April 3, 2023
New Feature: Custom News Feed
You can now customize your news feed to only show news related to individual SPAC portfolios.
- If you use SPAC Research with a corporate email address, we've created a portfolio of your existing clients from our database. We'll update it for you every day -- all you need to do is select that portfolio from the news feed.
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You can do the same thing from the calendar page to view upcoming events related to just your firm's clients.
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News From the Past Week
Deal News
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Aquaron Acquisition Corp. (AQU) announced a deal to acquire Bestpath, a hydrogen fuel cell powered vehicle company based in China. The deal reflects an enterprise value of $1.2bn and is expected to close later this year.
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Nova Vision Acquisition Corp (NOVV) announced a deal to acquire REAL Messenger, an app to connect and empower the real estate community through technology. The deal reflects an enterprise value of $150mm and is expected to close in Q3 2023.
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Alpine Acquisition Corporation (REVE) terminated its business combination agreement with Two Bit Circus and Atrium Hospitality and will liquidate instead.
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Deep Medicine Acquisition Corp. (DMAQ) announced a deal to acquire TruGolf, a golf simulator manufacturer and distributor. The deal reflects an enterprise value of $125mm and is expected to close in Q3 2023.
Closings & Approvals
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Maxpro Capital Acquisition Corp. (formerly JMAC) closed its acquisition of Apollomics on Thursday 3/30/2023 with less than 1% of public shares remaining. Ordinary shares and warrants are now trading on the NASDAQ as “APLM” and “APLMW.”
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DiamondHead Holdings Corp. (formerly DHHC) closed its acquisition of Great Southern Homes on Thursday 3/30/2023 with 13% of public shares remaining. Ordinary shares and warrants are now trading on the NASDAQ as “UHG” and “UHGWW.”
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IPOs
| Name |
Ticker |
Raised ($mm) |
Sector |
Cash in Trust |
Coverage |
| TMT Acq |
TMTC |
60 |
General |
102.0% |
2R |
| Trailblazer Merger I |
TBMC |
60 |
Technology |
102.0% |
R |
New S-1's
| Name |
Ticker |
Size ($mm) |
Underwriter |
Trust Funding |
Coverage |
| Ares II |
AACT |
400 |
Citi |
101.0% |
1/2 |
Liquidations
| Name |
Ticker |
Size ($mm) |
Announced |
Liq. Date |
Trust Per Share |
| Khosla Ventures III |
KVSC |
563 |
3/27/2023 |
4/7/2023 |
$10.12 |
| TCV Acq |
TCVA |
400 |
3/30/2023 |
4/13/2023 |
$10.24 |
| Alpine Acq |
REVE |
107 |
3/29/2023 |
TBD |
TBD |
Registrations Withdrawn
There were no registrations withdrawn this week.
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Charter Extensions
- NBST extended its charter through 9/25/2023 with a monthly $200,000 ($0.039 per share) sponsor contribution to trust and 40% of public shares remaining.
- WTMA extended its charter through 9/30/2023 with a monthly $125,000 ($0.034 per share) sponsor contribution to trust and 47% of public shares remaining.
- DSAQ extended its charter through 3/28/2024 with a monthly $160,000 ($0.029 per share) sponsor contribution to trust and 24% of public shares remaining.
- AOGO extended its charter through 12/29/2023 with a monthly $191,666 ($0.038 per share) sponsor contribution to trust and 51% of public shares remaining.
- GIA extended its charter through 9/28/2023 with a monthly $100,000 ($0.033 per share) sponsor contribution to trust and 13% of public shares remaining.
- BREZ extended its charter through 9/26/2023 with a monthly $0.035 per share sponsor contribution to trust and 10% of public shares remaining.
- GMFI extended its charter through 4/3/2024 with a monthly $150,000 ($0.05 per share) sponsor contribution to trust and 26% of public shares remaining.
- RFAC extended its charter through 9/28/2023 with a monthly $100,000 ($0.024 per share) sponsor contribution to trust and 36% of public shares remaining.
- BACA extended its charter through 9/30/2023 with no sponsor contribution to trust and 9% of public shares remaining.
- HPLT extended its charter through 10/4/2023 with no sponsor contribution to trust and 11% of public shares remaining.
Upcoming Meetings and Deadlines
- 4/3/2023 MBTC Charter extension meeting (liquidation deadline 4/5/2023)
- 4/4/2023 RWOD Liquidation deadline
- 4/4/2023 SAMA Charter extension meeting (liquidation deadline 4/13/2023)
- 4/5/2023 DMYS Liquidation deadline (pending optional $0.10 deposit extension)
- 4/6/2023 CXAC Charter extension meeting (liquidation deadline 4/11/2023)
- 4/6/2023 HWKZ Charter extension meeting (liquidation deadline 4/13/2023)
- 4/7/2023 ALTU Charter extension meeting (liquidation deadline 4/11/2023)
- 4/8/2023 EVOJ Liquidation deadline (pending optional extension)
- 4/8/2023 AVAC Liquidation deadline (pending optional $0.10 deposit extension)
- 4/9/2023 PANA Liquidation deadline
Links
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Reuters reported that law firm White & Case has settled its lawsuit with Colonnade Acquisition Corp. II (CLAA).
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Here's a piece from Harvard Law School discussing the Delaware Chancery Court's validation of SPAC charter amendments and share issuances.
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