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The Latest SPAC News and Rumors: July 27, 2021


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Britain revises SPAC rules, Lucid Motors rises following merger, and Joby completes flight of more than 150 miles with electric vertical take-off air taxi


Britain Eases SPAC Rules As Global Watchdog Puts Sector on Watch

Britain has eased rules for SPACs to attract more listings to London, just as global regulators have put a watch on the blank-check companies.

...READ MORE

MCAP Acquisition Corporation (MACQ) to Combine with AdTheorent in $775M Deal

MCAP (NASDAQ:MACQ) has entered into a definitive agreement to combine with digital advertising firm AdTheorent at an enterprise value of $775 million, or 21.2x its 2022E EBITDA. New York-based AdTheorent provides a digital ad platform for online and smart TV ad space that uses machine-learning tools rather than cookies to target users. The combined company
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The Latest SPAC News and Rumors: July 26, 2021


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Canoo names former diplomat as its president, and Bloomberg Law reports law firms are cashing in on de-SPACs


Electric Car Startup Canoo Names Former Diplomat As President

Electric car startup Canoo Inc (NYSE:GOEV.O) 

...READ MORE
SPAC-Terms-Tracker

SPAC IPO Terms Tracker: More of the Same

Jul 25, 2021 INTEL by sam.beattie
Terms Tracker for the Week Ending July 23, 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 13 new S-1 registration statements, just four more than last week’s nine and only five IPOs, three less than last weeks
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Bridgetown 2 Holdings Limited (BTNB) to Combine with PropertyGuru in $1.35Bn Deal

Bridgetown 2 (NASDAQ:BTNB) has entered into a definitive agreement to combine with Asian proptech firm PropertyGuru at an enterprise value of $1.35 billion, or 17.8x its 2021E revenue. Kuala Lumpur-based PropertyGuru runs a series of rental and homebuying marketplaces throughout Southeast Asia, hosting more than 2.8 million real estate listings. The combined company is expected
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terminated

Jam City and DPCM Capital Terminate $1.2 Billion Deal

DPCM Capital  (NYSE:XPOA) announced in a press release and an 8-K filing today that it has terminated its business combination with leading mobile entertainment company, Jam City. The press release did not give a specific reason for the termination, but it is worth mentioning that DPCM had a $100 million PIPE at an effective price
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latest-news

The Latest SPAC News and Rumors: July 23, 2021


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: It’s a Summer of SPACs in Europe, Rascoff’s SPAC in talks to take Buyers Edge public, former CBS CEO launches SPAC, and Tom Barrack to appear in California court for bail hearing


Rascoff SPAC Said in Talks to Take Buyers Edge Platform Public

Software provider Buyers Edge Platform is in discussions to go public through a merger with Spencer Rascoff’s Supernova Partners Acquisition Co.

...READ MORE

Dragoneer Growth Opportunities Corp. II (DGNS) to Combine with Cvent in $5.3Bn Deal

Dragoneer II (NASDAQ:DGNS) has entered into a definitive agreement to combine with event technology provider Cvent at an enterprise value of $5.3 billion, or 10.4x its 2021E revenue. Tysons, Virginia-based Cvent provides a subscription-based event-booking platform for corporate clients, providing a range of services for in-person, virtual or hybrid summits. The combined company is expected
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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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Clover Health (CLOV) Calls for Redemption of Warrants

Clover Health (NASDAQ:CLOV) announced that it will redeem all outstanding warrants at a price of $0.10 per Warrant at 5 pm EST, August 23, and the Warrants may be exercised by the holders until 5:00 p.m. New York City time on the Redemption Date to purchase the Common Stock underlying the Warrants on a cash
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Churchill Capital Corp. IV (CCIV) Adjourns Shareholder Vote

Churchill Capital Corp. IV  (NYSE:CCIV) announced in a press release this morning that it adjourned its meeting regarding its combination with luxury electric vehicle company Lucid Motors. Shareholders approved all of the proposals except #2, which requires a higher threshold of 65% in order to pass. The new meeting will be tomorrow, July 23 at
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Gores Holdings VI (GHVI) Completes Matterport Deal

Gores Holdings VI  (NASDAQ:GHVI) announced this morning that it has completed its combination with proptech firm Matterport following at a special meeting of shareholders on July 20.

The combined company will commence trading on Nasdaq under the new ticker symbol “MTTR” on July 23, 2021

The release did not include exact redemption figures, but noted that the deal’s final proceeds included about $310 million from Gores VI’s trust. ...READ MORE

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CM Life Sciences, Inc. (CMLF) Completes Sema4 Deal

CM Life Sciences, Inc.  (NASDAQ:CMLF) announced this morning that its shareholders approved its combination with genomic and clinical data intelligence company Sema4 and the transaction has now been completed.

The release and an earlier 8-K filing did not disclose redemption figures, but CM Life Sciences traded above $11 through the day of its July 19 redemption deadline and so it is unlikely shareholders redeemed in large numbers, if any. ...READ MORE

MDH Acquisition Corp. (MDH) to Combine with Olive.com in $959M Deal

MDH (NYSE:MDH) has entered into a definitive agreement to combine with digital auto insurers PayLink Direct and Olive.com at an enterprise value of $959 million, or 2.3x its 2023E revenue. Chicago-based Olive.com is the leader in payment services and online vehicle protection plans which allows customers to buy directly on their own terms and in
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10X Capital Venture Acquisition Corp. (VCVC) Shareholders Approve REE Automotive Deal

10X Capital Venture Acquisition Corp.  (NASDAQ:VCVC) announced in an 8-K filing that its shareholders approved its combination with electric vehicle-maker (EV) REE Automotive in a meeting held earlier this morning. The 8-K filing made no mention of redemptions, but VCVC traded just below $10 throughout its redemption deadline July 19.  It opened this morning at
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