The Latest SPAC News and Rumors: September 12, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
M3-Brigade Acquisition III Corp. (MBSC) Secures Approval for Greenfire Resources Deal, Warrant Agreement
M3-Brigade III (NYSE:MBSC) announced in an 8-K this morning that its shareholders have approved its combination with Canadian energy producer Greenfire while warrant holders approved a proposal to buy back all outstanding warrants.
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Welsbach Technology Metals Acquisition Corp. (WTMA) Signs LOI
Welsbach Technology Metals Acquisition Corp. (NASDAQ: WTMA) announced this afternoon that it has signed a non-binding letter of intent (LOI) to combine with an undisclosed target in the critical materials space for, so far, undisclosed terms.
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First Light Acquisition Group (FLAG) Completes Calidi Deal
Sep 11, 2023
De-SPAC Votes and Redemptions, Deal Announcements & Amendments, Headline Post, INTEL by Marlena Haddad
First Light Acquisition Group, Inc. (NYSE:FLAG) announced this afternoon that it expects to close its business combination with Calidi Therapeutics tomorrow, September 12.
The deal was already approved by FLAG shareholders during a special meeting on September 1, but at that time, the parties did not share a proposed timeline for the transaction’s closing.
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The Growth for Good Acquisition Corp. (GFGD) Adjourns Completion Vote to Sept. 12
The Growth for Good Acquisition Corporation (NASDAQ: GFGD) disclosed in a press release today that it has adjourned its special meeting for the seventh time.
Shareholders were expecting to cast their votes on the SPAC’s combination with EV-maker ZeroNox, but the parties are now considering terminating the deal due to the amount of redemption requests. It
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Graf Acquisition Corp. IV (GFOR) Adjourns NKGen Completion Vote Again
Graf Acquisition Corp. IV (NYSE:GFOR) announced this morning that it adjourned its Friday vote to complete its business combination with NKGen Biotech and will reconvene it at 4 pm September 13.
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The Latest SPAC News and Rumors: September 11, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lotus Robotics designated by leading automakers to license its driving solutions and VinFast’s rally burns traders playing greater fool theory
Lotus Robotics Designated by Leading Automakers to License its Intelligent Driving Solutions
Lotus Technology Inc.
Prime Impact Acquisition I (PIAI) Adds $13M PIPE to Cheche Deal
Prime Impact I (NYSE:PIAI) announced this morning that investors have subscribed to a PIPE in its combination with digital insurance firm Cheche buying 1,300,000 for $10 per share.
The investors were not named, but the PIPE would cover the deal’s $5 million minimum cash condition as it heads into its approval vote.
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Pono Capital Two (PTWO) Cuts Valuation in Re-Strike for SBC Medical Group
Pono Capital Two (NASDAQ:PTWO) announced in an 8-K this morning that it has dropped its valuation in its combination with SBC Medical Group to $1 billion from $1.2 billion.
The wording of the filing does not provide a clear causality for the change, but both versions provided for up to $3 million in equity compensation being removed based on the company’s net working capital at close.
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SPAC IPO Terms Tracker: September 8, 2023
Terms Tracker for the Week Ending September 8, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. It was a short week post-Labor Day weekend, which resulted in another quiet week on the filings front. There were no IPOs were priced, norRead More
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The Growth for Good Acquisition Corp. (GFGD) Adjourns Completion Vote to Sept. 11
The Growth for Good Acquisition Corporation (NASDAQ: GFGD) disclosed in a press release today that it has again adjourned its special meeting. This marks the sixth postponement for shareholders to cast their votes on the SPAC’s combination with EV-maker ZeroNox.
