Magnum Opus (NYSE:OPA) announced this morning that financial media outlet Forbes has terminated the pair’s business combination after reaching the deal’s May 31 outside date.
The parties’ filing and press release did not give a cause for the decision, but the deal had been pending for more than nine months since its announcement on August 26.
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North Atlantic Acquisition Corp. (NASDAQ:NAAC) announced this morning that it has once again postponed its vote to complete its combination with fraud-protection software firm Telesign.
The SPAC’s brief press release did not lay out a new date for a renewed attempt, but noted that one will be announced “in due course.”
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Group Nine Acquisition Corp. (NASDAQ:GNAC) announced this afternoon that it has entered into a Membership Interest Purchase Agreement with 890 5th Avenue Partners, LLC to sell certain Class A interests of the sponsor, Group Nine SPAC, LLC, which economically corresponds to 4,025,000 shares of Class B common stock, or Founder Shares.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Democratic U.S.
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Biotech Acquisition Cormpany (NASDAQ:BIOT) has postponed its special meeting to complete its combination with pharmaceutical firm Blade Therapeutics from June 1 to 10 am ET, June 3.
The SPAC has obtained sufficient votes to approve the transaction but needs additional time to satisfy all closing conditions, according to Biotech’s press release.
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Digital World’s (NASDAQ:DWAC) filed a new S-1 today, providing highly anticipated information into the investors of its $1 billion PIPE.
A total of 48 investors have subscribed to this PIPE, with ownership post-conversion of the Preferred Stock between 11,350,000 shares and 50,000 shares.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Blank-check companies settled on deals to buy a members-only startup airline, a startup augmented reality firm and a company called Two Bit Circus this month as SPACs face pressing deadlines to strike deals or close shop.
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Trepont Acquisition Corp I (NYSE:TACA) announced that it will not complete a business combination before its transaction deadline of June 4 and will therefore liquidate its trust effective June 10.
The SPAC had originally planned to hold a vote to extend its transaction deadline today, but opted to liquidate instead.
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SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among revenue-generating fintech companies that are nearing profitability. 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.
A consortium, including LanzaTech and Danone, led to the discovery of a new route to monoethylene glycol, (MEG), which is a key building block for polyethylene terephthalate, (PET), resin, fibers and bottles.
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We don’t typically post Op Eds, but a buy-side individual who has been investing in SPACs since 2003 approached us wanting to offer their own perspective on the current SEC proposal.
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