (NASDAQ:DIST) has entered into a definitive agreement to combine with staffing firm Youlife International. Shanghai-based Youlife provides a staffing and recruitment platform aimed at training up applicants and getting them matched with vocational careers in China and the Asia-Pacific region. The combined company is expected to trade on the Nasdaq under the symbol “YOUL”
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Morning SPAC News Roundup: May 20, 2024

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

At the SPAC of Dawn This week’s SPAC action is set to be front-loaded as far as votes are concerned with four extension votes today and tomorrow. Genesis Growth Tech (OTC:GGAAF) shareholders will also vote to complete its combination with Mind Maze Tuesday. Genesis Growth last closed at $12.50 – a $0.58 discount to its
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SPAC IPO Terms Tracker: May 17, 2024

May 18, 2024 Headline Post, INTEL by Kristi Marvin

Terms Tracker for the Week Ending May 17, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. SPACs managed to price their third IPO in the month of May this week with RF Acquisition Corp. II‘s $100 million offering. RF II’s IPO
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Morning SPAC News Roundup: May 17, 2024

May 17, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn While AST Spacemobile (NASDAQ:ASTS) had the SPAC market’s biggest leap yesterday, among de-SPACs that are trading above $10, it was oil and gas firm Sable Offshore (NYSE:SOC) that had the best outing. It finished up +14% and is gaining a further +2% in the pre-market to $14.30 this morning. This
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RF Acquisition Corp. II (RFAIU) Prices $100M IPO

May 17, 2024 Headline Post, INTEL, IPOs by Kristi Marvin

RF Acquisition Corp. II (NASDAQ:RFAIU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RFAIU”, Friday, May 17, 2024.

AST SpaceMobile (ASTS) Soars on AT&T Deal, Earnings

May 16, 2024 Headline Post, INTEL by Nicholas Alan Clayton

AST SpaceMobile (NASDAQ:ASTS) has been on +68% a tear off of its double-barreled announcement after hours yesterday that it signed a six-year commercial partnership with telecom AT&T (NYSE:T) and had beaten analyst expectations with its first quarter earnings. It has, in fact, been the best performer on the US markets throughout the afternoon outside of
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