Banner Acquisition Corp. (NASDAQ: BNNR) this afternoon announced that it has entered into multiple non-binding letters of intent (LOI) with target companies in the property services sector.
The SPAC did not disclose exactly how many targets will be a part of this possible merger, but it intends to continue seeking additional acquisition targets that provide services in similar areas such as cleaning, HVAC, plumbing, landscaping, pest control, and residential solar.
Although Banner was originally facing a completion deadline of March 11, having a signed LOI automatically adds an additional three months to the SPAC’s timeline, and it will now have until June 10 to complete a business combination.
It announced the pricing of its $150 million IPO in September 2021 and initially set out to seek a partnership with family-owned or founder-led businesses with tenured management teams.
Through this possible merger, the SPAC hopes to create a new publicly traded platform focused on property services.
Trailblazer Merger Corporation I priced its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “TBMCU” Wednesday, March 29, 2023. The SPAC intends to focus its search on companies operating in the technology industry in the following segments: cloud as a service, supply chain technologies, servicing the hybrid workforce...
Alpine (NYSE:REVE) announced this afternoon that it has again adjourned its special meeting to complete its transaction with experiential entertainment company Two Bit Circus. The SPAC originally intended to hold its special meeting on February 24, but has adjourned it four times since then. Alpine now expects to reconvene the meeting on March 30 at 12:00 p.m....
Home Plate Acquisition Corporation (NASDAQ:HPLT) announced that it adjourned its extension vote today and will reconvene the special meeting at 10:30 am ET on March 30. At the upcoming meeting, the SPAC hopes to gain shareholder approval to extend its completion deadline from April 4, 2023, to October 4, 2023. Home Plate announced a $214 million business combination with...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Ares considers raising $400M for new SPAC and electric air mobility division of AIRO and Kernel Group sign MOU with Blade India Ares Considers New $400 Million SPAC Despite Market Lull Ares Management Corp....
DiamondHead Holding Corps. (NASDAQ:DHHC) announced in an 8-K this morning that it has entered into subscription agreements with lock-up investors and PIPE investors in connection to its business combination with Great Southern Homes. Although the deal was approved by shareholders during a meeting last Thursday, the parties are still working to raise funds to meet...