Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC Liquidations: Orion, Austerlitz I, Austerlitz II, Fortress Value II, and Fortress Value IV
Orion Acquisition Corp. to Liquidate Trust
Orion (NASDAQ:OHPA) disclosed in an 8-K this afternoon that shareholders have approved an amendment to move up the company’s liquidation date. Orion now intends to liquidate on December 1, 2022, due to its inability to complete a business combination.
In connection with the special meeting, stockholders holding an aggregate of 36,634,446 shares exercised their right to redeem their shares for approximately $10.08 per share of the funds held in the trust.
READAusterlitz Acquisition Corp. I to Liquidate Trust
Austerlitz Acquisition Corp. II to Liquidate Trust
Austerlitz II (NYSE:ASZ) disclosed in an 8-K this afternoon that shareholders approved a proposal to amend the company’s liquidation date from March 2, 2023 to November 22, 2022. Since ASZ was unable to complete a business combination, the SPAC will now redeem all issued and outstanding shares as promptly as reasonably possible, but not more than ten business days.
Fortress Value Acquisition Corp. III to Liquidate Trust
Fortress Value III (NYSE:FVT) disclosed in an 8-K this afternoon that shareholders approved a proposal to amend the company’s liquidation date from January 7, 2023 to November 22, 2022.
The company expects to complete the mandatory redemption on or around November 30, 2022 at a per-share redemption price of approximately $10.07.
READFortress Value Acquisition Corp. IV to Liquidate Trust
Fortress Value II (NYSE:FVIV) disclosed in an 8-K this afternoon that shareholders approved a proposal to amend the company’s liquidation date from March 18, 2023 to the later of November 22, 2022.
The company expects to complete the mandatory redemption on or around November 30, 2022 at a per-share redemption price of approximately $10.07.
READAGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...