Subscribe to SPAC Research for full access.
September 25, 2023
News From the Past Week

Deal News

  • Golden Star Acquisition Corporation (GODN) announced a deal to acquire Gamehaus Inc., a mobile game publishing company. The deal reflects an enterprise value of $500mm and is expected to close in Q4 2023 or early 2024.

  • Atlantic Coastal Acquisition Corp. II (ACAB) entered into a term sheet with Abpro Corporation, a biotechnology company. The transaction would reflect an equity value of $725mm and is expected to close in Q2 of 2024.

  • Social Leverage Acquisition Corp I (SLAC) and W3BCLOUD agreed to terminate their business combination agreement with no fees payable by either party.

Deal Closings & Approvals

  • Vahanna Tech Edge Acquisition I Corp. (formerly VHNA) closed its acquisition of RoadZen on Wednesday 9/20/2023. Redemption statistics were not provided. Ordinary shares and warrants are now trading on the NASDAQ as “RDZN” and “RDZNW.”

  • Digital Transformation Opportunities Corp. (formerly DTOC) closed its acquisition of American Oncology Network on Wednesday 9/20/2023 with less than 1% of public shares remaining. Ordinary shares and warrants are now trading on the NASDAQ as "AONC" and "AONCW.”

  • M3-Brigade Acquisition III Corp. (formerly MBSC) closed its acquisition of Greenfire Resources on Wednesday 9/20/2021. Redemption statistics were not provided. Ordinary shares are now trading on the NYSE as “GFR.”

  • Murphy Canyon Acquisition Corp. (formerly MURF) closed its acquisition of Conduit Pharmaceuticals on Friday 9/22/2023 with less than 1% of public shares remaining. Ordinary shares and warrants will trade on the NASDAQ as "CDT" and "CDTTW” beginning Monday 9/25/2023.
Other Deal News & Rumors

  • Radiology Business reported that an unnamed private equity firm has filed a lawsuit against QT Imaging in an attempt to force it to complete its merger with GigCapital5, Inc. (GIA).

  • Bloomberg reported that a unit of UpHealth Inc. filed for bankruptcy after a judge ruled it must pay transaction advisor Needham & Co. a $31mm fee in connection with its 2021 merger with GigCapital2, Inc. (formerly GIX).

  • Bloomberg reported that a lawsuit against Better Therapeutics ended with a default judgment for the shareholder leading the case against Mountain Crest Acquisition Corp. II (formerly MCAD).

  • Bloomberg reported that cybersecurity firm IronNet is looking at bankruptcy following its merger with LGL Systems Acquisition Corp. (formerly DFNS) and subsequent lawsuit.

IPOs
There were no SPAC IPOs last week.

New S-1's
Name Ticker Size ($mm) Underwriter Trust Funding Coverage
Global Lights GLAC 60 Chardan 100.5% W+R
Hainan Sirius HSAC 60 Ladenburg Thalman 101.0% W+R

Liquidations
Name Ticker Size ($mm) Announced Liq. Date Trust Per Share
26 Capital ADER 275 9/22/2023 9/25/2023 $10.95
LF Capital II LFAC 259 9/22/2023 10/4/2023 $10.87
Juniper II JUN 299 9/20/2023 10/10/2023 TBD

Registrations Withdrawn
There were no registrations withdrawn last week.

Charter Extensions

  • MCAA extended its charter through 3/9/2024 with a monthly $300,000 ($0.026 per share) sponsor contribution to trust. Approximately 50% of public shares remain representing $127mm in trust.
  • APCA extended its charter through 6/21/2024 with a monthly $200,000 ($0.018 per share) sponsor contribution to trust. Approximately 66% of public shares remain representing $123mm in trust.
  • NBST extended its charter through 3/25/2024 with a monthly $0.025 per share sponsor contribution to trust. Approximately 16% of public shares remain representing $21mm in trust.
  • CFFE extended its charter through 3/16/2024 with no sponsor contribution to trust. Approximately 3% of public shares remain representing $8mm in trust.
  • ACBA extended its charter through 4/8/2024 with a monthly $0.05 per share sponsor contribution to trust. Redemption statistics were not provided.
  • AMAO extended its charter through 10/31/2023 with no sponsor contribution to trust. Redemption statistics were not provided.

Upcoming Meetings and Deadlines

  • 9/25/2023 GFOR NKGen Biotech approval meeting (liquidation deadline 9/29/2023)
  • 9/25/2023 LOCC Charter extension meeting (liquidation deadline 9/27/2023)
  • 9/25/2023 HSPO Charter extension meeting (liquidation deadline 9/27/2023)
  • 9/25/2023 BYTS Liquidation deadline
  • 9/26/2023 BREZ Liquidation deadline
  • 9/26/2023 FZT Falcon's Beyond approval meeting (liquidation deadline 9/30/2023)
  • 9/27/2023 ANZU Envoy Medical approval meeting (liquidation deadline 9/30/2023)
  • 9/27/2023 BACA Charter extension meeting (liquidation deadline 9/30/2023)
  • 9/27/2023 JGGC GLAAM approval meeting
  • 9/28/2023 LATG Accelerated liquidation meeting
  • 9/28/2023 WTMA Charter extension meeting (liquidation deadline 9/30/2023)
  • 9/28/2023 ACAQ Next.e.GO approval meeting (merger outside date 9/30/2023)
  • 9/28/2023 MPRA Nuvini Group approval meeting
  • 9/28/2023 GIA Charter extension meeting (liquidation deadline 9/28/2023)
  • 9/28/2023 MOBV Srivaru approval meeting
  • 9/28/2023 HPLT Charter extension meeting (liquidation deadline 10/4//2023)
  • 9/29/2023 LCA Liquidation deadline
  • 9/29/2023 ANZU Charter extension meeting (liquidation deadline 9/30/2023)
  • 9/29/2023 BHAC Charter extension meeting (liquidation deadline 10/7/2023)
  • 9/29/2023 HCVI Charter extension meeting (liquidation deadline 10/1/2023)
Disclosures: Site administrators may maintain positions in various SPAC securities and may trade in or out of those securities at any time without notice. Information from spacresearch.com is provided for informational purposes only and should not be relied upon as the basis for any investment decision. Nothing on spacresearch.com is a recommendation or solicitation to buy or sell any investment.
Copyright © 2023 SPAC Research, All rights reserved. SPAC Research is the source of all data unless otherwise noted.

Did we miss something important? Please contact us.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.