Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC Liquidations: Broadscale, Revolution Healthcare, Research Alliance II, and Kairos
Broadscale Acquisition Corp. to Liquidate
On December 6, 2022, stockholders of Broadscale Acquisition Corp. (NASDAQ:SCLE) approved amendments to change the termination date from February 17, 2023 to December 8, 2022.
In connection with the amendment, the holders of 33,825,224 shares exercised their right to redeem their shares for cash at a redemption price of approximately $10.08 per share, for an aggregate redemption amount of approximately $340.95 million. Following the redemptions, 674,776 shares remain outstanding.
Broadscale estimates that the total redemption amount will be approximately $6.75 million, and the per-share Redemption Amount will be approximately $10.00.
READRevolution Healthcare Acquisition Corp. Shareholders Approve Liquidation Date Amendment
On December 2, 2022, Revolution Healthcare (NASDAQ:REVH) held a special meeting of stockholders to amend the company’s termination date from March 22, 2023, to December 2, 2022. The amendment was approved with 44,363,975 votes in favor of it and 22,042 against it.
READResearch Alliance Corp. II Shareholders Approve Liquidation Date Amendment
On December 2, 2022, Research Alliance II (NASDAQ:RACB) held a special meeting of stockholders to amend the company’s termination date from March 22, 2023, to December 2, 2022. The amendment was overwhelmingly approved with 16,553,346 votes in favor of it and just 1,854 votes against it.
READKairos Acquisition Corp. Announces Liquidation
Kairos Acquisition Corp. (Nasdaq: KAIR) announced today that due to its inability to complete a business combination, the company intends to dissolve and liquidate, effective as of the close of business on December 6, 2022, and will redeem all of the outstanding shares at a per-share redemption price of approximately $10.08.
The redemption of the shares is expected to be completed by January 3, 2023.
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At the SPAC of Dawn During a week in which rare earth mining and space de-SPACs have seen major gains, another blast from the past is making serious waves in the market. EV battery developer QuantumScape (NYSE:QS) rose to a 52-week high of $13.79 yesterday and is cruising even higher in the pre-market. The company...
Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...
At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...