Morning SPAC News Roundup: January 29, 2024
At the SPAC of Dawn
SPAC activity is picking back up this week in between the dust settling on the SEC’s new SPAC rule and the Fed breaking its silence on potential rate cuts Wednesday.
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SPAC IPO Terms Tracker: January 26, 2024
Terms Tracker for the Week Ending January 26, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. The major focus this past week was on Wednesday’s SEC meeting about the new SPAC rule. Now that it’s been released, and much of theRead More
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Podcast Replay: Breaking Down the New SEC SPAC Rules
In this special edition of the SPACInsider podcast on the new SEC SPAC rules, Kristi Marvin from SPACInsider spoke with a panel of SPAC legal experts to help unpack the hefty 581 pages included in the release.
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Morning SPAC News Roundup: January 26, 2024
At the SPAC of Dawn
The Fed got more evidence of cooling inflation this morning as the Commerce Department’s personal consumption expenditures (PCE) price index came in just under expectations for December.
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Northern Star Investment Corp. II (NSTB) to Liquidate Trust, Keep Trading as Shell
Northern Star Investment Corp. II (NYSE:NSTB) has announced that it would liquidate its trust, but will also make the unorthodox move to continue functioning as a shell listed on the pink sheets.
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Newcourt Acquisition Corp. (NCAC) Closes Psyence Deal
Newcourt (NASDAQ:NCAC) has closed its combination with psychedelic medicine company Psyence (CSE:PSYG) and will begin trading on The Nasdaq under the new ticker symbol ticker symbol “PBM” on January 26.
Shareholders previously approved the combination during a special meeting held on January 18.
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Deep Medicine Acquisition Corp. (DMAQ) Shareholders Approve TruGolf Deal
Deep Medicine (NASDAQ:DMAQ) announced this afternoon that its shareholders approved its combination with golf simulator company TruGolf during a special meeting on January 19.
At the meeting, holders of 3,952,979 shares of DMAQ’s Class A common stock were present, constituting a quorum.
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REPLAY: Breaking Down the New SPAC Rule
REPLAY: For those that missed today’s live webinar, you can find a replay of the broadcast here:
Live Q&A to Follow with Our Panel of Legal Experts
Join us on Thursday, January 25, at 2:00 PM (ET)
After almost two years since it was first proposed, the SEC will be holding a meeting on Wednesday, January 24th, at 10AM, to consider changes to the current SPAC rules.
Morning SPAC News Roundup: January 25, 2024
At the SPAC of Dawn
Earlier this week, CSLM Acquisition Corp. (NASDAQ:CSLM) announced a combination with AI software firm Fusemachines, but offered few financial details in the announcement press release.
It has since filed its merger documents and they include some terms that are becoming more common in SPAC transactions.
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ESGEN Acquisition Corp.(ESAC) Cuts Sunergy Valuation in Deal Tweak
ESGEN Acquisition Corp. (NASDAQ:ESAC) announced this morning that it has amended its combination with residential solar company Sunergy, shrinking its valuation while adding committed funding.
Under the revised terms of the transaction, ESGEN’s sponsor has committed to buying $15 million in convertible preferred equity securities.
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Live Webinar: Breaking Down the New SPAC Rule
Reminder: Today’s Webinar will begin at 2:00 PM (ET). If you’d like to participate, you can find the registration link HERE.
Live Q&A to Follow with Our Panel of Legal Experts
Join us on Thursday, January 25, at 2:00 PM (ET)
After almost two years since it was first proposed, the SEC will be holding a meeting on Wednesday, January 24th, at 10AM, to consider changes to the current SPAC rules.
Welsbach Technology Metals Acquisition Corp. (WTMA) Inks LOI with Evolution Metals
Welsbach Technology (NASDAQ:WTMA) has signed a non-binding letter of intent (LOI) to combine with mining firm Evolution Metals for so far unspecified terms.
Palm Beach, Florida-based Evolution is developing both mining and refining capabilities to process battery and rare earth metals for a wide range of technology applications.
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Global System Dynamics Inc (GSD) Terminates DarkPulse Deal
Global System (NASDAQ:GSD) announced in an 8-K filing this morning that it has mutually terminated its combination with smart cities technology company DarkPulse (OTC:DPLS).
The move came after it received notice that Nasdaq would de-list its shares, following a back-and-forth over the SPAC’s failure to hold an annual meeting for the 2022 fiscal year.
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Morning SPAC News Roundup: January 24, 2024
At the SPAC of Dawn
The SEC has voted 3-2 to approve new rules for SPACs in a meeting that was occasionally adversarial with Commissioners Hester Peirce and Mark Uyeda dissenting against the proposal.
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SEC Meeting Regarding the New SPAC Rule is Changed to 9:15 AM (ET)
In case you missed it, the SEC moved their meeting tomorrow regarding the new SPAC rule.
The meeting will now be held at 9:15AM (ET).
You can find the details of the meeting HERE along with the time change notice.
CSLM Acquisition Corp. (CSLM) to Combine with Fusemachines in $200M Deal
CSLM (NASDAQ:CSLM) has entered into a definitive agreement to combine with AI software company Fusemachines at an equity valuation of $200 million.
New York-based Fusemachines provides enterprise software for firms looking to optimize their business processes with AI-based tools.
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Morning SPAC News Roundup: January 23, 2024
At the SPAC of Dawn
Another day, another US election primary, this time in New Hampshire.
But, as SPACInsider examined some of the boosts that conservative values-aligned SPACs and de-SPACs have experienced as election season kicked off, the next 24 hours will see that enthusiasm go head-to-head with the trepidation about what might come out of tomorrow’s SEC meeting on potential new SPAC rule changes.
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Capitalizing on Values: The Rise of Conservative-Driven SPAC Deals
Over the last few years, a discernible trend has emerged as a select group of SPACs have set their focus on combining with conservative and “patriotic” targets, which have generated retail traction like few other sectors since early in the last SPAC cycle.
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Morning Roundup: January 22, 2024
At the SPAC of Dawn
The start of the Fed’s quiet period, which is to last until the beginning of February, has been positive for the market so far, but a less productive silence may build around the SEC’s Wednesday meeting on SPAC rule changes.
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Podcast: Michael Zacharski, CEO of BEN & Chris Gaertner, Co-CEO of DHC
AI was one of the big themes for SPACs in 2023. Now in 2024, investor appetite and the market opportunity around AI is just as strong.
This week, we speak with Michael Zacharski, CEO of BEN and Chris Gaertner, Co-CEO and CFO of DHC Acquisition Corp.
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