On Tuesday, June 16th, LF Capital Acquisition Corp. (LFAC), held their shareholder vote to extend the SPAC’s maturity date by three months from June 22nd to September 22nd, to give them more time to find a target and close a deal. LFAC released their extension vote results today, showing only 13.5% of shareholders (2,089,939 out of 15,525,000) opted to redeem, bringing the cash in trust value down to an estimated $141.7 million. A good result.
For the remaining 13,435,061 public shares, management is contributing $0.03 per share to the trust for each of the next three months.
Of the 21 SPAC’s that are still searching or announced and trying to close their combinations, and have held an extension vote, 51.9% of public shares have opted to redeem, on average.
Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...