Author: Kristi Marvin

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QuantumScape (QS) Announces Redemption of Public Warrants

Jul 23, 2021 INTEL by Kristi Marvin
QuantumScape (NYSE:QS) announced this morning that it will be calling all of its outstanding public warrants for cash exercise with a deadline of 5:00 p.m. Eastern Daylight Time, August 24. The private placement warrants that were purchased by the sponsor at Kensington Capital’s IPO will not be subject to redemption at this time, however, QS
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Argus Capital Corp. Opts For a More Stringent Lock-up

Jul 22, 2021 INTEL by Kristi Marvin
Another twist on the promote… Despite the slowdown in SPAC IPOs, we’re still seeing new SPACs file registration statements hoping to price.  However, in order to make deals more attractive to investors, we’re also starting to see teams amend some of the terms.  As such, today Argus Capital Corp. (Nasdaq:ARGUU) debuted a two year lock-up
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Stable Road Acquisition Corp. (SRAC) Re-Strikes PIPE

Jul 16, 2021 INTEL by Kristi Marvin
Stable Road Acquisition Corp. (NASDAQ:SRAC), on the heels of a both a re-struck deal and a fine by the SEC, filed an 8-K this afternoon announcing it had also re-struck it’s PIPE with PIPE investors. The headline is that the previous PIPE amount of $175 million has been reduced to $110 million, but there are
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ACE Convergence (ACEV) and Achronix Announce Termination of Agreement

Jul 12, 2021 INTEL by Kristi Marvin
ACE Convergence Acquisition Corp. (Nasdaq: ACEV), announced this morning that they have mutually terminated their merger agreement with Achronix Semiconductor Corporation, but will continue to seek an alternative business combination. The reason given was that, “The parties believe that they will not be able to complete the transaction by the July 15, 2021 deadline or some
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SPAC IPO Terms Tracker: A Rush of IPOs Ahead of the Holiday

Terms Tracker for the Week Ending July 2, 2021 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This week there were 10 new S-1 registration statements which is synonymous with last week’s 10. However, there were a large amount of SPAC IPOs
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Stable Road Acquisition Corp. (SRAC) Re-Strikes Deal with Momentus

Jun 29, 2021 INTEL by Kristi Marvin
Stable Road Acquisition Corp. (NASDAQ:SRAC) filed an 8-K this afternoon announcing that it had amended its merger agreement with commercial space company Momentus, including a very big cut to valuation. The amendment included a revision to their Outside Date, moving it from June 7, 2021 to August 13, 2021, but the real headline grabber is
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Spinning Eagle Wants to “Spin” a Couple of Eaglets

Jun 24, 2021 INTEL by Kristi Marvin
Spinning Eagle, which is technically the originator of the Remainco, having filed their “spin” on the traditional SPAC structure back around Christmas time, put a fresh coat of paint on their newly filed pending IPO this afternoon and incorporated some of Ackman’s deal in the process. It appears both teams have borrowed from each other,
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Thimble Point Acquisition Corp. (THMA) to Combine with Pear Therapeutics in $1.2Bn Deal

Jun 22, 2021 INTEL by Kristi Marvin
Thimble Point (NASDAQ:THMA) has entered into a definitive agreement to combine with digital treatment provider Pear Therapeutics at an enterprise value of $1.19 billion, or 9.58x its 2023E revenue. Pear provides three FDA-approved digital health apps helping patients recover from addiction, insomnia and other anxiety-related issues. The combined company is expected to trade on the
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SPAC IPO Terms Tracker: Early June

Terms Tracker for the Week Ending June 4, 2021 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Post Memorial Day holiday, there were zero IPOs this past week but ten new s-1 registration statements were filed.  In total, SPACs now have 293
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