Somebody brought out the gravy boat for this deal…
Collier Creek Holdings, the much anticipated Chinh Chu follow-up SPAC, added a little something extra to their deal (meal?) tonight and upsized by $50 million, bringing the total anticipated gross proceeds of their IPO to $400 million. The unit will begin trading tomorrow under the symbol CCH.U.
Collier Creek, which intends to focus on the consumer goods sector, is being led by the Co-Executive Chairmen team of Roger Deromedi and Jason Giordano, as well as Chinh Chu, as Vice-Chairman. As previously mentioned, this is Chinh Chu’s second SPAC, the first being the 2016 $600 million, CF Corp.
Congratulations to all.
Credit Suisse and BofA Merrill Lynch acted as lead managers on the deal.
At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...