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We are pleased to announce that options are now trading on MSTU and MSTZ
Going to be participating in the Market Minds Summit on 9/25 at 2:45PM EST. I still think I have some complimentary tickets left so hit me up if you want one.
LAST WEEK IN REVIEW
- 2 SPAC IPOs priced this past week for ~$120.0M
- 3 new SPAC IPOs were put into registration for $650.0M
- 3 SPACs announced business combinations for a total EV of ~$3.9B. Transactions include: Chebghe II / Polibelli Group (EV of ~$3.6B) and Horizon Space / Squirrel Enlivened (EV of ~$200.0M)
Total Active SPACs
205
$12.9bln
Pre-Deal / Seeking
99
$9.2bln
Announced Mergers
10
$3.7bln
S-1s Awaiting Pricing
29
$3.7bln
Integral Acq Corp 1( INTEU, INTE, INTEW) – Preliminary Proxy to extend charter
- https://www.sec.gov/Archives/edgar/data/1850262/000119312524222973/d835252dpre14a.htm
- shareholder vote date: Oct 28, 2024
- record date: September 17, 2024
- a proposal to amend the Company’s amended and restated certificate of incorporation, as previously amended pursuant to votes of the Company’s stockholders on May 3, 2023 and November 2, 2023, respectively (the “Charter”), in the form set forth in Annex A to the accompanying Proxy Statement (the “Third Extension Amendment” and such proposal, the “Third Extension Amendment Proposal”), to extend the date by which the Company must (i) consummate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (a “Business Combination”), (ii) cease all operations except for the purpose of winding up, and (iii) as promptly as reasonably possible, but no more than ten business days thereafter, redeem the Class A common stock of the Company, par value $0.0001 per share (the “Class A Common Stock”) included as part of the units (the “Public Shares”) sold in the Company’s initial public offering that was consummated on November 5, 2021 (the “IPO”), from November 5, 2024 to November 5, 2025, on a monthly basis (or such earlier date as determined by the Company’s board of directors (the “Board”)) (the “Third Extension”, and such later date, the “Third Extended Date”)
- If the Third Extension Amendment Proposal is approved and the Board decides to implement the Third Extension, the Sponsor or its designees have agreed to loan the Company (the “Loans”) (i) the lesser of (x) $[ ] or (y) $[ ] for each Public Share that is not redeemed (such amount, the “Monthly Amount”) plus (ii) if the Business Combination is not consummated by December 5, 2024, the Monthly Amount for each calendar month (commencing on December 6, 2024 and ending on the 5th day of each subsequent month), or portion thereof, that is needed by the Company to complete the Business Combination until November 5, 2025.
New Providence Acq Corp II( NPABU, NPAB, NPABW) – Preliminary Proxy to extend charter
- https://www.sec.gov/Archives/edgar/data/1837929/000121390024080720/ea0215226-01.htm
- shareholder vote date: November 1, 2024
- record date: September 19, 2024
- proposal to amend the Company’s amended and restated certificate of incorporation, as previously amended pursuant to votes of the Company’s stockholders on May 5, 2023 and May 9, 2024 (the “Charter”), in the form set forth in Annex A to the accompanying Proxy Statement (the “Third Extension Amendment” and such proposal, the “Third Extension Amendment Proposal”), to extend the date by which the Company must (i) consummate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (a “Business Combination”), (ii) cease all operations except for the purpose of winding up, and (iii) as promptly as reasonably possible, but no more than ten business days thereafter, redeem the Class A common stock of the Company, par value $0.0001 per share (the “Class A Common Stock”) included as part of the units (the “Public Shares”) sold in the Company’s initial public offering that was consummated on November 9, 2021 (the “IPO”), from November 9, 2024 on a monthly basis, up to twelve (12) times, until November 9, 2025 (the “Third Extension”, and such later date, the “Third Extended Date”)
Future Tech II Acq Corp (FTIIU, FTII, FTIIW) – 8K – Merger Agreement for Longevity Biomedical businesscombination
Atlantic Coastal Acq CorpII ( ACABU, ACAB, ACABW) – 8K – shareholders approve charter extension
- https://www.sec.gov/ix?doc=/Archives/edgar/data/1893219/000119312524222871/d576301d8k.htm
- As of the close of business on September 19, 2024, stockholders holding a total of 126,122 public shares of Series A common stock exercised and did not reverse, their right to redeem their public shares in connection with the vote upon the Charter Amendment Proposal. As a result of the foregoing, those holders will receive a payment of approximately $11.27 per share redeemed.
