Morning Roundup: November 27, 2023
At the SPAC of Dawn
After mixed signals for the consumer sector earlier this month, initial Black Friday sales numbers have shown that Americans were not too stuffed for a shopping spree this year.
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SPAC IPO Terms Tracker: November 24, 2023
Terms Tracker for the Week Ending November 24, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This being the Thanksgiving holiday week, we are thankful for a lot of things, but mostly that 2023 is almost over. It’s been a roughRead More
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Morning Roundup: November 24, 2023
At the SPAC of Dawn
Though perhaps stuffed to the brim, SPAC activity continues this Thanksgiving Friday with votes by Clean Earth and Zalatoris to extend a deadline and amend trust contributions, respectively.
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New SPAC: IB Acquisition Corp. Files for $100M IPO
IB Acquisition Corp. submitted its S-1 filing Friday afternoon for a $100 million IPO, coming right on the heels of Bayview Acquisition Corp, which also filed its S-1 that day. IB is also similar to Bayview in that its units do not feature a warrant but include 1 right for 1/10. However, its trust is slightlyRead More
Integrated Wellness Acquisition Corp (WEL) Sells Sponsor Economics
Integrated Wellness (NYSE:WEL) announced in an 8-K filing that it agreed to transfer control of its sponsor to Sriram Associates, which will now take on the SPAC’s financial obligations and may appoint a new team.
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Morning Roundup: November 22, 2023
At the SPAC of Dawn
So far, seven SPACs have announced their liquidations this week and although some others may choose to use the holiday to quietly disband, this tends to be a positive week for equities in general.
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Marti (MRT) Commences Warrant Exchange Offer
Marti Technologies, Inc. (NYSE:MRT), which merged with Galata Acquisition Corp. in July, announced this afternoon that it has launched an exchange offer to purchase its Class A ordinary shares for $0.10 in cash.
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Global Partner Acquisition Corp. II (GPAC) to Combine with Stardust Power in $490M Deal
Global Partner Acquisition Corp. II (NASDAQ:GPAC) has entered into a definitive agreement to combine with lithium manufacturer Stardust Power for a pro forma implied enterprise value of $490 million. Greenwich, Connecticut-based Stardust Power is a development stage manufacturer of battery-grade lithium products designed to supply the EV industry and help secure America’s leadership in the energy transition.Read More
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Genesis Growth Tech Acquisition Corp. (GGAAF) to Combine with Mind Maze
Genesis Growth Tech (OTC Pink:GGAAF) disclosed in a 8-K filing that it has entered into a definitive agreement to combine with digital therapeutics firm Mind Maze in a $21 million deal to purchase the company’s intellectual property. Lausanne, Switzerland-based Mind Maze is developing digital therapeutics to delivery neurological treatments through video game-like interfaces. Transaction OverviewRead More
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Morning Roundup: November 21, 2023
At the SPAC of Dawn
Crypto has been a popular, but a somewhat niche sector for SPACs in recent years that appeared to have fallen out of favor as scandals rocked major exchanges and prices for major cryptocurrencies and tokens plummeted.
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Colombier Acquisition Corp. II (CLBR.U) Prices Upsized $150M IPO
Colombier Acquisition Corp. II (NYSE: CLBR.U) announced the pricing of its upsized $150 million IPO this evening. Its units are expected to begin trading on the NYSE under the symbol “CLBR.U”
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Mountain Crest Acquisition Corp. IV (MCAF) Shareholders Approve CH-AUTO Deal
Mountain Crest Acquisition Corp. IV (NASDAQ:MCAF) announced this afternoon that its shareholders have approved its business combination with CH-AUTO.
At today’s meeting, there were 2,958,185 shares of common stock present, representing approximately 89.25% of the issued and outstanding shares, constituting a quorum.
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New SPAC: Bayview Acquisition Corp. Files for $50M IPO
Bayview Acquisition Corp. (NASDAQ:BAYA) submitted its S-1 filing Friday afternoon for a $50 million IPO with a primary focus on businesses in Asia. The new SPAC states that it sees Asia transitioning into a new phase of economic development, foreseeing promising opportunities for a business combination. They anticipate this growth to stem from private sectorRead More
More Swiftonomics? DraftKings (DKNG) Returns to Two-Year High
Plenty of stocks are rebounding this month as the market broadly rallies on signs that the age of rate hikes is ending, but DraftKings (NASDAQ:DKNG) is on an uncommonly sharp trajectory among recent de-SPACs.
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Morning Roundup: November 20, 2023
At the SPAC of Dawn
Public companies of all stripes tend to bury news ahead of holidays and SPACs are no different.
Four SPACs have announced their intent to liquidate since market close on Friday and three of these had previously agreed to business combinations.
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SPAC IPO Terms Tracker: November 17, 2023
Terms Tracker for the Week Ending November 17, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. SPACs saw another IPO this week from Global Lights Acquisition Corp. (Nasdaq: GLACU), the $60 million offering from Chardan, which had an impressive first dayRead More
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Bellevue Life Sciences Acquisition Corp. (BLAC) to Combine with OSR Holdings
Bellevue Life Sciences (NASDAQ:BLAC) has entered into a definitive agreement to combine with Korean healthcare holding company OSR for undisclosed compensation.
Seoul-based OSR is a conglomerate of several biotech firms advancing drug candidates as well as a medical device distributor.
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Morning Roundup: November 17, 2023
At the SPAC of Dawn
A largely positive week is coming to end with a summit that appears to have brought an autumn chill to simmering tensions between the US and China.
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Morning Roundup: November 16, 2023
At the SPAC of Dawn
With the S&P 500 rolling into a two-month high on the back of positive inflation numbers, all hopes have to be for nothing too concerning coming out of a still-packed end of the week.
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HNR Acquisition Corp. (HNRA) Completes Pogo Resources Deal
HNR Acquisition Corp. (NYSE:HNRA) announced this afternoon that it has completed its business combination with oil developer Pogo Resources.
The deal was originally approved by shareholders at a meeting held on November 13 and stockholders holding 4,063,777 shares out of a possible 4,509,403 shares of HNRA’s common stock exercised their right to redeem their shares.
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