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October 16, 2023
News From the Past Week

Deal News

  • Plutonian Acquisition Corp. (PLTN) announced a deal to acquire Big Tree Cloud, a Chinese personal care products company. The deal reflects an enterprise value of $500mm and is expected to close in 1H 2024.

  • Metal Sky Star Acquisition Corporation (MSSA) and Future Dao agreed to terminate their business combination agreement.

Deal Closings & Approvals

  • Bridgetown Holdings Limited (BTWN) closed its acquisition of MoneyHero Group on Thursday 10/12/2023 with 16% of public shares remaining. Ordinary shares and warrants are now trading on the NASDAQ as “MNY” and “MNYWW.”

  • Perception Capital Corp. II (PCCT) shareholders approved the company’s acquisition of Spectaire at a meeting Friday 10/13/2023 with less than 1% of public shares remaining. No closing timeline was given.

  • Twin Ridge Capital Acquisition Corp. (TRCA) shareholders approved the company’s acquisition of Carbon Revolution at a meeting Thursday 10/12/2023 with less than 1% of public shares remaining. No closing timeline was given.
Other Deal News & Rumors

  • The SEC settled fraud charges against Hyzon Motors for $25mm. Hyzon was acquired by Decarbonization Plus Acquisition Corporation (formerly DCRB) for $2.1bn in July 2021.

  • Fortune reported that Shift Technologies will file for bankruptcy and shut down, three years after being acquired by Insurance Acquisition Corp. (formerly INSU) for $423mm in October 2020.

  • Carscoops reported that Lordstown founder and ex-CEO Steve Burns has purchased the bankrupt firm’s remaining assets for $10mm. Lordstown was acquired by DiamondPeak Holdings Corp. (formerly DPHC) for $965mm in October 2020.
IPOs
There were no SPAC IPOs last week.

New S-1's
There were no new S-1's last week.

Liquidations
Name Ticker Size ($mm) Announced Liq. Date Trust Per Share
C5 Acq CXAC 288 10/10/2023 10/24/2023 $10.70

Registrations Withdrawn
There were no registrations withdrawn last week.

Charter Extensions

  • DECA extended its charter through 7/11/2024 with a monthly $50,000 ($0.011 per share) contribution to trust. Approximately 55% of public shares remain, representing $50mm in trust.
  • ASCA extended its charter through 4/17/2023 with a monthly $20,000 ($0.01 per share) sponsor contribution to trust. Approximately 28% of public shares remain, representing $21mm in trust.
  • LCW extended its charter through 10/13/2024 with a monthly $150,000 ($0.016 per share) sponsor contribution to trust. Approximately 40% of public shares remain, representing $99mm in trust.
  • VCXB extended its charter through 7/14/2024 with no sponsor contribution to trust. Approximately 7% of public shares remain, representing $22mm in trust.
  • LCW extended its charter through 10/13/2024 with a $150,000 monthly sponsor contribution to trust. Redemption statistics were not provided.

Upcoming Meetings and Deadlines

  • 10/16/2023 WWAC Charter extension meeting (liquidation deadline 10/22/2023)
  • 10/17/2023 ESAC Charter extension meeting (liquidation deadline 10/22/2023)
  • 10/17/2023 TRTL Charter extension meeting (liquidation deadline 10/22/2023)
  • 10/17/2023 DKDCA OneMedNet approval meeting
  • 10/17/2023 TLGY Charter extension meeting
  • 10/17/2023 CCV Liquidation at ~$10.40 per share
  • 10/18/2023 TENK Liquidation deadline (pending optional $0.10 deposit extension)
  • 10/18/2023 XFIN Charter extension meeting (liquidation deadline 10/25/2023)
  • 10/19/2023 CDAQ Charter extension meeting (liquidation deadline 10/19/2023)
  • 10/19/2023 HWEL Starton Therapeutics approval meeting
  • 10/19/2023 AIB Charter extension meeting (liquidation deadline 10/21/2023)
  • 10/20/2023 ACAQ Charter extension meeting (liquidation deadline 10/22/2023)
  • 10/20/2023 VSAC Charter extension meeting (liquidation deadline 11/3/2023)
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.
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