Morning SPAC News Roundup: May 16, 2024

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

At the SPAC of Dawn Chinese auto conglomerate Geely (HK:0175) has occupied a not insignificant portion of recent SPAC dealflow as it has turned to the vehicles to spin off a series of subsidiaries. But, this week, it veered back to the traditional IPO path. The early returns on its move to bring EV brand
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Global Technology Acquisition Corp. I (GTAC) to Combine with Tyfon in $434M Deal

May 15, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Global Technology I (NASDAQ:GTAC) has entered into a definitive agreement to combine with art marketplace Tyfon at an enterprise value of $434 million, or 12.7x its $34 million 2023 EBITDA. Suzhou, China-based Tyfon operates as a dealer of Chinese contemporary art, selling pieces online and through traditional exhibition methods. The combined company is expected to
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Hudson Acquisition I Corp. (HUDA) to Combine with Aiways in $400M Deal

May 15, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Hudson I (NASDAQ:HUDA) has signed a letter agreement to combine with EV maker Aiways Europe at an equity value of $400 million. Aiways is headquartered in Shanghai and focused on developing a line of EV SUVs for the European and Asian markets. The combined company is expected to trade on the Nasdaq once the deal
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Morning SPAC News Roundup: May 15, 2024

May 15, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn SPACs are showing a continued resurgence in activity this morning as two new business combinations have been announced since the market close yesterday. The return of meme trader Roaring Kitty appears to have also injected fresh adrenaline into the retail market. Alongside pops with the usual meme stocks, shareholders in
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Battery Future Acquisition Corp. (BFAC) to Combine with Classover in $135M Deal

May 14, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Battery Future (NYSE:BFAC) has entered into a definitive agreement to combine with edtech firm Classover at an enterprise value of $135 million. New York-based Classover provides an online tutoring and remote learning platform for K12 students. The combined company is expected to trade on the NYSE once the deal is completed in the second half
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Morning SPAC News Roundup: May 14, 2024

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

At the SPAC of Dawn The second shoe to drop from last week’s big closing votes came in late in the afternoon yesterday, confirming that Screaming Eagle (NASDAQ:SCRM) shareholders approved its combination with Lionsgate Studios and the new entity will begin trading later today. The SPAC does not appear to have met its commitment to
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New SPAC: Chenghe Acquisition II Co. (CHEB.U) Files for $75M IPO

May 13, 2024 Headline Post, INTEL, New S-1 Filings by Kristi Marvin

May 2024 is turning into the “Month of Serial Sponsors” with two IPOs already priced from repeat teams (Churchill IX and GP-Act III) and a third from the RF II team on deck. And today, we have another serial sponsor team filing for a new offering with the addition of Chenghe Acquisition II Co. (CHEB.U).
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Amprius Technologies (AMPX) Temporarily Drops Warrant Exercise Price to $1.10

May 13, 2024 Headline Post, INTEL by Nicholas Alan Clayton

Amprius (NYSE:AMPX) announced this morning that it will allow holders of its 29,268,236 outstanding public warrants to exercise them at a cash price of $1.10 per warrant until 5 pm ET June 11. The lithium-ion battery maker embarked on the move in order to pull in working capital as well as address its warrant overhang.
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Morning SPAC News Roundup: May 13, 2024

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

At the SPAC of Dawn While Trump Media (NASDAQ:DJT) appears to be exempt from the laws of physics, the pull of gravity does still have a bearing on other de-SPACs. That now includes nuclear fission firm Oklo (NYSE:OKLO) whose price performance through the endgame of its closing process was in many ways exceptional. It coasted
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SPAC IPO Terms Tracker: May 10, 2024

May 11, 2024 Headline Post, INTEL by Kristi Marvin

Terms Tracker for the Week Ending May 10, 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 second week in a row SPACs priced an IPO, this time coming from Cantor as underwriter. GP-Act III Acquisition Corp., which matched last
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New SPAC: YHN Acquisition I Limited (YHNAU) Files for $60M IPO

