Author: SPACInsider


Spartan Energy Makes it Official: To Combine with Fisker

Jul 13, 2020 INTEL by SPACInsider
Spartan Energy floors it and gives Tesla something new to worry about. Spartan Energy Acquisition Corp (SPAQ)., the $552 million Apollo-backed SPAC, confirmed the rumors this morning that it would combine with Fisker Inc., the automaker dedicated to developing, “the most emotionally desirable and eco-friendly electric vehicles on Earth.” This transaction will provide more than
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Haymaker Acquisition Corp. II Drops a Teaser

Jul 13, 2020 INTEL by SPACInsider
Signs non-binding LOI with ARKO Holdings Ltd. and GPM Investments, LLC. Early this morning, Haymaker Acquisition Corp. II (HYAC), announced they have signed a non-binding LOI with ARKO Holdings Ltd. (“Arko”), an Israeli public holding company (TASE: ARKO) and GPM Investments, LLC, to become a Nasdaq-listed, pure-play operator of convenience stores. which is the 7th
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Churchill III (CCXX) Announces Combination with Multiplan

Jul 12, 2020 INTEL by SPACInsider
In keeping with the unusual activity of the past two months, Churchill Capital Corp. III (CCXX), announced they have signed a definitive merger agreement with Multiplan, Inc., tonight, on a Sunday evening ahead of what is anticipated to be a very busy week. At $11.0 billion in enterprise value, this is the largest SPAC transaction
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Big Rock Partners (BRPA) Adds a Twist to its Extension Vote

Jul 10, 2020 INTEL by SPACInsider
Big Rock Partners Acquisition Corp. (BRPA), filed a definitive proxy statement this morning ahead of its July 23rd extension vote, and in addition to filling in some previously blank information, they added an innovative little twist on its monthly contribution to extend.  But first, the initial details for this vote are that BRPA will be
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spac ipos

TXAC’s IPO Confirms the New Terms Standard of Zero Warrants

Jul 8, 2020 INTEL by SPACInsider
At least for small, tightly focused SPACs. Similar to Panacea Acquisition Corp.’s IPO last Wednesday (PANA.U), Therapeutics Acquisition Corp. (TXAC), came roaring right out of the gate to open at $11.25.  However, it’s currently trading in the $12.00 range after going as high as $13.50.  And Therapeutics does not have any warrants included as part
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Pure Acquisition Corp. Further Revises HighPeak Energy Deal

Jul 7, 2020 INTEL by SPACInsider
Pure Acquisition Corp. (PACQ), filed an 8-K this morning summarizing the changes it has made to it’s business combination agreement with HighPeak Energy, Inc. These changes were made to, “enhance the return for those Pure stockholders who participate in the business combination.”  However, since there have been so many changes, let’s review to better understand what’s
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This is Spartan

Spartan Energy Files a For an Extension

Jul 6, 2020 INTEL by SPACInsider
And has a “Non-binding LOI” Spartan Energy Acquisition Corp (SPAQ)., filed a preliminary extension proxy this afternoon to extend from August 14, 2020 to February 14, 20201, a full six month extension.  However, Spartan will not be contributing any additional funds to trust for extending six months, and this is without a teaser combination press
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Orisun Aquisition Corp. to Combine with Ucommune

Jul 6, 2020 INTEL by SPACInsider
Orisun Acquisition Corp. (ORSN) announced this morning that it has signed a definitive merger agreement with Ucommune Group Holdings (“Ucommune”), an agile office space manager and co-working community operator in China.  Upon consummation of the transaction, Ucommune is expected to re-domicile to the Cayman Islands and remain listed on the Nasdaq under a forthcoming new
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Therapeutics Acquisition Corp. Re-files WITHOUT Warrants

Jul 6, 2020 INTEL by SPACInsider
Is a SPAC still a SPAC without warrants? This morning, Therapeutics Acquisition Corp. (TXAC), filed an amended S-1 revealing that this SPAC will no longer be a unit deal.  Instead, Therapeutics has removed the original 1/3 warrant and will IPO with just shares. It’s certainly a cleaner structure – zero warrant overhang and none of
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Q2 & First Half 2020 SPAC IPO Auditor League Tables

Q2 & First Half 2020 SPAC IPO Auditor League Tables

Below are the newly released SPAC Auditor League Tables for the second quarter of 2020 and the first half of the year. As you can see below, the Auditor League is dominated by just two auditing firms -  Marcum LLP and WithumSmith+Brown ("Withum"). So each quarter is generally just a look into how close these two competitors come to edging each other out.
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Q2 & First Half 2020 SPAC IPO Legal League Tables

Below are the recently released Q2 & First Half 2020 SPAC IPO Legal League Tables

Methodology: Each law firm is given full credit for the IPO size to calculate Deal Volume. Additionally, Deal Count is further broken out into Issuer's Counsel and Underwriter's Counsel to give greater visibility into into legal assignments. All data is initially sorted and ranked by Deal Volume, but each column is further sort-able by clicking on the arrow keys in the header cell of each column.
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HL Acquisitions Corp. Releases Extension Vote Results

Jul 2, 2020 INTEL by SPACInsider

HL Acquisitions Corp. (HCCH), which previously announced their intended combination with Fusion Welcome-Fuel, held their shareholder vote today to extend their completion deadline three months to October 2, 2020.  The extension was approved, but more importantly, HCCH had a very light number of shareholders redeem, thanks to a share price trading around $12.22, which is well above the estimated cash in trust value of $10.56. ...READ MORE