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EG Acquisition Corp. (EGGF) Secures Shareholder Approval for flyExclusive, Postpones Close

Dec 20, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Nicholas Alan Clayton

EG Acquisition Corp. (NYSE:EGGF) shareholders approved its combination with private aviation firm flyExclusive, but the SPAC has delayed its scheduled takeoff into the public markets.

The SPAC had previously expected the transaction to close today, but it is still on the tarmac as its application to list on the NYSE American is still under review and it is waiting for all closing conditions to be waived or satisfied.

SPAC-morning-roundup

Morning Roundup: December 20, 2023

Dec 20, 2023 Headline Post, INTEL, SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn

“Go north, young man” could be the new refrain for EV companies looking to growth as Canada this week passed a law requiring all new vehicles to be emissions-free by 2035.

ici-infrared-cameras

SportsMap Tech (SMAP) Closes Infrared Cameras Holdings Deal

Dec 20, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

SportsMap Tech Acquisition Corp. (NASDAQ:SMAP) announced this morning that it has closed its combination with intelligent thermal imaging provider Infrared Cameras Holdings (ICI).

Shareholders originally approved the combination during a meeting held on December 8.

Brilliant (BRLI) Shareholders Approve Nukkleus Deal

Dec 19, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

Brilliant Acquisition Corp. (NASDAQ:BRLI) announced this afternoon that its shareholders approved its business combination with crypto payments firm Nukkleus during a special meeting held on December 13.

The SPAC originally initiated its special meeting on December 1, at which time the chairman adjourned the meeting to December 13.

ProSomnus (OSA) Shoots Up on Validating Study Results

Dec 19, 2023 Headline Post, INTEL by Nicholas Alan Clayton

Like many de-SPACs working their way through commercialization, ProSomnus (NASDAQ:OSA) has spent the first year of its public company life dealing with the turnover of shareholders coming out of the de-SPAC process and waiting for a patch of good news to generate some upward momentum.

Banyan Acquisition Corp. (BYN) Signs Term Sheet for $50M in Notes Funding

Dec 19, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Banyan (NYSE:BYN) has signed a non-binding term sheet for $50 million in convertible notes on a five-year term for its combination with hospitality venture Pinstripes.

These are to be issued no later than December 29 and the parties expect the business combination will close by then.

Innovative International (IOAC) Adds $5M to Zoomcar Deal

Dec 19, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

Innovative International Acquisition Corp. (NASDAQ:IOAC) announced in an 8-K this morning that it has entered into a subscription agreement with Ananda Trust, an affiliate of the sponsor, ahead of its completion vote for its merger with car-sharing program Zoomcar.

Prospector Capital (PRSR) Shareholders Approve LeddarTech Deal

Dec 19, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

Prospector Capital Corp. (NASDAQ:PRSR) announced this morning that its shareholders approved its business combination with autonomous driving technology firm LeddarTech during a special meeting held on December 13.

Voters representing over 85% of the issued and outstanding ordinary shares of Prospector cast votes in favor of the combination at the meeting.

Chavant Capital (CLAY) Adds $17M PIPE to Mobix Labs Deal

Dec 19, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Nicholas Alan Clayton

Chavant Capital (NASDAQ:CLAY) announced in an 8-K this morning that it has added $16.9 million in PIPE commitments to its merger with semiconductor maker Mobix Labs through a pair of instruments and it is working to tack on more.

Flame Acquisition Corp. (FLME) Expands Sable Offshore PIPE to $180M

Dec 19, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

Flame Acquisition Corp. (NYSE:FLME) has expanded the PIPE for its combination with Sable Offshore to $180.4 million, making it the year’s largest.

The new investments by Metamorphic Pecan match those made by investors in the deal’s existing $74.5 million in PIPE commitments at $10 per shares.

SPAC-morning-roundup

Morning Roundup: December 19, 2023

Dec 19, 2023 Headline Post, INTEL, SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn

With 282 SPACs holding pending deals or still searching for a target and 37 more on file, it’s hard to say that the SPAC boom has run its course, but there have been increasing signs that the cycle is beginning to come full circle as 2023 comes to an end.

