Morning Roundup: October 6, 2023
by Nicholas Alan Clayton on 2023-10-06 at 7:49am

At the SPAC of Dawn

Good morning! Watch this space moving forward as a roundup of evening filings as well as news nuggets to nibble on beside your morning coffee.

After the first full month without a SPAC IPO in nearly a year and a half, Thursday night saw two new vehicles begin floating, Quetta and Spark I.

This came along news that Omeed Malik, a former Bank of America managing director, is planning to take another plunge into the SPAC waters. He steered his first SPAC, Colombier, to a close with PSQ Holdings (NYSE:PSQH) in July. The company aims to assemble an Amazon-like marketplace of goods free from curation pressures from the political left.

It joined a growing number of broadly “anti-woke de-SPACs” that had beaten the wider SPAC market early on. But, these companies have failed to maintain the highs of Digital World‘s (NASDAQ:DWAC) hype. Conservative social network Rumble (NASDAQ:RUM) last closed at $5.13, while Black Rifle Coffee (NYSE:BRCC) sits at $3.17.

For its part, PSQ last closed at $8.21 still within the parties’ lock-up period. Digital World nonetheless continues to coast at $15.83 in hopes that the epic review process for its combination with Trump Media & Technology Group comes to a close.


Latest Liquidations and Reversals

  • LatAmGrowth SPAC (NASDAQ:LATG) has permanently adjourned its special meeting to approve an early liquidation, potentially reversing its decision to dissolve ahead of its October 27 deadline which could be pushed to November 27 without further shareholder approvals.

News and Rumors

  • Fast Acquisition Corp. has agreed to pay a $12.5 million settlement in a legal fight over the $33 million breakup fee from the SPAC’s failed merger with Tilman Fertitta’s hospitality business.
  • Omeed Malik, founder of Farvahar Partners is planning to raise a new SPAC with a trust of at least $130 million despite recent chilly conditions following his steering of Colombier.
  • Into the struggle of EQRx (NASDAQ:EQRX) to commercialize its clinical findings following its combination with CM Life Sciences III in 2021.
  • IndiEV files for bankruptcy having terminated its combination with Malacca Straits in June, freeing up space in a factory at the heart of a lawsuit between Foxconn (TW:2354) and Lordstown.

Scheduling Notes


Morning Roundup: October 6, 2023
Recent Posts
by Nicholas Alan Clayton on 2025-07-14 at 12:51pm

Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...

by Nicholas Alan Clayton on 2025-07-14 at 11:13am

Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...

by Kristi Marvin on 2025-07-14 at 9:19am

This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...

by Nicholas Alan Clayton on 2025-07-14 at 8:30am

At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...

by Kristi Marvin on 2025-07-12 at 10:02am

Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved