Medicus Sciences Acquisition Corp. (NASDAQ:MSAC) filed an 8-K this morning disclosing that it has signed a non-binding letter of intent (LOI) for a potential business combination with medical technology company Anteris Technologies Ltd (“Anteris”), but did not provide any other details.
Australia-based Anteris is a structural heart company helping healthcare professionals to create life-changing outcomes for patients through its Better Science and Better Design technologies.
SPACs are not typically obligated to disclose discussions at this stage. However, in Anteris’ case, it was required to make a public announcement disclosing that it had been approached by the company due to applicable Australian securities laws.
This is not the same as a definitive agreement (DA) and Medicus Sciences will remain in our “searching” column until a DA is actually singed and announced. There is no guarantee that the parties will come to an agreement on a definitive merger and we have seen LOIs announced in the past only for the SPAC to sign a DA with a different target weeks later.
Medicus has a little over a year left to find a target with a deadline of February 18, 2023, giving it plenty of time to sign a DA.
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
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...