Chavant Capital (CLAY) Shareholders Approve Mobix Labs Deal

Dec 18, 2023 De-SPAC Votes and Redemptions, Headline Post, INTEL by Marlena Haddad

Chavant Capital Acquisition Corp. (NASDAQ:CLAY) announced this afternoon that its shareholders approved its business combination with Mobix Labs during a special meeting held earlier today.

At the meeting, holders of 2,499,412 ordinary shares of CLAY, representing approximately 89.94% of all of the shares entitled to vote, were present.

Nabors Energy Transition Corp. (NETC) Closes Vast Deal

Dec 18, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

Nabors Energy Transition Corp. (NYSE:NETC) announced this afternoon that it has closed its combination with solar power producer Vast.

Shareholders already approved the deal during a special meeting held on December 13. However, at that time, the parties stated that the closing was contingent on several conditions and did not provide a timeline for the completion of the combination.

Investcorp Europe I (IVCB) Adds $5M Convertible Note to OpSec Deal

Dec 18, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad

Investcorp Europe I (NASDAQ:IVCB) announced this morning that it has entered into a subscription agreement with Sakata in connection to its combination with brand protection firm OpSec.

Under the agreement, Sakata subscribed for five million unsecured convertible loan notes of $1 each for an aggregate purchase price of $5 million.

RMG Acquisition Corp. III (RMGC) Cuts H2B2 Valuation in Deal Tweaks

Dec 18, 2023 Deal Announcements & Amendments, Headline Post, INTEL by Nicholas Alan Clayton

RMG III (NASDAQ:RMGC) slashed its purchase price of hydrogen power firm H2B2 Electrolysis by nearly half in a raft of deal amendments filed today.

H2B2 will now receive a purchase valuation of $400 million, down from $750 million, and RMG III will no longer be required to maintain at least $5 million in cash available in order for the deal to close.

Slam Corp. (SLAM) Signs LOI with Lynk Global

Dec 18, 2023 Deal Announcements & Amendments, INTEL by Marlena Haddad

Slam Corp. (NASDAQ: SLAM) has signed a letter of intent (LOI) to combine with satellite-direct-to-standard-phone telecoms provider Lynk.

Ever since Slam listed in February 2021, curiosity has followed its process due presence in its team of Alex Rodriguez.

Chenghe Acquisition I Co. (LATG) Signs Potential Merger with Femco Steel

Dec 18, 2023 Deal Announcements & Amendments, INTEL by Nicholas Alan Clayton

Chenghe I (NASDAQ:LATG) has signed a potential combination with Taipei-listed golf club manufacturer Femco Steel Technology (TWO:6731) for yet undisclosed consideration.

The parties have not yet released any terms for the agreement, but Femco has an existing market cap of about $45 million.

Podcast: Omeed Malik, Chairman & CEO of the Colombier SPACs

Dec 18, 2023 Headline Post, INTEL, Podcasts & Webinars by Kristi Marvin

This week, in a special edition of the SPACInsider Podcast, SPACInsider founder Kristi Marvin speaks with Omeed Malik, Chairman and CEO of the Colombier SPACs.

We asked Omeed what brought him into the SPAC market and how his first SPAC, Colombier I, navigated the rapidly changing market as it closed in on its combination with PublicSquare (NYSE:PSQH).

SPAC-morning-roundup

Morning Roundup: December 18, 2023

Dec 18, 2023 Headline Post, INTEL, SPACs in the News by Nicholas Alan Clayton

At the SPAC of Dawn

The annual flurry of SPAC activity to complete deals or make extension/liquidation decisions has been in full swing so far in December. But, the one activity missing in action somewhat has been deal announcements themselves.

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SPAC IPO Terms Tracker: December 15, 2023

Dec 16, 2023 Headline Post, INTEL by Kristi Marvin

Terms Tracker for the Week Ending December 15, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. The month of December is typically busy for SPACs and in 2023 this still holds true. While most other areas of the market tend to
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