Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC Liquidations: Sandbridge X2 Corp., PWP Forward Acquisition Corp. I, Crucible Acquisition Corp., and Tishman Speyer Innovation Corp. II
Sandbridge X2 Corp. to Liquidate Trust
Sandbridge X2 Corp. (NYSE:SBII) disclosed in an 8-K this afternoon that shareholders have approved an amendment to allow the company to redeem all of its outstanding Class A common stock on or prior to December 15, 2022.
In connection with the meeting, holders of 21,611,237 outstanding shares exercised their right to redeem their shares for cash at a redemption price of approximately $10.09 per share, for an aggregate redemption amount of approximately $218,136,001.27. Following such redemptions, 2,206,464 shares remain outstanding and the company expects to redeem those shares at $10.09 as well.
READPWP Forward Acquisition Corp. I to Liquidate Trust
Crucible Acquisition Corp. to Liquidate Trust
Crucible Acquisition Corporation (NYSE:CRU) disclosed in an 8-K this afternoon that it held a special meeting of its stockholders at which the company’s stockholders approved amendments to dissolve and liquidate its trust.
The SPAC’s completion deadline was moved from January 7, 2023 to November 30, 2022. Holders of 24,243,057 shares exercised their right to redeem their shares for cash at a redemption price of approximately $10.09 per share, for an aggregate redemption amount of $244,554,766.56.
Following the redemptions, 1,631,943 shares remain outstanding will be redeemed for cash at a redemption price of approximately $10.03 per share, for an aggregate redemption amount of $16,362,422.20.
READTishman Speyer Innovation Corp. II to Liquidate Trust
At the special meeting of the stockholders of Tishman Speyer Innovation Corp. II (NASDAQ:TSIB) held this afternoon, stockholders of the company approved an amendment to change the termination date from February 17, 2023 to November 30, 2022.
The company now expects to complete the mandatory redemption on or around December 2, 2022, at a per-share redemption price of approximately $10.00.
READ
AGBA (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...