Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC Liquidations: Sierra Lake, Z-Work, Lerer Hippeau, and Climate Real Impact Solutions II
Sierra Lake Acquisition Corp. Shareholders Approve Liquidation
Sierra Lake Acquisition Corp. (NASDAQ: SIER) announced today that due to its inability to consummate an initial business combination, it will dissolve and liquidate, effective as of the close of business on December 8, 2022, and will redeem all of the outstanding shares of Class A common stock at a per-share redemption price of approximately $10.12.
READZ-Work Acquisition Corp. Shareholders Approve Liquidation
At the special meeting of stockholders of Z-Work (NASDAQ:ZWRK) held on December 8, 2022, stockholders approved an amendment to allow the company to redeem all of its outstanding shares of Class A common stock today instead of its contractual expiration date of February 2, 2023.
Z-Work expects to complete the mandatory redemption on or around December 9, 2022 at a per share redemption price of approximately $10.076.
READLerer Hippeau Acquisition Corp. Shareholders Approve Liquidation
On December 7, 2022, the stockholders of Lerer Hippeau Acquisition Corp. (NASDAQ:LHAA) to allow LHAA to unwind and redeem all of its outstanding public shares prior to December 30, 2022.
Following the amendment, the Board of Directors of the Company set December 14, 2022 as the amended termination date.
Holders of 22,147,102 public shares of Class A common stock exercised their right to redeem their shares for cash at a redemption price of approximately $10.09 per share, for an aggregate redemption amount of approximately $223,496,059.56. Following such redemptions, 119,083 public shares of Class A Common Stock remain outstanding.
READClimate Real Impact Solutions II Acquisition Corp. Shareholders Approve Liquidation
At the special meeting of stockholders of Climate Real Impact Solutions II Acquisition Corporation (NYSE:CLIM) held on December 8, 2022, stockholders approved an amendment to allow CLIM to redeem all of its outstanding shares of Class A common stock on December 8, 2022 instead of its original date of January 29, 2023.
The company expects to complete the mandatory redemption on or around December 9, 2022 at a per-share redemption price of approximately $10.04.
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Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...