Minority Equality Opportunities Acquisition Inc. (Nasdaq: MEOA) intends to dissolve and liquidate and will redeem all of the outstanding shares of Class A common stock at an estimated per-share redemption price of approximately $10.91.
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Kensington Capital Acquisition Corp. V (NYSE:KCGI) announced this afternoon that it has mutually terminated its business combination with EV-maker Arrival (NASDAQ:ARVL).
The SPAC’s combination with Arrival was 2023’s second repeat de-SPACing as it followed in the footsteps of Wejo (NASDAQ:WEJO), which also completed a 2021 SPAC deal and then announced a new one in January with TKB Critical Technologies 1 (NASDAQ:USCT).
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Phoenix Biotech (NASDAQ:PBAX) announced in an 8-K that it has postponed its extension vote from July 5 to 11 am ET July 7.
The SPAC’s existing transaction deadline falls on the following day, July 8, but its extension proposal would allow the Phoenix Biotech to extend this by one month up to six times for $0.03 per share contributions to its trust.
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East Resources (NASDAQ:ERES) announced this morning that it has completed its combination with financial services firm after receiving shareholder approval at a special meeting on June 29.
The parties have not yet released redemption figures, but the SPAC had a minimum cash condition of just $1 million to clear.
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Adit EdTech Acquisition Corp. (NYSE:ADEX) announced that it has adjourned today’s extension vote and will reconvene it at 9 am ET on July 11.
ADEX intends to use this additional time to seek additional proxies for two proposals: one to extend the time for the company to complete its initial business combination, and another to remove a prohibition on certain actions if the company’s net tangible assets fall below $5 million.
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HH&L (NYSE:HHLA) announced this afternoon that it has terminated its business combination with biotech firm DiaCarta.
On June 26, the SPAC sent a termination notice to DiaCarta due to breaches of representations and covenants by DiaCarta and fraudulent misrepresentation.
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Monterey Innovation (NASDAQ:MTRY) announced that it has adjourned today’s extension vote without conducting any business and will reconvene it at 11 am ET July 3.
The proposal on offer would allow Monterey’s relatively new management to extend the SPAC’s transaction deadline up to nine times by one month each up to April 5, 2024 by contributing $100,000 each month.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Quantum Fintech Acquisition Corp.
Sagaliam (NASDAQ:SAGA) announced this morning that it has amended a non-binding letter of intent (LOI) for the purchase of Biogenysis, Inc. and Virogentics Inc., operating subsidiaries of Enzolytics Inc. (Pink: ENZC).
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Priveterra (NASDAQ:PMGM) announced this morning what it has been cooking up through seven adjournments of its special meeting to complete its combination with AEON Biopharma – up to $105 million in new funding through a mix of facilities.
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Galata Acquisition Corp. (NASDAQ:GLTA) announced this morning that its special meeting, intended to approve its combination with Turkish mobility app Marti, will be adjourned due to a change in its proxy.
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GSR II Meteora (NASDAQ:GSRM) announced in an 8-K this morning that it secured shareholder approval for its combination with Bitcoin Depot at a special meeting June 28.
A further 3,686,863 shares were redeemed in connection with the vote, bringing GSR II’s final redemption rate to about 89% and leaving it with about $35 million in trust at close.
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GoGreen Investments (NYSE:GOGN) secured shareholder approval for its combination with battery metals producer Lifezone Metals at a special meeting yesterday June 29.
The SPAC has not yet released redemption figures in connection with the vote, but the transaction’s $50 million minimum cash condition was fully covered by a $70 million PIPE at $10 per share.
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On June 27, Stratim Cloud (NASDAQ:SCAQ) received a letter from Force purporting to terminate the Purchase Agreement and each of the transaction agreements entered into in connection with the Purchase Agreement.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Three investors in the special purpose acquisition company that has agreed to take Trump Media & Technology Group Corp.
Semper Paratus (NASDAQ:LGST) has entered into a definitive agreement to combine with Tevogen Bio at an enterprise value of $1.2 billion.
Warren, New Jersey-based Tevogen is developing a treatment to boost the immune systems of COVID patients undergoing cancer treatments or that have other comorbidities.
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Hawks Acquisition Corp. (NYSE: HWKZ) announced overnight that it will redeem all of its outstanding shares of Class A common stock other than shares of Class A Common Stock that have been converted from shares of Class B Common Stock.
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