Collective Growth Corp. (CGROU), announced the pricing of their $150 million SPAC IPO this evening and the units are expected to begin trading, tomorrow, Friday, May 1st, under the symbol NASDAQ: CGROU.
Collective Growth intends to focus on companies in the cannabinoid sector and will be led by Bruce Linton, as Chairman and CEO. Mr. Linton previously founded and served as Chairman and CEO of Canopy Growth (NYSE: CGC), a diversified cannabis, hemp and cannabis device company.
Total SPAC deal count for 2020 year-to-date is now 19 with $6.116 billion in gross proceeds raised. The offering is expected to close on Tuesday, May 5, 2020.
Cantor Fitzgerald & Co. acted as sole book-running manager for the offering. Graubard Miller and Ellenoff Grossman & Schole LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively. Marcum LLP acted as auditor.
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...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...
At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose...
Terms Tracker for the Week Ending April 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Passover and school spring break starts next week, which most likely means a slowdown in SPAC filing activity. Although Churchill IX is now rumored to...