Late Friday afternoon, we had two new IPO filings to replenish our previously dwindling supply of new issues. The first, Stable Road Acquisition Corp. (SRACU), is a $150 million cannabis-focused SPAC, being led by Brian Kabot, as Chairman and CEO. More
Contribution of $0.03 per month to Trust for shareholders that do not redeem. Legacy Acquisition Corp. (LGC), the $300 million SPAC led by Edwin Rigaud, which recently announced its combination with Blue Impact Group, filed a definitive proxy this morning setting a shareholder vote date of October 22nd. More
Below are the recently released Q-3 & YTD 2019 SPAC IPO Underwriting League Tables Methodology: In addition to the traditional methodology used whereby any bookrunner or lead manager gets full credit for IPO size to calculate deal volume, there are two additional rankings - volume by number of units sold and volume sold % market share (highlighted in green). More
Below are the recently released Q-3 & YTD 2019 SPAC IPO Legal League Tables For both the Third-Quarter, as well as Year-to-Date (YTD) 2019, Ellenoff Grossman & Schole ("EGS"), once again, led the SPAC IPO Legal League tables with a commanding number of legal assignments. More
The Happiest of Hours is in full effect tonight with two updates. In no particular order, the below is a round-up of current SPAC news. GIGCAPITAL, INC. (GIG) GigCapital, Inc. (GIG) filed an 8-K late this afternoon with some updates to its agreement with Greenhaven regarding its GIG Rights Shares. More
Lots of Gig News Tonight... Gig Capital (GIG) filed multiple documents tonight, so a summary of each has been provided below. Termination Date Extended Gig filed an 8-K tonight announcing that they have officially moved their Outside Date (when the Purchase Agreement can be terminated) from September 24, 2019 to December 12, 2019. More
Alberton Acquisition Corp. (ALAC), put out an 8-K this afternoon regarding the issuance of an unsecured promissory note for $1,148,800, but the entity to who it was issued was what tipped off that they had announced. More
So....uhhh, scratch that. BI Acquisition Corp. just withdrew their registration statement. The IPO is off. Well that was fast. In a somewhat surprising move, it seems the team and underwriters decided to pull this deal entirely rather than amend terms. More
As many of you already know, Gig Capital (GIG), announced on Friday evening that they have entered into a non-binding letter of intent with Greenhaven Road Capital, whereby Greenhaven has agreed to not sell the Shares underlying the 5,482,694 the Rights it currently owns until the later of the sixtieth day (60) after the closing of the Business Combination or January 1, 2020 (the “Closing Date”). More
Late Friday afternoon, we had a new IPO filing with BI Acquisition Corp. (BIACU), a $200 million metals, mining and natural resources focused SPAC being sponsored by Bedrock Industries. BI will be led by Alan Kestenbaum, as Executive Chairman of the Board, and David Cheney, as CEO and Director. More
