TPG Pace Energy Holdings announced yesterday they had commenced a $400 million senior unsecured note offering (due 2026). This a 33% increase from the originally announced $300 million note offering. TPGE’s proposed deal with EnerVest to form Magnolia Oil & Gas Corporation, has been extremely well received and this size increase is further evidence of that.
If you look at TPGE’s share (and warrant) prices, they’ve been on a tear since deal announcement and if you bought the unit in the IPO (and hung on to both the share and the warrant), you’re looking at a roughly 40% return right now. Plus, the private placement investors are probably pleased as well. If you remember, prior to deal announcement TPGE did a $355 million PIPE that was priced at $10.00/share.
Great story, great SPAC and it’s been a fun one to watch.
As a reminder, TPGE has their shareholder vote next Tuesday – July 17th.
ProCap Acquisition Corp. (NASDAQ:PCAPU) has filed for a $200 million SPAC to hunt for a fintech or financial services target. The new S-1 filing was BTIG’s second of the week after a two-month break, bringing its 2025 new SPAC filings to five and the bank has so far managed to IPO five SPACs as well....
MSM Frontier Capital Acquisition Corp. (NASDAQ:MSMUU) has filed for a $225 million SPAC to search for a infrastructure target in Africa. The new SPAC will head out on this expedition with a trust that is not overfunded and units that each contain one right to a 1/8 share. It will also have 24 months to...
At the SPAC of Dawn This action-packed week in SPACs comes to an end with three more SPACs launching their IPOs, bringing it to nine on the week. And, the crypto strategy that SPACInsider noticed becoming increasingly popular among de-SPACs earlier this year has continued to gain steam. This week, edtech firm Classover (NASDAQ:KIDZ), fresh...
Cartesian Growth Corporation III (NASDAQ:CGCT) announced the pricing of its upsized $240 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CGCT”, Friday, May 2, 2025. The new SPAC intends to combine with a closely held private company ready to make the jump to being a market-leading transnational...
Cantor Equity Partners II, Inc. (NASDAQ:CEPT) announced the pricing of its upsized $240 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CEPT”, Friday, May 2, 2025. The new SPAC intends to combine with a target in the financial services, healthcare, real estate services, technology, or software industries....