Union II (NASDAQ:LATN) has entered into a definitive agreement to combine with pharmaceutical manufacturer Procaps Group at an enterprise value of $1.1 billion, or 10.75x its 2021E EBITDA. Barranquilla, Colombia-based Procaps is one of the world's largest manufacturers of softgel medicines and offers a range of other diversified pharmaceutical products and services. More
Nocturne Acquisition Corporation announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol "MBTCU", Wednesday, March 31. The new company aims to combine with a disruptive technology target valued at $300 million to $1 billion with blockchain or AI innovations. More
Nebula Caravel (NBEC) & Rover will be holding a live presentation and Q&A today at 2:00 p.m. (ET). If you haven’t previously registered, you can do so by clicking the link below. More
As yet another reminder of the changing nature of SPACs and their shareholder base, and the new risks involved with a shareholder vote, Collective Growth (CGRO) is currently facing its own "shortage" of shares that are participating in its vote tomorrow to complete its combination with Innoviz. More
Qell (NASDAQ:QELL) has entered into a definitive agreement to combine with electric vertical take-off and landing jet (eVTOL) maker Lilium at an enterprise value of $2.37 billion, or 1.8x its 2025E revenue. More
two (TWOA.U) announced the pricing of their $200 million IPO this morning and the shares are expected to begin trading on the NYSE under the symbol "TWOA", Tuesday, March 30. The new company intends to combine with a target advancing innovation and the democratization of technology with promising growth. More
CM Life Sciences II (NASDAQ:CMIIU) announced this morning that it will combine with proteomics firm SomaLogic at an enterprise value of $1.23 billion, or 14.6x its 2022E revenue. SomaLogic provides a technology platform for use both in proteomics research and medical diagnostics. More
AJAX I (NYSE:AJAX) has entered into a definitive agreement to combine with online car retailer Cazoo at an enterprise value of $7 billion, or 7.2x its 2021E revenue. London-based Cazoo provides a digitized marketplace for used cars available either for sale or via a subscription. More
Terms Tracker for the Week Ending March 26, 2021 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week's pricings. The month started out hot after pricing 98 SPACs in February, as the first week of March priced 39 IPO's. More
BowX Acquisition Corp. (NASDAQ:BOWX) has entered into a definitive agreement to combine with WeWork, the leading flexible space provider most known for its prior attempt at an IPO and SoftBank relationship, which came to the fore back in 2019. More
