Waverley Capital Acquisition Corp. 1 announced the pricing of its $200 million IPO and its shares are expected to begin trading on the NYSE under the symbol “WAVCU” Friday, August 20.
The new SPAC intends to focus its search on a category-defining disruptive media business that has long-term, sustainable competitive positioning, such as proprietary technology. Waverley Capital 1 is led by Chairman Edgar Bronfman Jr., CEO Daniel Leff, and CFO Alan Henricks.
Total SPAC deal count for 2021 year-to-date is now 413. This offering is expected to close on Tuesday, August 24.
Evercore ISI and Morgan Stanley served as the joint book-running managers on the offering. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as Issuer’s Counsel with Akin Gump Strauss Hauer & Feld LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
Mountain Crest V (NASDAQ:MCAG) broke a long dealmaking silence by SPACs this morning, albeit with a non-binding agreement to combine with Seoul-based diagnostic biotech firm CUBEBIO. The term sheet would give the company a $620 million pre-transaction equity value and help accelerate the rollout of CUBEBIO’s CEED-NOVUS cancer screening kit products. The company signed an...
Churchill Capital Corp IX (NASDAQ:CCIXU) announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CCIXU”, Thursday, May 2, 2024. The new SPAC will conduct a broad search and has not limited itself to any particular sector or focus, but it plans to...
At the SPAC of Dawn Layoffs in the tech sector ticked down in March to 7,322, making it the most merciful period of 2024 so far for tech workers after back-to-back months that saw nearly 35,000 let go in total, according to Layoffs.fyi. The dip could be an indication that the contraction in tech funding...
Cruise operator Viking Holdings (NYSE:VIK) put to sea with its traditional IPO yesterday and immediately showed that the public market winds could be favorable for more SPAC hospitality deals. Viking debuted near the top of its $21 to $25 range at $24, and immediately cruised up about +8.7% further to a day one close at...
As the month closes, the urgency among teams to get shareholder approval for more time to finalize business combinations continues to grow. The deadline for completing these combinations is increasingly extended as teams face rising timelines and gradually diminishing trust funds due to multiple extensions. Extension Votes April, much like the previous months, has seen...