INTEL

Marquee Raine (MRAC) to Combine with Enjoy in $1.2Bn Deal

Marquee Raine (NASDAQ:MRAC) has entered into a definitive agreement to combine with technology-powered service platform Enjoy Technology Inc. at an enterprise value of approximately $1.2 billion, or 4.8x the estimated 2022 revenues. Enjoy offers “commerce at home” by hand-delivering consumer orders and configuring electronic devices in the comfort of their own home. The combined company
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Galileo Acquisition Corp. (GLEO) to Combine with Shapeways in $410M Deal

Galileo (NYSE:GLEO) has entered into a definitive agreement to combine with digital manufacturing firm Shapeways at an enterprise value of $410 million, or 4.8x its 2022E revenue. Shapeways provides a software platform for designers to have digitally-designed parts or products optimized and manufactured out of its Long Island City, NY facilities. The combined company is
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Star Peak Energy Transition Corp. (STPK) Shareholders Approve Stem Deal

Star Peak Energy Transition (NYSE:STPK) announced in an 8-K filing that its shareholders approved its business combination with energy storage company Stem with minimal shares redeemed earlier today.

About 59.6% of Star Peak shares participated in the vote at a special meeting and overwhelmingly approved the business combination and other governance proposals on the ballot. ...READ MORE

news update

EV Targets Announce Strategic Partnerships

Over the past several quarters, automotive tech firms generated a great deal of excitement as they attempted to disrupt the industry via SPACs, but have since had a rough ride with a down market across the SPAC space. Pre-revenue SPAC targets have also been the subject of some open-air critiquing by the SEC for trumpeting
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Blue Water Acquisition Corporation (BLUW) to Combine with Clarus in $216M Deal

Blue Water (NASDAQ:BLUW) has entered into a definitive agreement to combine with pharmaceutical firm Clarus Therapeutics at an enterprise value of $215.9 million. Clarus provides testosterone replacement therapy (TRT) drugs in an oral pill form under the JATENZO brand and is developing other androgen and metabolic therapies. The combined company is expected to trade on
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Alberton Acquisition Corporation (ALAC) Extends Transaction Deadline

Alberton Acquisition Corporation (NYSE:NGA) announced that its shareholders approved an extension of its transaction deadline to October 26, but approximately 9.6% of shareholders opted to redeem shares in connection with the vote. Shareholders voting at Alberton’s special meeting April 23 redeemed a total of 135,069 shares removing an estimated $1.48 million from its trust. Redemptions
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Sports Entertainment Acquisition Corp. (SEAH) to Combine with Super Group in $4.6Bn Deal

Sports Entertainment (NYSE:SEAH) has entered into a definitive agreement to combine with Super Group at an enterprise value of $4.64 billion, or 13.3x its 2021E EBITDA. UK-based Super Group provides online sports betting through its Betway brand and an online casinos under the Spin brand with 2.5 million monthly active customers. The combined company is
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SPAC-Terms-Tracker

SPAC IPO Terms Tracker: Patiently Waiting

Apr 25, 2021 INTEL by Matt Cianci
Terms Tracker for the Week Ending April 23, 2021 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Another quiet week means teams are racing to figure out how to reconcile the SEC’s warrant-reclassification. This also means we are one week closer to
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RUMORS

Friday Rumor Roundup: Even EVs Need Maps

The rumor mill slowed down this week as SPACland players were likely too busy trying to get their auditors on the phone to understand the way forward on warrant language rather than chat with reporters. But there is never a full shortage of chatter touching upon what teams may be up to. We collected this
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Northern Genesis Acquisition Corp. (NGA) Shareholders Approve Lion Electric Deal

Northern Genesis (NYSE:NGA) announced that its shareholders approved its business combination with EV-maker Lion Electric at its special meeting held earlier today.

The business combination will now be completed shortly, however the parties have opted to wait until Northern Genesis has had the opportunity to file an amended 10-K, re-stating its warrants as derivative liabilities in response to recent SEC comments. ...READ MORE

spacs on sale

SPACs on Sale: SPACs Below NAV Now the Majority

SPACs on Sale SPAC new issuance has ground to a halt with the change in accounting treatment of warrants and inquiry into SPAC merger projections initiated by the SEC. Alongside this, the market has also cooled and term changes for new SPACs have been slightly negative to flat as many teams would rather wait out
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Fifth Wall Acquisition Corp. I (FWAA) to Combine with Smart Rent in $1.7Bn Deal

Apr 22, 2021 INTEL by Kristi Marvin
Fifth Wall Acquisition Corp. I (NASDAQ:FWAA) has entered into a definitive agreement to combine with Smart Rent, a smart home technology platform for property managers and residents at an enterprise value of $1.66 billion, or 4.4x its 2022E revenue multiple. Scottsdale, Arizona-based SmartRent is a proptech company that provides the real estate industry with deeply
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Vivid Seats

Horizon Acquisition Corporation (HZAC) to Combine with Vivid Seats in $2Bn Deal

Horizon (NYSE:HZAC) has entered into a definitive agreement to combine with ticket marketplace Vivid Seats at an enterprise value of $2.059 billion, or 4.5x its 2022E revenue. Chicago-based Vivid provides a marketplace for the $39 billion concert, theatre and sporting event ticket market. Transaction Overview Horizon is funding the deal with about $544 million in
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SPACs SEC paperwork

Roman DBDR Tech Acquisition Corp. (DBDR) to Combine with CompoSecure in $1.2Bn Deal

Roman DBDR (NASDAQ:DBDR) has entered into a definitive agreement to combine with cryptocurrency storage and payments provider CompoSecure at an enterprise value of $1.2 billion, or 10.3x its 2020 adjusted EBITDA. New Jersey-based CompoSecure provides metal credit cards to banks and payments processors and, in 2021, it is rolling out a proprietary crypto payments and
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SPAC-Terms-Tracker

SPAC IPO Terms Tracker: Grinded To A Halt*

Apr 16, 2021 INTEL by Matt Cianci
Terms Tracker for the Week Ending April 16, 2021 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. April has not been the friendliest of months to those in SPAC-land: between poor performance, tightening terms, and a couple SEC letters, the IPO market
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RUMORS

Friday Rumor Roundup: SPACs Getting Back into Ads

Although IPO flow has slowed as teams consider adjustments based on the SEC’s recent statement on warrants, the flow of chatter out of deal-making circles is still on full blast. We have assembled the latest rumored deals for your weekend reading: Simplifi D and Z Media Acquisition Corp. (NYSE:DNZ) is reportedly in talks to merge
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