Investcorp India Acq Corp( IVCAU, IVCA, IVCAW) – Prelim Proxy to change SPAC name
- Shareholder vote: Oct 10,2024
- Record date: September 20, 2024
- https://www.sec.gov/Archives/edgar/data/1852889/000119312524222874/d812205dpre14a.htm
- The Name Change Proposal — to approve, as a special resolution, the change of the Company’s name from Investment India Acquisition Corp. to Investcorp AI Acquisition Corporation (the “Name Change”) and, immediately following the approval of the Name Change, the amendment of the company’s Amended and Restated Memorandum and Articles of Association (as may be amended from time to time, the “Articles”) pursuant to an amendment to the Articles in the form set forth in Annex A of the accompanying proxy statement to reflect the Name Change (the “Name Change Proposal”).
Clover Leaf Capital Corp (CLOEU, CLOE, CLOER) – 8K Kustom Entertainment approval meeting adjourned
- https://www.sec.gov/ix?doc=/Archives/edgar/data/1849058/000121390024080732/ea0215261-8k425_clover.htm
- shareholder vote date is now September 27, 2024
Upcoming Shareholder Vote Dates
9/26/2024
XFIN shareholder meeting to approve Baird Medical business combination
9/27/2024
CLEO shareholder meeting to approve Kustom Entertainment business combination
9/30/2024
LCW shareholder meeting to approve Innventure business combination
10/14/2024
INAQ shareholder meeting to approve Alpha Modus business combination
Monday 9/16
- QXO Inc.some text
- On September 16, Rexel, a French electrical-supplies distributor announced that they denied QXO’s 28.40 euros a share, which values the bid at 8.62 billion euros.
Tuesday 9/17
- Intuitive Machines Inc. (LUNR)some text
- On September 17, LUNR announced NASA awarded them a contract for a near space network with a maximum potential value of $4.82B. The warrants (LUNRW) have takeout protection, an $11.50 strike, and a 2/13/28 expiry.
- Talkspace Inc. (TALK)some text
- On September 17, TALK announced they partnered with Amazon Health Services. The warrants (TALKW) have takeout protection, an $11.50 strike, and a 6/23/26 expiry.
- Sky Harbour Group Corp (SKYH)some text
- On September 17, SKYH announced they have raised a $31.8mm PIPE at $9.50 per share. The warrants (SKYH/WS) have takeout protection, an $11.50 strike, and a 1/26/27 expiry.
- SES AI Corp (SES)some text
- On September 17, SES announced a collaboration with NVIDIA, Crusoe, and Supermirco on AI for electric transportation batteries. The warrants (SES/WS) have takeout protection, an $11.50 strike, and a 2/4/27 expiry.
- Chenghe Acquisition II (CHEB)some text
- On September 17, CHEB announced they have entered into a business combination with Polibeli Group, a B2B online grocery store platform in Indonesia.
- Horizon Space Acquisition I Corp (HSPO)some text
- On September 17, HSPO announced they have entered into business combination with Squirrel Enlivened, a brand marketing and strategy consulting company.
Wednesday 9/18
- Achari Ventures Holdings Corp I (AVHI)some text
- On September 18, Vaso Corp announced that they have terminated their pending merger with AVHI. AVHI had received shareholder approval for the merger on 9/10 and have not indicated whether they will seek another target.
Friday 9/20
- Sables Offshore Corp (SOC)some text
- On September 20, SOC announced they have raised an $150mm PIPE and that they have received ~$65mm in proceeds from warrant exercises. The warrants (SOC/WS) have takeout protection, an $11.50 strike, and a 2/14/29 expiry.
- Solid Power Inc. (SLDP)some text
- On September 20, SLDP announced they were selected by the US Department of Energy for an up to $50mm award negotiation. The warrants (SLDPW) have takeout protection, an $11.50 strike, and a December 9. 2026 expiry.
- FutureTech II Acquisition Corp (FTII)some text
- On September 20, FTII announced they have entered into a definitive business combination with Longevity Biomedical, a biopharma company.
- Berenson Acquisition I (BACA)some text
- On September 20, BACA announced their deal with Custom Health was terminated. BACA's deadline is 9/30/24 and do not have a proxy filed to extend.
Friday 9/20 After the Close
- Bold Eagle Acquisition Corp (BEAGU)some text
- On September 20, Bold Eagle filed for a proposed $250mm IPO. The Eagle Equity sponsor team, lead by Harry Sloan, have completed previous de-SPACs including Draftkings (DKNG), Gingko Bioworks (DNA), Lionsgate Studios (LION), and Skillz (SKLZ), among others.
