The Latest SPAC News and Rumors: August 28, 2023
by Marlena Haddad on 2023-08-28 at 11:38am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Hostess Brands explores sale amid takeover interest, and Oklo and Centrus Energy sign MOU to support deployment of advanced fission technologies in Ohio


Twinkies maker Hostess Brands explores sale amid takeover interest, sources say

Hostess Brands Inc (NASDAQ:TWNK), the maker of Twinkies snack cakes, is exploring a sale after fielding takeover interest from major snack food makers, people familiar with the matter said on Friday.

Hostess became an acquisition target after it raised prices on some of its products to boost revenue, fueling investor concerns over its prospects. Prior to the news of the company exploring a sale, its shares were down 1% year-to-date, versus a 29% rise in the Nasdaq Composite Index.

Entrepreneur Dean Metropoulos and private equity firm Apollo Global Management Inc returned Hostess to the stock market in 2016 through a deal with a special purpose acquisition company backed by the private equity firm founded by Alec Gores.

READ

Oklo and Centrus Energy Sign Memorandum of Understanding for Fuel, Components, and Power Procurement to Support the Deployment of Advanced Fission Technologies in Southern Ohio

Oklo Inc. and Centrus Energy Corp. (NYSE American: LEU) today announced a new Memorandum of Understanding (“MOU”) between the two companies to support the deployment of Oklo’s advanced fission powerhouses and advanced nuclear fuel production in Southern Ohio, making the region a critical hub for the future of the U.S. nuclear industry. Oklo and Centrus have been partners since 2021 when the companies signed a Letter of Intent to cooperate in the development of a High-Assay, Low-Enriched Uranium (“HALEU”) fuel facility.

With this new MOU, Oklo and Centrus plan to enter into a broad range of collaboration programs supporting the development and operation of Oklo’s Aurora powerhouses including supply of HALEU produced by Centrus at its Piketon, Ohio, facility. Centrus also intends to buy clean, reliable, and affordable energy from Oklo’s planned Ohio plants to power its HALEU Production Facility.

On July 11, 2023, Oklo and AltC Acquisition Corp. (NYSE: ALCC) announced that they have entered into a definitive business combination agreement.


Recent Posts
by Nicholas Alan Clayton on 2023-09-21 at 2:34pm

LatAmGrowth SPAC (NASDAQ:LATG) announced in an 8-K that it adjourned its special meeting yesterday to liquidate early and will reconvene it at 2 pm ET September 28. The proposals on its ballot would have initiated the process of winding down the SPAC and returning all trust capital to investors outside of $100,000 for dissolution expenses....

by Nicholas Alan Clayton on 2023-09-21 at 11:33am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  JSE reviewing listing requirements with aim to simplify them The Johannesburg Stock Exchange will be reviewing all its listings requirements with the objective of further simplifying its requirements, as part of its ongoing efforts to create an...

by Nicholas Alan Clayton on 2023-09-21 at 7:36am

Nabors Energy Transition Corp. (NYSE:NETC) announced this morning that Vast has added an equity commitment of up to $10 million to its combination with concentrated solar power producer Vast. The new commitment comes at $10.20 per share from the Canberra Airport Group and half of it is to come up front at close. A further...

by Nicholas Alan Clayton on 2023-09-21 at 7:08am

M3-Brigade III (NYSE:MBSC) announced this morning that it has closed its combination with Canadian energy producer Greenfire and the combined company is expected to trade on the NYSE under the symbol “GFR” later today. Concurrent with close, Greenfire also issued $300 million in new senior secured notes at a 2% discount, priced at $980 per...

by Kristi Marvin on 2023-09-20 at 5:51pm

Murphy Canyon Acquisition Corp. (NASDAQ:MURF) announced this afternoon that its stockholders voted in favor of the proposed business combination with Conduit Pharmaceuticals Limited (“Conduit”). Details on the vote, along with redemption numbers, have not been filed yet, but the Company expects the closing to occur as soon as practicable, subject to the satisfaction or waiver...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved