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The Latest SPAC News and Rumors: October 13, 2021


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

Latest SPAC News: SEC leans on SPACs for detailed disclosures, Lordstown Motors appoints new CFO, and CompoSecure announces cryptocurrency product Arculus Key Card


SEC Leans on SPACs for Detailed Disclosures of Risk, Controls

Wall Street’s top regulator promises to issue new, tougher rules for SPACs, but the agency already has ramped up its scrutiny of the blank-check companies that became market sensations in 2020. ...READ MORE

RedBall Acquisition Crop. (RBAC) to Combine with SeatGeek in $1.35Bn Deal

RedBall (NYSE:RBAC) has entered into a definite agreement to combine with ticket marketplace SeatGeek at an enterprise value of $1.35 billion, or 3.9x its 2022E revenue. New York City-based SeatGeek provides an event ticket marketplace to enterprise clients, individual sellers and consumers that includes in-stadium purchase options and integrations with ride-hailing services. The deal is
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VPC Impact (VIH) Pre-Announces Redemptions With Bakkt

VPC Impact Acquisition Holdings (NASDAQ:VIH) pre-announced its redemption amounts this morning in a press release ahead of its shareholder meeting tomorrow to vote on its combination with digital asset marketplace Bakkt Holdings. The press release reported that the deal is expected to generate more than $447 million of gross proceeds.  This includes an expected $325
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Live Oak II (LOKB) Shareholders Approve Navitas Semiconductor Deal

Live Oak Acquisition Corp. II (NYSE:LOKB) secured shareholder approval of its combination with advanced charging electronics-maker Navitas in a meeting held yesterday. The press release and 8-K filing did not disclose redemption numbers, but LOKB traded above $10 throughout its redemption deadline October 8, and is currently up 9.61% at $11.03. Live Oak II secured
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The Latest SPAC News and Rumors: October 12, 2021


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

Latest SPAC News: Hyphen in talks to merge with Provident Acquisition Corp., SPAC promoters shun Chinese deals amid regulatory chill, and Rocket Lab acquires Advanced Solutions


Li-Backed Hyphen Said in Talks on $1 Billion Provident SPAC Deal

Hyphen Group, a financial technology firm backed by Hong Kong billionaire Richard Li, is in advanced talks to go public through a merger with blank-check company Provident Acquisition Corp. ...READ MORE

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Seaport Global Acquisition Corp (SGAM) Secures Backstop Financing

Oct 12, 2021 INTEL by Kristi Marvin
Seaport Global (NASDAQ:SGAM) announced this morning that it has added a $36 million backstop to its business combination with Redbox. The SPAC noted that the agreements will ensure that “the cash proceeds available to SGAC as of closing equal or exceed the minimum cash condition under the Business Combination Agreement“. The SPAC has about $145.2
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Big Cypress (BCYP) Arranges Forward Purchase/Backstop Agreement

Oct 12, 2021 INTEL by Kristi Marvin
Big Cypress Acquisition Corp (Nasdaq: BCYP) announced this morning that they have entered into a Forward Purchase Agreement (“FPA”) with Radcliffe SPAC Master Fund, L.P. (“Radcliffe”),  in an effort to secure their completion shareholder vote.  Big Cypress is scheduled to hold their combination vote with SAB Biotherapeutics on October 20th. As part of the FPA,
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Dune Acquisition Corporation (DUNE) to Combine with TradeZero in $556M Deal

Dune (NASDAQ:DUNE) has entered into a definitive agreement to combine with equities trading platform TradeZero at an enterprise value of $556 million, or 4.9x its 2022E revenue. New York City-based TradeZero provides a digital equity trading and investment platform targeted at professional day traders. The combined company is expected to trade on the Nasdaq under
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The Latest SPAC News and Rumors: October 11, 2021


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

Latest SPAC News: Former climate change secretary Amber Rudd joins Energy1, BowX announces listing transfer to NYSE, and Gogoro launches battery swapping in China


Former Climate Change Secretary Rudd to Join London-listed SPAC

Sky News reported that Amber Rudd, who served as secretary of state for energy and climate change between May 2015 and July 2016, is to become an adviser to Energy1, one of a hotly anticipated wave of new UK SPACs. ...READ MORE

SPAC-Terms-Tracker

SPAC IPO Terms Tracker: A Slightly Busier Start to the Quarter

Oct 10, 2021 INTEL by sam.beattie
Terms Tracker for the Week Ending Oct. 8, 2021 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. For the first week of October, we saw 12 new S-1 registration statements and 11 IPOs, both being two more than what we saw last
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RedBall Acquisition Corp. (RBAC) Confirms SeatGeek Deal Talks

RedBall Acquisition Corp. (NYSE:RBAC) confirmed in a statement this afternoon that it is in “exclusive discussions” with ticket marketplace SeatGeek “in connection with a possible business combination” following a Bloomberg report claiming a deal is near. The SPAC pumped the breaks on that slightly, noting that there is “no assurance that a definitive agreement will
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The Latest SPAC News and Rumors: October 7, 2021


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

Latest SPAC News: Betsy Cohen predicts about 30% of SPACs will bust, Ginkgo caught in short-seller selloff, and Sonder expands into France


Betsy Cohen Predicts About a Third of SPACs Will Bust

Blank-check sponsor Betsy Cohen said about 30% of all SPACs in the market will fail, in an interview on Wednesday at the Bloomberg Invest Global conference. ...READ MORE

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Live Oak II (LOKB) Secures Additional PIPE & Backstop

Ahead of their October 12th shareholder vote to combine with Navitas Semiconductor, Live Oak II (NYSE: LOKB) announced this morning that they have secured an additional $18 million in PIPE financing along with a backstop via a Forward Purchase Agreement (FPA). The additional subscription agreement involves two additional subscribers for 1,800,000 shares of LOKB Class
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FirstMark Horizon Acquisition Corp. (FMAC) to Combine with Starry in $1.6Bn Deal

FirstMark Horizon (NYSE:FMAC) has entered into a definitive agreement to combine with internet service provider (ISP) Starry at an enterprise value of $1.66 billion, or 6.9x its 2025E adjusted EBITDA. Boston-based Starry provides wireless internet to consumers at gigabit speeds using narrow-wave technology. The combined company is expected to trade on under the symbol “STRY”
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Industrial Tech Acquisitions, Inc. (ITAC) Shareholders Approve Arbe Robotics Deal

Industrial Tech Acquisitions, Inc. (NASDAQ:ITAC) secured shareholder approval of its combination with radar technology firm Arbe Robotics in a meeting held yesterday. The press release reported that Arbe will receive $118 million in gross proceeds from the deal comprised of just $18 million of cash following ITAC’s redemptions, which implies redemptions of approximately 75% of
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LifeSci Acquisition II Corp. (LSAQ) Shareholders Approve Science 37 Deal

LifeSci Acquisition II Corp. (NASDAQ:LSAQ) announced in an 8-K filing today that it secured shareholder approval of its combination with software firm Science 37 in a special meeting held on Monday, October 4. The filing did not disclose redemption numbers, but LSAQ traded below $10 throughout its redemption deadline September 30, and opened today at $8.83.
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