Ahead of Memorial Day Weekend….
The Memorial Day weekend slow down has already begun and tomorrow should extremely quiet, if not dead. However, a few items of note before everyone fires up the grill and starts working on their tans…
Proficient Alpha Acquisition Corp. (PAACU)
Proficient Alpha Acquisition Corp., which was originally supposed to price their IPO on Monday, May 20th, is now anticipated to price on Tuesday, May 28th, for trading on Wednesday, May 29th. There was a possibility this SPAC would try to price tonight, but given that there probably won’t be many people around tomorrow, next week is really the better option. The rumored reasons for the delay have varied between waiting on the SEC to waiting on wires for the at-risk capital, but regardless of the reason, next week feels more appropriate.
One Madison Corp. (OMAD)
On Tuesday, May 28th, we also have One Madison’s shareholder vote to complete their combination with Ranpak Corporation. OMAD recently arranged an additional $20 million PIPE and amended the Sponsor and Anchor Investor earn-out, which you can read about HERE. We’ll update once vote results are released.
Other than those two items, there’s nothing else “scheduled” for next week. However, whenever it’s quiet or you think it’s going to be quiet, that’s usually when we get some surprise SPAC IPO filings. My money is on at least one that gets filed tomorrow, but that’s an easy bet. The bankers just want to make sure everyone has something to read this weekend on the beach…
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...
At the SPAC of Dawn Ever since Digital World announced its combination with Trump Media (NASDAQ:DJT) back in October 2021, it was clear that SPACworld and the Trump show were set to be intertwined for quite some time. And, although not every headline has a bearing on the wider SPAC world, Trump Media’s post-close rise...
AltC (NYSE:ALCC) has reportedly been taking the pitch deck for its combination with nuclear fission firm Oklo on the road in recent weeks, which has generated the rare result of a SPAC trading significantly above its trust value still well before completing its deal. The SPAC has an estimated $10.59 per share in its trust...