DFB Healthcare Acquisition Corp., which recently announced shareholders have approved their business combination with AdaptHealth Holdings, LLC (AHCO), filed additional documents via an 8-K this morning. DFB/AdapHealth did not indicate the redemption price per share, but they did disclose the total amount redeemed at their vote, which was $213.665 million. DFB Healthcare had approximately $256 million held in trust going into the vote, so that means roughly $42.3 million remained, or 16.5%. Post-combination close, DFB would have had north of 4 million SPAC shares in their float, so they easily met the Nasdaq listing standards.
December 2024 corporate actions continues the trend of SPAC teams seeking additional extensions beyond their third round, as they work to close their combinations with the remaining funds after redemptions. Despite this activity, both announcements and corporate actions associated with completion votes were notably few this month. Extension Votes In December, there were 26 scheduled...
At the SPAC of Dawn 2025 dawns with a reminder to SPAC teams that, as the Rolling Stones song goes, “You can’t always get what you want.” That was the message sent by Aimei Health I (NASDAQ:AFJK) shareholders as they rejected a proposal to reduce the SPAC’s monthly contribution to trust for the duration of...
An In-Depth Look at SPAC Activity Throughout the Full-Year of 2024 Below is a summary of the Full-Year 2024 SPAC market. If you’d like a pdf copy, you access the link HERE. SPACs have emerged from 2024 with a cautious optimism that feels both hard-earned and fragile. After weathering the turbulence of the past few...
The next quarter century is starting off with a set of de-SPAC shareholders newly able to realize better gains as their lock-ups expire in January than most months through 2024. Eight de-SPACs and six sponsors are to see their shares unlocked next month, and while none of these companies finished trading on December 30 in...
Maywood Acquisition Corp. (NASDAQ:MAYAU) filed to list a $75 million SPAC on the penultimate day of 2024 with a CEO making his second rodeo and a focus on serving the demand for listing opportunities and exits in Asia-Pacific. This new SPAC is not overfunding its trust and will have rights to a 1/5 share in...