GO Acquisition Corp. (NYSE:GOAC) announced that it will no longer pursue an initial business combination before its transaction deadline of August 7 and will therefore liquidate its trust.
The SPAC will begin the process of redeeming its common stock and returning capital back to its investors as promptly as practicable following, but not more than 10 business days after, its deadline of August 7, 2022. All
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EJF Acquisition Corp. (NASDAQ:EJFA) announced this afternoon that its shareholders have voted to approve its combination with Israeli fintech firm Pagaya in a special meeting held earlier today.
Although today’s press release was short on details and did not disclose redemption numbers, EJFA traded slightly above its trust value of $10 throughout its redemption deadline June 15.
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Northern Lights (NASDAQ:NLIT) has entered into a redemption backstop agreement for up to $50 million with cannabis fintech provider Safe Harbor to help ensure the maximum redemption threshold condition is met.
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We finally got a new amendment to Bill Ackman’s previously filed Pershing Square SPARC Holdings, allowing us to see the latest iteration of his “new and improved” SPARC product.
If you recall, the first iteration of the SPARC was debuted last summer when Ackman announced his deal with Universal Music Group (“UMG”).
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Circle Internet Financial Ltd.
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SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among sports-focused companies. We look at why they are compelling and why each could be a fit for a blank-check merger.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Crypto companies that have been trying to go public since last year’s boom remain stuck in a lengthy back-and-forth with US regulators, adding to the pile of challenges facing the industry.
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Digital Health (NASDAQ:DHAC) has entered into a definitive agreement to combine with telehealth software firm VSee and digital healthcare provider iDoc to create an entity valued at approximately $110 million.
California-based VSee provides a no code and low code SaaS platform to help physicians set up telehealth applications and Houston-based iDoc has a set of neurological telehealth tools to treat patients suffering from strokes or other brain injuries.
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Sports Venture (NASDAQ:AKIC) announced this morning that it has mutually terminated its combination agreement with technology-enabled visual effects and animation company DNEG.
Similar to a handful of other terminations we’ve seen, the parties decided to terminate the deal due to the headwinds in the SPAC market and general market volatility.
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Waldencast Acquisition Corp. (NASDAQ:WALD) announced this afternoon that it has increased its PIPE by $8 million and entered into a conditional consent in regards to its combination with beauty brands OBAGI and Milk Makeup.
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East Stone Acquisition Corp. (NASDAQ:ESCC) has tacked on another $200 million to its PIPE for its combination with EV-maker ICONIQ, bringing the total PIPE to $400 million.
As background, East Stone brought an estimated $33.5 million into the deal from its current trust and supplemented this with a $200 million PIPE at $10.26 per share from an investor.
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Feutune Light Acquisition Corp. priced its $85 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “FLFVU” Thursday, June 16, 2022.
The new SPAC’s search for a target business will likely span many industries and regions around the world but will place an emphasis on businesses with reasoned and strong management teams.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
On Friday afternoon, QuantumScape announced the departure of Chief Manufacturing Officer Celina Mikolajczak after a year in the job.
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Roth CH IV (NASDAQ:ROCG) announced in an 8-K filing this morning that it has signed a letter-of-intent (LOI) with a target company, but revealed no additional information about it.
The move is somewhat unusual in that Roth CH IV has plenty of time before its February 8, 2023 transaction deadline so it does not need to tease investors ahead of an extension.
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LightJump (NASDAQ:LJAQ) has entered into a definitive agreement to combine with science-based ingredients company Moolec Science at a proforma equity value of $504 million.
Warwickshire, United Kingdom-based Moolec develops animal proteins in plants using molecular farming, a scalable, affordable and sustainable technology that uses plants as small factories.
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Future Health (NASDAQ:FHLT) has entered into a definitive agreement to combine with medical technology company Excelera Health at an enterprise value of $459 million, or 1.3x its annualized Q1 2022 revenues.
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This week, we speak with Garrett Smallwood, CEO of Wag. Wag entered into an $350 million dollar combination agreement with CHW Acquisition Corporation (Nasdaq: CHWA) in February. It has created a marketplace for connecting pet owners to dog-walkers and other pet services near them that works like Uber, except for our furry friends.
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Virgin Group II (NYSE:VGII) announced that its shareholders have voted to approve its combination with sustainable home products-maker Grove in a special meeting held earlier today.
Today’s press release was short on details and did not disclose redemption numbers, but VGII traded below its trust value throughout its redemption deadline June 10, and closed today at $5.96.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.