Churchill VII (NYSE:CVII) has entered into a definitive agreement to combine with private equity firm CorpAcq at an enterprise value of $1.58 billion, or 10.3x its 2023E adjusted EBITDA.
Altrincham, UK-based CorpAcq is a long-term corporate acquirer with a portfolio of 41 enterprises primarily in the industrial sector.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Verde Clean Fuels (Nasdaq: VGAS), a company focused on becoming the leading supplier of gasoline and other fuels derived from renewable feedstocks or natural gas, today announced a Carbon Dioxide Management Agreement (CDMA) between Verde and Carbon TerraVault JV HoldCo, LLC (“CTV JV”), a carbon management partnership focused on carbon capture and sequestration development formed between Carbon TerraVault, a subsidiary of California Resources Corporation (“CRC”) (NYSE: CRC), and Brookfield Renewable (NYSE: BEP).
TLG Acquisition One Corp. (NYSE: TLGA) announced this morning that it has closed its combination with Electriq Power and the combined company’s shares and warrants will begin trading later today on the NYSE under the symbols “ELIQ” and “ELIQ.WS”,
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TradeUP (NASDAQ:UPTD) announced in an 8-K this morning that its shareholders approved its combination with Estrella Biopharma at a special meeting yesterday, July 31.
650,580 shares were redeemed in connection with the vote, leaving the SPAC with just 98,074 public shares remaining from its original IPO.
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Athena Consumer Acquisition Corp. (NYSE: ACAQ) announced this afternoon that it has postponed its completion vote for its business combination with EV-maker e.GO.
The special meeting, initially planned for August 14, is currently awaiting a new date to be determined.
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KeyArch (NASDAQ:KYCH) has entered into a definitive agreement to combine with charging network ZOOZ (TASE:ZOOZ) at a pro forma equity value of up to $100 million.
Lod, Israel-based ZOOZ has designed an EV-charging station that provides increased efficiency by harnessing kinetic energy while vehicles charge.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Israeli digital brokerage eToro has agreed to a $120 million secondary share sale, a source familiar with the matter told Reuters on Monday, more than a year after it scrapped its plans to go public through a merger with FinTech Acquisition Corp.
Alset Capital Acquisition Corp. (NASDAQ:ACAX) announced in an 8-K this morning that it has added a forward purchase agreement (FPA) to its combination with lifestyle company HWH International ahead of tomorrow’s completion vote.
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As previously reported, on May 3 and 4, Roth CH Acquisition V Co., (NASDAQ:ROCL), entered into non-redemption agreements with certain stockholders owning, in the aggregate, 2,000,000 shares of common stock, pursuant to which such stockholders agreed not to redeem or exercise any right to redeem such public shares in connection with the vote to extend the company’s completion deadline.
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Conyers Park III Acquisition Corp. (Nasdaq: CPAA) today announced that it will redeem all of its outstanding shares of Class A common stock, effective as of August 11.
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Compute Health (NYSE:CPUH) announced this afternoon that its shareholders approved its combination with weight-loss medtech firm Allurion at a special meeting held earlier today.
Approximately 99.8% of the votes cast on the business combination proposals by holders of Compute Health’s common stock, representing approximately 87.7% of the company’s outstanding common stock, voted to approve the deal, including approximately 58.2% of the outstanding shares of Class A common stock.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
BlueRiver (NYSE:BLUA) announced this afternoon that it has postponed its July 28 extension vote to 4 pm ET on August 2, marking the SPAC’s second postponement of the meeting.
As a result of the postponement, the SPAC will also extend the redemption deadline to July 31. Shareholders
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Genesis Unicorn (NASDAQ:GENQ) announced in an 8-K this morning that it has added a forward purchase agreement (FPA) to its combination with sustainable energy firm ESGL Holding.
Vellar Opportunities Fund has agreed to purchase up to 4,400,000 shares from third parties and brokers through the arrangement, which is to take the form of a OTC equity prepaid forward transaction.
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This week, we get an update from Brandon Mintz, CEO of Bitcoin Depot (Nasdaq: BTM), which recently closed its SPAC combination with GSR II Meteora Acquisition Corp. in June.
Brandon shares what advice he has for other companies considering a SPAC merger in the current market and discusses how Bitcoin Depot is hitting the ground running with its acquisition pipeline now that it has public capital at its disposal.
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Global System (NASDAQ:GSD) announced this morning that it has postponed its July 31 extension vote to 10 am ET August 7.
Shareholders at the meeting will vote on a proposal allowing it to extend its transaction deadline by one month up to six times, pushing it to February 9 at a maximum.
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Yotta Acquisition Corp. (NASDAQ:YOTA) announced this afternoon that NaturalShrimp (OTCQB:SHMP) has terminated its business combination with the SPAC.
On July 20, NaturalShrimp officially notified Yotta of its termination of the merger agreement.
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