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Zalatoris Acquisition Corp. (TCOA) to Combine with AnyTech365, J. Streicher in $220M Deal
Zalatoris Acquisition Corp. (NYSE:TCOA) has entered into a definitive agreement to combine with IT firm AnyTech365 and J. Streicher for $220 million in equity compensation. Málaga, Spain-based AnyTech365 provides technical support-as-a-service (TSaaS) in Europe and the US while J. Streicher is a New York-based financial services firm. Transaction overview Zalatoris has about $65.9 million inRead More
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The Latest SPAC News and Rumors: September 8, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: US judge says Okada Manila does not have to close merger, and Lotus unveils electric sedan
US judge won’t order Philippine casino merger to close
The Philippines’ largest casino, owned by an affiliate of Japan’s Universal Entertainment Corp does not have to complete a SPAC merger deal with 26 Capital Acquisition Corp.
DHC Acquisition Corp. (DHCA) to Combine with BEN in $358M Deal
DHC (NASDAQ:DHCA) has entered into a definitive agreement to combine with marketing firm BEN at a pro forma enterprise value of $358 million.
Jackson, Wyoming-based BEN has developed AI-enhanced customer engagement services for enterprise clients in the automotive, healthcare and financial services sectors.
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The Latest Non-Redemption Agreements: September 7, 2023
Latest Non-Redemption Agreements: FTAC Emerald
FTAC Emerald Acquisition Corp. (EMLD) Adds Non-Redemption Agreement
On September 7, FTAC Emerald Acquisition Corp. (NASDAQ:EMLD) entered into one or more agreements with one or more unaffiliated third parties in exchange for them each agreeing not to redeem an aggregate of 1,000,000 shares of Class A common stock.
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Murphy Canyon Acquisition Corp. (MURF) Further Postpones Completion Vote
Murphy Canyon Acquisition Corp. (NASDAQ:MURF) announced this afternoon that its special meeting, scheduled for September 13, has been postponed to September 20 at 10:00 a.m., marking the SPAC’s second postponement.
As a result of this change, Murphy Canyon has also extended the redemption deadline for holders of its common stock to 5:00 p.m.
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The Latest SPAC News and Rumors: September 7, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Falcon’s Beyond and K11 plan to launch new entertainment franchises across China, WeWork to initiate renegotiations for almost all leases, and One Energy announces commercial operations of first Megawatt Hub
Global Entertainment Enterprise Falcon’s Beyond and Hong Kong-Based Cultural Commerce Giant K11 Group Plan to Launch New Entertainment Franchises and Attractions Across China
Falcon’s Beyond, a diversified global entertainment, consumer experience, and technology enterprise that accelerates intellectual property (IP) activations concurrently across physical and digital experiences, has announced its debut project as part of its joint venture with Raging Power Limited, an arm of K11 Group, the Hong Kong-based cultural commerce giant.
Energem Corp. (ENCP) Tweaks Lock-Ups for Graphjet Deal
Energem Corp. (NASDAQ:ENCP) announced in an 8-K this morning that it has shortened the lock-up for the SPAC’s sponsor while extending it for other parties in the Graphjet combination.
Energem’s sponsor originally was to be locked for one year following close with an early release available only if the combined company traded at or above $12 for 20 of 30 trading days at least 150 days out from close, while company shareholders were all beholden to a six-month lock-up.
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Rosecliff Acquisition Corp. I (RCLF) Shareholders Approve Spectral MD Deal
Rosecliff Acquisition Corp. I (NASDAQ:RCLF) announced in an 8-K this morning that its shareholders approved its combination with medtech firm Spectral MD (AIM:SMD) at a special meeting yesterday.
Although all proposals on the ballot were approved by wide margins, an additional 211,136 shares were redeemed in connection with the vote, reducing Rosecliff I’s trust to about $2.6 million with 247,580 public shares outstanding.
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Crixus BH3 Acquisition Company (BHAC) Reverses Decision to Liquidate
After announcing its intent to liquidate on August 30, Crixus BH3 Acquisition Company (NASDAQ:BHAC) disclosed this afternoon that it has reversed its decision to dissolve its trust.
Crixus BH3’s board determined that it is in the best interest of the company and its stockholders to continue its pursuit of a target to combine with.
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