Last night, while everyone was still recovering from the Christmas holiday, another new SPAC was filed making the forthcoming 2019 IPO count SIX. This latest SPAC is Pivotal Acquisition Corp., a $200 million IPO being led by none other than Jonathan Ledecky, one of the more prolific SPAC issuers, circa 2005 to 2009, setting the template for serial SPAC issuers such as the Gores and Fintech teams. More
'Twas the night before Christmas, when all through SPACLand Not a creature was stirring, not even Chardan; The suit jackets were all hung by the desk chairs with care, In hopes that a deal soon would be there; The attorneys were nestled all snug in their chairs; While visions of bonuses danced in their heads; And my laptop in its sleeve, and I in my SPACInsider cap, Had just settled my brain for a long winter's nap, When out on sixth avenue, there arose such a clatter, I sprang from my desk to see what was the matter. More
There was a flurry of news and filings Friday afternoon ahead of the Christmas Holiday week and ahead of the government shutdown (which could also shut down the SEC - more on that at the bottom of this post). More
UPDATE: Additional information on the Black Ridge transaction with Ourgame International Holdings was released this morning and the following is a summary of selected details found in the filings: The transaction is expected to close in the first quarter of 2019 Earn-out: the former owners of Allied Esports and WPT will be entitled to receive their pro rata portion of an aggregate of an additional 3,846,153 shares of Black Ridge Common Stock if the last sales price of the Black Ridge Common Stock equals or exceeds $13. More
PIPE with THL for up to $750 Million now at $8.50 per share Federal Street Acquisition Corp. ("FSAC") announced early this morning that they have amended both the merger agreement with Agiliti Health and the subscription agreement with Thomas H. More
Black Ridge Acquisition Corp. (BRAC) announced tonight they have signed a definitive agreement with Ourgame International Holdings Ltd. (“Ourgame”) to acquire two of Ourgame’s global esports and entertainment assets, Allied Esports International, Inc. More
Draper Oakwood Technology Acquisition, Inc., announced this evening that shareholders approved their business combination with Reebonz Limited. No details on vote counts or redemption values/amounts were provided, however, Reebonz has applied for listing of its ordinary shares and warrants on the NASDAQ Stock Market under the ticker “RBZ". More
Federal Street Acquisition Corp. (FSAC), announced this afternoon, that they will be adjourning their special meeting of FSAC stockholders, originally scheduled to be held today, December 17, 2018. The new meeting date will now be held on Thursday, January 3rd, 2019. More
This afternoon, Deutsche Bank filed their second January SPAC with RMG Acquisition Corp. (RMG.U), a $200 million IPO focused on the diversified resources and industrial materials sectors. RMG will be led by Robert S. More
This morning, Draper Oakwood Technology (DOTA), put out an 8-K with additional details on their two backstop arrangements to secure their combination with Reebonz. Notably, the two backstop investors are S-4 Limited, which agreed to acquire 1,000,000 shares in the open market on Friday, and Vertex, which agreed to acquire $5 million worth of shares in the open market on Friday. More
