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Afternoon SPAC News Roundup: February 26, 2024

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SPAC-Terms-Tracker

SPAC IPO Terms Tracker: February 23, 2024

Feb 24, 2024 Headline Post, INTEL by Kristi Marvin
Terms Tracker for the Week Ending February 23, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As expected, new issuance filings were quiet this week.  But, deal announcements were surprisingly active.  Four more SPACs announced combinations in a shortened holiday week
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Did Pyrophyte Acquisition Corp (PHYT) Just Hit a Roadblock or Opportunity in Manitoba?

Feb 23, 2024 Headline Post, INTEL by Nicholas Alan Clayton
Pyrophyte (NYSE:PHYT) faced a major regulatory setback for its combination with mining firm Sio Silica this week, but a recent analogous SPAC deal could provide some encouragement for a path forward. Sio Silica is working to develop a high-grade silica mine in the Vivian Sands outside Winnipeg, Canada and it inked the $708 million combination
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SPAC round-up

Afternoon SPAC News Roundup: February 23, 2024

Feb 23, 2024 SPACs in the News by Nicholas Alan Clayton
News and Rumors JD Supra: Securities class action lawsuits against SPACs and de-SPACs increased only slightly in 2023 with 27 after 2022 saw 24 and 2021 – 33. Lawsuits concerning the de-SPACing process itself dropped precipitously, however, representing just 21% of cases as compared to 69% in the previous two years and 80% in 2020.
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Morning SPAC News Roundup: February 23, 2024

Feb 23, 2024 SPACs in the News by Nicholas Alan Clayton
At the SPAC of Dawn SPACs have officially landed on the Moon. Despite a few last-minute delays and minor malfunctions, Intuitive Machines’ (NASDAQ:LUNR) Odysseus lander made the first soft landing on the Moon since 1972 and the first ever by a commercial enterprise. Three other private missions to the moon have failed in recent years
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Moringa Acquisition Corp. (MACA) to Combine with Silexion in $62M Deal

Feb 22, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton
Moringa (NASDAQ:MACA) has entered into a definitive agreement to combine with clinical-stage biotech firm Silexion at a pre-transaction equity value of $62.5 million. Modi’in-Maccabim-Reut, Israel-based Silexion is developing a range of potential cancer treatments with its most advanced efforts targeting pancreatic cancer. The combined company is expected to trade on the Nasdaq once the deal
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SPAC round-up

AltEnergy Acquisition Corp. (AEAE) to Combine with Car Tech in $80M Deal

Feb 22, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton
AltEnergy (NASDAQ:AEAE) has entered into a definitive agreement to combine with automotive parts manufacturer Car Tech at a yet undisclosed enterprise value. Opelika, Alabama-based Car Tech manufactures stamped metal parts that make up automotive chassis and bodies for car makers. The combined company is expected to trade on the Nasdaq once the deal is completed
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Morning SPAC News Roundup: February 22, 2024

Feb 22, 2024 SPACs in the News by Nicholas Alan Clayton
At the SPAC of Dawn Once upon a time, Lucid (NASDAQ:LCID) and its SPAC partner Churchill IV, were the darlings of retail investors and meme stock traders, but a new de-SPAC has emerged with promises of zooming investors to the moon. Intuitive Machines (NASDAQ:LUNR), which combined with Inflection Point in February 2023, today aims to
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Regular-Way IPO Performance Provides Positive Consumer Hints, Mixed Signals Elsewhere

Feb 21, 2024 Headline Post, INTEL by Nicholas Alan Clayton
This year has been heralded as the year that the dam would finally break on the backlog of IPO candidates seeking to take the regular way to the public markets. So far, that has been the case with 22 companies pricing regular way IPOs after just 58 did so in all of 2022 and 101
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SPAC round-up

Afternoon SPAC News Roundup: February 21, 2024

Feb 21, 2024 SPACs in the News by Nicholas Alan Clayton
News and Rumors PR: Joby (NYSE:JOBY) has become the first eVTOL developer to complete the third of five stages for the Federal Aviation Administration’s (FAA) type certification process. Earlier this month it received the FAA’s Part 145 maintenance certificate laying the foundation for future repair services of its aircraft models. Joby combined with Reinvent Technology
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SDCL EDGE Acquisition Corporation (SEDA) to Combine with cunova in $736M Deal

Feb 20, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton
SDCL EDGE (NYSE:SEDA) has entered into a definitive agreement to combine with copper alloy manufacturer cunova at an enterprise value of $736 million, or 9.4x its 2023E adjusted EBITDA. Osnabrück, Germany-based cunova manufactures copper casts, fittings and conductivity products for the industrial, defense and aerospace sectors. The combined company is expected to trade on the
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SPAC round-up

Afternoon SPAC News Roundup: February 20, 2024

Feb 20, 2024 SPACs in the News by Nicholas Alan Clayton
Deals and Funding Power & Digital (NASDAQ:XPDB) has secured a $10 million investment from Rice Investment Group into its combination with HVAC technology firm Montana under undisclosed terms. two (NYSE:TWOA) has secured a $15 million PIPE at $10 per share for its combination with LatAm Logistic Properties. News and Rumors PR: Adtech firm Banzai International
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Acri Capital Acquisition Corporation (ACAC) to Combine with Foxx Development in $50M Deal

Feb 20, 2024 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton
Acri Capital (NASDAQ:ACAC) has entered into a definitive agreement to combine with electronics manufacturer Foxx for $50 million in share compensation. Texas-based Foxx provides communication terminals and IoT services to the telecom sector as well as consumer electronics for retail buyers. The combined company is expected to trade on the Nasdaq once the deal is
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SPAC round-up

Afternoon SPAC News Roundup: February 16, 2024

Feb 16, 2024 SPACs in the News by Nicholas Alan Clayton
It may be a photo finish for top SPAC underwriter in 2024 if SPACInsider‘s readers are correct. In this week’s Let’s Settle This poll, respondents were split with equal numbers predicting Cantor or EF Hutton to price the most SPAC IPOs by year’s end. A roughly equal number of respondents predicted six other underwriters could
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