May 10, 2024 Headline Post, INTEL, New S-1 Filings by Nicholas Alan Clayton

YHN I (NASDAQ:DTSQU) has filed for a $60 million IPO today and brought with it a number of questions, chief among them: who is their underwriter? This is the first entry into SPAC underwriting for Lucid Capital Markets, a firm that does not appear to have a web presence or much of an existing reputation
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WinVest Acquisition Corp. (WINV) to Combine with Xtribe in $141M Deal

May 10, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

WinVest (NASDAQ:WINV) has entered into a definitive agreement to combine with ecommerce platform Xtribe at an equity value of $141 million. London-based Xtribe provides an ecommerce and ad-targeting marketplace connecting buyers and sellers in their local areas. The combined company is expected to trade on the Nasdaq once the deal is completed in late 2024.
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Morning SPAC News Roundup: May 10, 2024

May 10, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn The long drought of new SPAC deals broke yesterday evening with WinVest‘s (NASDAQ:WINV) announcement of a $141 million ecommerce deal. It came exactly one month after the last deal, Blockchain Coinvestors‘ (NASDAQ:BCSA) announced tie-up with fintech Linqto. Before this, the SPAC market had scarcely gone two weeks without a fresh
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Timing Could Help or Hurt Thunder Bridge IV (THCP) as It Advances Coincheck Deal

May 9, 2024 De-SPAC Votes and Redemptions, Headline Post, INTEL by Nicholas Alan Clayton

Thunder Bridge Capital Partners IV (NASDAQ:THCP) this week announced it believes it is nearing an SEC approval for its combination with Japanese crypto market place Coincheck, enough so that it aims to make it file its first public registration statement after previously filing them confidentially. Progress on the deal is surely welcome as it is
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Morning SPAC News Roundup: May 9, 2024

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

At the SPAC of Dawn With the pricing of GP-Act III (NASDAQ:GPATU) this morning, May has already become the second most productive month for SPAC IPOs with two. February saw three get through, but the pair of May SPAC IPOs is encouraging both because they come just nine days into the month and follow a
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GP-Act III Acquisition Corp. (GPATU) Prices $250M IPO

May 9, 2024 Headline Post, INTEL, IPOs by Nicholas Alan Clayton

GP-Act III (NASDAQ:GPATU) announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GPATU”, Thursday, May 9, 2024. The new SPAC has not set a particular industry to focus its target search on, but aims to find a trendy target valued at between
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AltC (ALCC), Screaming Eagle (SCRM) Both Rise Following Votes

May 8, 2024 De-SPAC Votes and Redemptions, Headline Post, INTEL by Nicholas Alan Clayton

Only one of the two SPACs holding completion votes on major deals yesterday has released its results, but investors have reacted in real time by buying up shares in each despite both of their host exchanges being overall down on the day. AltC (NYSE:ALCC) secured shareholder approval for its combination with nuclear fission firm Oklo
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Morning SPAC News Roundup: May 8, 2024

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

At the SPAC of Dawn The results are in for the first of yesterdays’ two big completion votes, and it appears set to finish with one of the best redemption results of any completion vote over the last two years. Only two SPACs have gotten all the way through their de-SPACing process since January 1,
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Updated Critical Metals (CRML) Presentation Points to Pivotal Year in 2024

May 7, 2024 Headline Post, INTEL by Nicholas Alan Clayton

Rare earth miner Critical Metals (NASDAQ:CRML) dropped a new presentation today, providing its most significant update since completing its combination with Sizzle in February. The document points to 2024 being a potentially pivotal year for the firm as it cleared major development hurdles in getting preparing the ground for its Wolfberg lithium mine in Austria,
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Morning SPAC News Roundup: May 7, 2024

May 7, 2024 SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn Today is the busiest day for SPACs in at least a month as three SPACs will hold extension votes and three more are seeking deal approval. Those completion votes will each bear watching and they include two of the most prominent deals of the past six months. Screaming Eagle (NASDAQ:SCRM)
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