This week ends with an unusually busy earnings calendar as 172 US-listed companies report quarterly figures today. Among them is Exela Technologies (NASDSAQ:XELA), which completed a combination with Quinpario 2 in 2017.
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10X Capital Venture Acquisition Corp. II (NASDAQ:VCXA) announced that it has completed its business combination with African Agriculture after shareholders approved the deal at a special meeting held on December 5.
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The latter half of 2023 has largely told a story of retrenchment in the SPAC market as much of the excess in the domain has found itself terminating and liquidating.
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Perception Capital Corp IV (NYSE:RCFA) has entered into a definitive agreement to combine with mining firm Blue Gold for $114.5 million in equity consideration.
London-based Blue Gold has been developed as a platform to acquire gold mining assets in Ghana.
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This week, we speak with iLearningEngine’s CEO Harish Chidambaran and Matt Safaii, Chairman and CEO of Arrowroot Acquisition Corp. (Nasdaq: ARRW). The two announced a $1.4 billion deal in April.
AI may be the major buzzword of 2023, but iLearningEngines has been working on AI tools since 2010.
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SPACs continue to love EVs, but the Biden administration is throwing cold water on at least some of the party as the US will no longer offer a $7,500 tax credit for EV purchases if their battery was produced in China.
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Clean Earth Acquisitions Corp. (NASDAQ:CLIN) announced this morning that its shareholders have approved its business combination with climate technology company Alternus (OSE:ALT) at a special meeting held on December 4.
At the meeting, holders of 14,418,460 shares, were present, representing approximately 86.32% of the voting power of the 16,704,230 issued and outstanding common stock entitled to vote.
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10X Capital Venture Acquisition Corp. II (NASDAQ:VCXA) announced this afternoon that its shareholders have approved its business combination with African Agriculture at a special meeting held earlier today.
Approximately 82% of all of the 10X II ordinary shares entitled to vote at the meeting were present, with more than 99% of those voting to approve the transaction.
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With Hanukkah kicking off the winter holiday season at the end of the week, SPACs are tying up a fair amount of loose ends through the next few days.
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Dune Acquisition Corporation (NASDAQ:DUNE) announced this afternoon that its shareholders have approved its business combination with sustainable energy firm Global Hydrogen at a special meeting held earlier today.
At the meeting, a total of 4,610,347 shares of common stock were represented by proxy.
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TMT Acquisition Corp. (NASDAQ:TMTC) has entered into a definitive agreement to combine with eLong Power at an equity value of $450 million.
Ganzhou, China-based eLong Power makes lithium-ion batteries for EVs and specialty vehicles along with energy storage systems.
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APx Acquisition Corp. (NASDAQ:APXI) announced a letter of intent to combine with an unnamed biotech firm, but teased little other information as it heads into an extension vote on Friday.
Shareholders at the meeting are to decide whether to give APx the ability to extend its transaction deadline to a maximum of December 9, 2024 in exchange for monthly contributions of the lesser of $125,000 or $0.025 per share monthly.
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This week, we get into both sides of a SPAC transaction in the form of Kirk Taylor. He helped steer American Acquisition Opportunity and now serves as CFO of Royalty Management Holdings (Nasdaq: RMCO), with which the SPAC merged in early November.
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Although cryptocurrencies and SPACs are not directly related in any way beyond the 11 announced and completed deals in the space, the two have coincidentally seen their stars rise and fall virtually in concert over the past few years.
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