Author: Kristi Marvin

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Deal Terms: More Downsizes as IPOs Get Ready to Price

Nov 16, 2020 INTEL by Kristi Marvin
As further evidence that the SPAC market is still suffering from banker cold sweats and IPO indigestion, the wave of downsizes continued this morning with three more SPACs amending their S-1s.  A summary of changes has been provided below, but the most notable change was in 10X Capital Venture Acquisition Corp. (VCVCU), which swapped out
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UPDATED: Healthcare Merger Corp. (TLMD) Reveals $187M in Redemptions

Healthcare Merger Corp. (NASDAQ:TLMD) showed in an 8-K filing today that shareholders redeemed about $187.2 million-worth of its shares prior or in connection with its shareholder vote to approve its combination with SOC Telemed (TLMD), held on October 30. A total of 18,606,033 shares were redeemed for cash at a price of $10.06, leaving $64.3
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Shift (SFT) Announces Warrant Exchange Offer

Warrant Exchange Offer Earlier this morning, Shift Technologies (SFT), which recently combined with Insurance Acquisition Corp., announced its intention to offer Shift’s outstanding public-warrant holders an exchange for shares of Shift common stock and cash for each warrant tendered. The details are that for each warrant, a holder will receive 0.25 of Shift common stock
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Churchill Capital V (CCV.U) Upsizes & Removes New Term

Oct 22, 2020 INTEL by Kristi Marvin
The Churchill Capital Corp. team, which filed for their fifth SPAC earlier this month (CCV.U), filed an amendment tonight with some big changes.  The original term that had Churchill V placing only 90% of funds in trust, with the other 10% held in escrow and not to be contributed to trust unless at least 85%
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