Perception Capital Corp. II (PCCT) Completes Spectaire Deal
by Nicholas Alan Clayton on 2023-10-19 at 1:47pm

Perception Capital Corp. II (NASDAQ:PCCT) announced this afternoon that it has closed its combination with Spectaire and the emissions equipment-maker’s shares and warrants will begin trading on the Nasdaq October 20 under the symbols “SPEC” and “SPECW”.

There will not be a large number of shares for the taking initially, as some traders already appear to have noticed.

Perception II revealed in an October 11 8-K that its last vote left it with 31,417 shares post-redemptions and the SPAC briefly spiked to $15.40 the following trading day, presumably influenced by trades testing a low-float situation. As such, the completed company could see some movement tomorrow, but for now it has tumbled to about $6 after midday.

The SPAC did manage to secure additional committed equity over the medium term earlier this month, however, as PIPE investor Dr. Jörg Mosolf agreed to purchase 50,000 shares at $10 per share and an additional $3 million over the first two years following close.

Perception II inked the $203 million combination with Spectaire earlier this year in January. Watertown, Massachusetts-based Spectaire provides a precision micro mass spectrometer designed to help companies demonstrate carbon emission reductions.

Its unique business model aims to draw recurring revenue from its spectrometer devices as clients pay it a share of the carbon credits they receive as they demonstrate emissions reductions through their use.

Recent Posts
by Marlena Haddad on 2023-11-28 at 10:03am

Plum Acquisition Corp. I (NASDAQ:PLMI) has entered into a definitive agreement to combine with digital transformation company Veea for a total enterprise value of approximately $281 million. New York City-based Veea aims to simplify secure edge computing by improving application responsiveness, reducing bandwidth and data transport costs, and eliminating central cloud dependency. The parties expect the transaction to be...

by Nicholas Alan Clayton on 2023-11-28 at 8:43am

L Catterton Asia (NASDAQ:LCAA) announced this morning that it has upsized the committed financing in its combination with EV sports car maker Lotus to $870 million in total. The latest fuel injection comes in the form of $750 million in convertible notes and PIPE commitments under so far undisclosed terms. Counted purely as a PIPE,...

by Nicholas Alan Clayton on 2023-11-28 at 7:43am

At the SPAC of Dawn SPAC closing timelines can always be somewhat unpredictable, but PROOF I (NYSE:PACI) has the opportunity today to vie for a recent speed record today. It announced a combination with private aviation firm Volato 118 days ago on August 2 and its shareholders are set to vote to approve the combination...

by Marlena Haddad on 2023-11-27 at 1:21pm

Dune Acquisition Corporation (NASDAQ:DUNE) announced in an 8-K today that it has once again modified its agreement with sustainable energy firm Global Hydrogen. This amendment marks a reduction in Global Hydrogen’s equity value from $48 million to $43 million, alongside an increase in the available shares of common stock that is for the Global Gas Corporation...

by Nicholas Alan Clayton on 2023-11-27 at 7:43am

At the SPAC of Dawn After mixed signals for the consumer sector earlier this month, initial Black Friday sales numbers have shown that Americans were not too stuffed for a shopping spree this year. Shoppers bagged between $9.8 billion and $10 billion in goods online, depending on one’s preferred source, either of which would be...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved