Capstar Special Purpose Acquisition Corp. (CPSR.U), announced the pricing of their upsized $240 million SPAC IPO this evening and the units are expected to begin trading tomorrow, Thursday, July 2nd, under the symbol NYSE: CPSR.U
Capstar Special Purpose Acquisition Corp. intends to focus on companies in the consumer, healthcare and technology, media and telecommunications (“TMT”) industries with an aggregate enterprise value between $600 million to $1.5 billion. The Capstar team will be led by R. Steven Hicks, who founded Capstar Broadcasting Network, the nation’s largest radio station holding company in the late 1990’s, and Capstar Partners, a private investment firm focusing on small and middle-market buyouts. Capstar Partners is the sponsor of the SPAC, joined by PIMCO in the sponsor group.
Total SPAC deal count for 2020 year-to-date is now 38 with $12.149 billion in gross proceeds raised. The offering is anticipated to close on Tuesday, July 7, 2020.
Citigroup Global Markets Inc., UBS Securities LLC and BTIG, LLC are acting as joint book running managers. Greenberg Traurig, LLP, and Kirkland & Ellis LLP were issuer’s counsel and underwriter’s counsel, respectively. Marcum LLP acted as auditor.
Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...
In June 2025, the SPAC market was marked by a notable rise in meeting delays, with adjournments and postponements playing a central role in extension activity, as sponsors navigated a more cautious market environment. Still, several SPACs secured shareholder approvals, and seven business combinations were completed during the month. At the same time, IPO issuance...
An In-Depth Look at SPAC Activity Through the Second Quarter & First Half 2025 Below is a summary of the first half of 2025 SPAC market. If you’d like a pdf copy, you can access the link HERE. Q2 kicked off in chaos. President Trump’s shifting and often contradictory tariff announcements sent markets reeling, driving...
At the SPAC of Dawn The market is set to be showered with new SPACs today as three more SPACs priced their IPOs overnight, bringing 2025’s total to 66, already surpassing the full-year total of 2024. After hours, Ribbon (NASDAQ:RIBB) also added a new SPAC deal to June’s tally just under the wire, bringing the...
NMP Acquisition Corp. (NASDAQ:NMPAU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NMPAU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company that has a resilient business model with potential to scale up revenue. NMP’s management...