At the SPAC of Dawn As we close out Passover and head into Easter weekend, we’re reminded that even the most hopeless situations, like wandering the desert for 40 years, being dead for three days, or trying to close a DeSPAC with zero redemptions in this market, can eventually turn around. After all, SPACs have...
Globa Terra Acquisition Corporation (NASDAQ:GTERU) has filed for a $152.2 million SPAC to find an agriculture or food-tech target company The new SPAC is overfunded to 100.5% and is set to have both a 3/4 warrant and right to a 1/20 share in each of its units. This vies for the most investor-friendly unit coverage of...
EGH Acquisition Corp. (NASDAQ:EGHAU) has filed for a $150 million SPAC to continue the work of the Tortoise serial SPAC team under a fresh name. The new SPAC is not overfunded and will have one right to a 1/10 share in each of its units. It will have 24 months to initially close a business...
Yorkville Acquisition Corp. has filed for a $150 million SPAC to bring the sponsor’s experience in SPAC investing to a search for a technology, media or telecom target. The new SPAC is overfunded to 100.5% with $10.05 per unit in trust initially. Each unit is set to contain a 1/3 share and it will have...
At the SPAC of Dawn This week’s trading comes to an end later today as the US exchanges will observe the Good Friday holiday (but the SEC’s EDGAR filing system will not). Dow futures ahead of this session remain in the red although both the S&P 500 and Nasdaq look to make up some losses...
This week, we return to another episode from 2021, when we spoke with Will Marshall, Co-founder and CEO of Planet Labs (NYSE:PL). Planet provides data services drawn from its fleet of about 200 satellites that generate a complete image of the earth’s surface every day. It just celebrated its first quarter of EBITDA profitability, but at...
Vendome Acquisition Corporation I (NASDAQ:VNMEU) has filed for a $150 million SPAC to hunt for a consumer target in a developed market. Investors in the new SPAC will get a 1/2 warrant in each unit and its trust is not overfunded. But, Vendome I may potentially have a sooner redemption event than most recently issued...
Timber Road Acquisition Corp. (NASDAQ:TMRDU) has filed for a $200 million SPAC to put its team’s real estate investing experience to work as it conducts a broad search for a target. The new SPAC is to include one right to a 1/8 share in each unit and is underwritten by Roth Capital Partners. It becomes Roth’s...
Gores Holdings X, Inc. (NASDAQ:GTENU) has filed for a $260 million SPAC to continue building the consistent track record of the Gores team. This is to be the team’s first outing with Santander as its underwriter after all 15 previous Gores SPACs were underwritten by Deutsche Bank. Of these, 14 made it to an IPO...
Ares Acquisition Corporation II (NYSE:AACT) has entered into a definitive agreement to combine with autonomous trucking firm Kodiak at a pro forma enterprise value of $2.67 billion. Mountain View, California-based Kodiak has developed driverless heavy truck technology for the industrial, logistics and defense sectors. Transaction Overview Ares II has an estimated $556 million in trust...