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September 9, 2024
News From the Past Week

Deal News

  • Denali Capital Acquisition Corp. (DECA) announced a deal to acquire Semnur Pharmaceuticals, Inc., a wholly owned subsidiary of Scilex Holding Company (Nasdaq: SCLX), a 2022 deSPAC focused on acquiring, developing and commercializing non-opioid pain management products. The deal reflects an equity value of $2.5bn and is expected to close Q1 2025.

  • Keen Vision Acquisition Corporation (KVAC) announced a deal to acquire Medera, a clinical-stage biotechnology company. The deal reflects an enterprise value of $622.6mm and is expected to close in Q4 2024.

  • Compass Digital Acquisition Corp. (CDAQ) announced a deal to acquire EEW Renewables, a global developer in the renewable energy industry. The deal reflects an enterprise value of $386mm and is expected to close in Q1 2025.

  • Evergreen Corp (EVGR) announced a deal to acquire Forekast, a company specializing in augmented intelligence, offering AI-driven insights that enhance business operations, customer experiences, and workforce capabilities. The deal reflects an enterprise value of $105mm and is expected to close by the end of 2024.

  • APx Acquisition Corp. I (APXI) terminated its business combination with MultiplAI Health. APXI and OmnigenicsAI intend to complete their business combination without the acquisition of MultiplAI.

  • DT Cloud Acquisition Corporation (DYCQ) signed an LOI with Shanghai Maius Pharmaceutical Technology Co., a biopharmaceutical R&D company focusing on innovative formulations and targeted small-molecule chemical drugs. A definitive agreement is expected in Q4 2024.
IPOs
Name Ticker Raised ($mm) Sector Cash in Trust Coverage
Andretti II POLE 200 General 100.5% 1/2
Vine Hill Capital VCIC 200 Industrial 100.5% 1/2

New S-1's
None.

Liquidations
None.

Registrations Withdrawn
Name Ticker Size ($mm) Underwriter Trust Funding Coverage
Lianfeng Holding LFKG 70 * 100.0% 0

Charter Extensions

  • PPHP extended its charter through 8/16/2025 with a monthly $0.05 per share sponsor contribution to trust. Approximately 2% of public shares remain representing $1mm in trust.

Upcoming Meetings and Deadlines

  • 9/9/2024 IRAA Liquidation deadline
  • 9/10/2024 AVHI Vaso approval meeting
  • 9/10/2024 GATE Charter extension meeting (liquidation deadline 10/5/2024)
  • 9/12/2024 NOVV REAL Messenger approval meeting
  • 9/13/2024 FIAC DevvStream Holdings approval meeting
  • 9/14/2024 BNIX Liquidation deadline
  • 9/14/2024 PLMI Liquidation deadline
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