News and Rumors
- PR: EV automaker VinFast (NASDAQ:VFS) has signed its first agreement to distribute its vehicles throughout Micronesia with Guam AutoSpot beginning in May 2024. VinFast combined with Black Spade in August 2023.
- PR: Electric motorcycle-maker LiveWire (NYSE:LVWR) has launched its S2 Mulholland model, which will retail for $15,999 and can accelerate to 60 mph in 3.3 seconds. LiveWire combined with AEA-Bridges Impact in September 2022.
- SpaceNews: Rocket Lab (NASDAQ:RKLB) successfully launched its final mission as a part of a contract with the US National Reconnaissance Office from its secondary launch pad in Virginia. The launch, which delivered a classified payload, came just over a week after the company launched a Japanese satellite from its New Zealand facility and was its fourth mission of the year overall. The company combined with Vector in August 2021.
- PR: Fellow space venture Intuitive Machines (NASDAQ:LUNR) reported that it entered March 1 with a cash balance of $54 million, the largest balance it has had to end a quarter since its founding, after a string of successes on NASA contracts including its IM-1 mission to land on the Moon. Much of this cash came from the exercise of warrants by an institutional investor and Intuitive Machines continues to have a contract backlog of about $268.6 million about a year after closing with Inflection Point.
- PR: Emissions reduction equipment maker Spectaire (NASDAQ:SPEC) closed a $2 million private placement, through which existing investor True Remainers purchased 1,538,461 shares and an equal amount of warrants with an exercise price of $1.30 per share. Spectaire combined with Perception Capital II.
Terms Tracker for the Week Ending April 26, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As expected, it was a quiet week on the new issuance front thanks to Passover and school spring break. Other than 8-ks and some amendments...
AI has quietly been creeping to the top of the buzziest sectors for SPAC deals, but it’s become host to an even larger arms race in the private funding market. Elon Musk is currently pushing a $6 billion capital raise for his OpenAI competitor xAI at a valuation of $18 billion, according to TechCrunch, while...
At the SPAC of Dawn After a tepid month for SPAC activity in April, prominent teams are already scheduling things to make for some fireworks in early May. AltC (NYSE:ALCC) has already been turning heads as being the rare SPAC to trade significantly above trust value before close, and it has now booked the completion...
At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...