ROC Energy Acquisition Corp. (NASDAQ:ROC) announced this afternoon that it has completed its business combination with oilfield services company Drilling Tools International (“DTI”).
The transaction generated $25.9 million of cash from a common stock PIPE and $1.7 million of cash from ROC’s trust account, considering redemptions.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Fifth Wall Acquisition Corp. III (NASDAQ:FWAC) announced this afternoon that it has amended its sponsor agreement and subscription agreement in connection to its proposed merger with parking asset owner Mobile Infrastructure.
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Corner Growth Acquisition Corp. (NASDAQ: COOL) announced this afternoon that it convened and then determined to adjourn its special meeting until June 20.
At the meeting, a sufficient number of COOL’s ordinary shares were present to constitute a quorum.
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On June 16, 2023, 7GC & Co. Holdings Inc. (NASDAQ:VII) and the Company’s sponsor entered into a non-redemption agreement with an unaffiliated third party in exchange for the holder agreeing either not to request redemption, or to reverse any previously submitted redemption demand with respect to an aggregate of 247,000 shares of Class A common stock.
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Cartica Acquisition Corp. (NASDAQ: CITE) announced this afternoon that it is rescheduling its special meeting from 1:00 p.m. on June 23, to the same time on June 30.
Shareholders will be voting on a proposal to extend the SPAC’s completion deadline from July 7, 2023 to April 7, 2024.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Vietnamese electric vehicle (EV) maker VinFast has reported a drop in first-quarter revenue by 49%, with a net loss deepening to $598 million in the first full reporting period since it started exporting to the United States.
Plum I (NASDAQ:PLMI) announced in an 8-K this morning that it was reversing its decision to liquidate on June 18, and will instead hunt for a target for at least one more month, extending its deadline to July 18.
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Global Star (NASDAQ:GLST) has entered into a definitive agreement to combine with entertainment firm K Enter, which is to merge with seven South Korean businesses for a total valuation of $610 million, or about 3.9x their 2022 revenue.
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Welsbach Technology Metals Acquisition Corp. (NASDAQ:WTMA) announced this morning that it has jointly terminated its combination with battery-maker WaveTech, citing market conditions.
The short press release gave few further details, but the parties were past the merger’s outside date since March 31.
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Metals Acquisition Corp. (NYSE:MTAL) announced this morning that it has completed its acquisition of the parent company for Glencore’s (LON:GLEN) CSA Copper Mine in Australia.
The combined company’s shares and warrants will begin trading today on the NYSE under the continued ticker symbols “MTAL” and “MTAL.W”,
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On June 14, Plum (NASDAQ:PLMI) received a termination notice from its target Sakuu. In light of the termination of the Business Combination Agreement, Plum’s Board of Directors determined that it will not extend the deadline for Plum to consummate a business combination beyond June 18.
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Priveterra Acquisition Corp. (NASDAQ:PMGM) announced in an 8-K this afternoon that it will adjourn its special meeting to approve its combination with AEON Biopharma from noon today to the same time on June 21, marking the fourth adjournment for the meeting.
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7GC & Co. Holdings Inc. (NASDAQ: VII) announced this afternoon that its special meeting, which was originally scheduled for June 20, will be postponed to 12:00 p.m. ET on June 26.
The company is currently facing a completion deadline of June 28 as it works to close a deal, but intends to extend this until December 28, or such earlier date as determined by the board of directors.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Freedom I (NYSE:FACT) announced this morning that it has lowered the pre-money equity valuation by half for its target Complete Solaria while bringing in $10 million more in commitments to its bridge financing.
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Tristar Acquisition I Corp. (NYSE:TRIS) announced in an 8-K this afternoon that it has terminated its non-binding letter of intent (LOI) with its unnamed target.
The LOI was announced just a few months ago in March, but by having this signed agreement in hand, it allowed the SPAC to automatically extend its transaction deadline by three months from April 18 to July 18.
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