Kensington Capital Acquisition Corp. V (NYSE:KCGI) announced this afternoon that it has mutually terminated its business combination with EV-maker Arrival (NASDAQ:ARVL).
The SPAC’s combination with Arrival was 2023’s second repeat de-SPACing as it followed in the footsteps of Wejo (NASDAQ:WEJO), which also completed a 2021 SPAC deal and then announced a new one in January with TKB Critical Technologies 1 (NASDAQ:USCT). However, TKB 1 also terminated its merger with Wejo just a week ago.
Arrival originally went public in March 2021 through a $5.4 billion combination with CIIG Merger Corp. The EV-maker noted that its intention is to now shift its focus towards pursuing and advancing other opportunities and has engaged the services of TD Cowen and Teneo Financial Advisory to ensure a seamless transition and will pursue alternative avenues that will provide it with additional liquidity.
Kensington V initially announced the $542 million business combination with Arrival in April and planned to bring about $283 million into the deal through its trust.
Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...