Papaya Growth Opportunity Corp. I announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “PPYAU” Friday, January 14.
The new SPAC intends to search for a target business operating in the software, internet, media, fintech, healthcare IT, or consumer industry sectors and to focus on vertical solutions driven by AI, marketplaces, platforms and networks. Papaya Growth Opportunity Corp. I is led by CEO Clay Whitehead, CFO and Secretary Daniel Rogers, President Alexander Spiro and Chairperson Patrick Pohlen.
Total SPAC deal count for 2022 year-to-date is now 13. This offering is expected to close on Tuesday, January 18.
Cantor is acting as the sole book-running manager for the offering. McDermott Will & Emery LLP is serving as Issuer’s Counsel with Elenoff Grossman & Schole LLP serving as Underwriter’s Counsel. Citrin Cooperman & Company, LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
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...
At the SPAC of Dawn Of the days with potential to shake up the market with news this week, today is the big one. Markets are currently anticipating a “near-zero” chance of any changes in the Fed’s rate-cut schedule coming out of today’s meeting. But, other news could come in a change in policy on...
The pace of de-SPACs making it to their lock-up expirations is set to roughly remain level with last month as May’s batch includes five companies and six sponsors set to be released. This group features a high number of Asia-based deals including its headline performer, SunCar Technology (NASDAQ:SDA), which last closed at $7.91. Earlier this...
DT Cloud Star (NASDAQ:DTSQU) filed an S-1 to raise $60 million as the second SPAC by its sponsor team, but this venture would be the 13th foray by underwriter Alliance Global Partners and the first under its new branding as AGP. However, three of those initial filings have subsequently been withdrawn. Nonetheless, AGP is offering...
At the SPAC of Dawn Tuesday brings another packed day in a packed week of potentially market-moving events and individual SPAC actions. The market today will take in the update on US consumer confidence readings as well as the employment cost index and Treasury’s decision on its quarterly refunding plans. An unusually large portion of...