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The Latest SPAC News and Rumors: February 22, 2023
by Marlena Haddad on 2023-02-22 at 11:33am

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

Latest SPAC News: Bitcoin ATMs convert software; Chinese autonomous yacht-maker eying SPAC deal; Circle circling back to growth; Oaktree investing in SPAC IPOs

Bitcoin Depot Completes Software Conversion to Bitaccess Across Full Bitcoin ATM Fleet

Lux Vending, LLC dba Bitcoin Depot, a U.S.-based Bitcoin ATM operator and leading fintech company, announced today that all of its roughly 7,000 kiosks have been converted to BitAccess Inc. software, the premier software suite for Bitcoin ATM operations.

On August 24, 2022, Bitcoin Depot and GSR II Meteora Acquisition Corp. (“GSRM”), a special purpose acquisition corporation, entered into a definitive agreement for a business combination that would result in Bitcoin Depot becoming a public company listed on the Nasdaq under the ticker symbol “BTM.”


Chinese Autonomous Yacht Ride Rental Company Said to Mull $1 Billion US SPAC Deal

Zero Degree New Energy Technology (Guangdong) Co., Ltd., an autonomous yacht manufacturer and ride operator, is mulling going public through a merger with a SPAC.

The Company expects it will be listed on Nasdaq around the first quarter of 2024 at the earliest, with an estimated valuation of US$1 billion (equivalent to approximately 67 billion CNY).


Crypto Company Circle Focuses on Growth After Canceled SPAC Merger

Circle Internet Financial Ltd. wants to increase its workforce by as much as 25% this year, finance chief Jeremy Fox-Geen said, as the cryptocurrency operator pushes ahead with expansion despite its recently canceled deal to go public via Concord Acquisition Corp. and industry-wide layoffs.

Circle, which was founded in 2013, intends to make another bid to go public, though likely not this year, Mr. Fox-Geen said. It is waiting for better market conditions and more distance from the TerraUSD crash and the implosion of crypto exchange FTX so that public-market investors can re-evaluate the future of digital-assets businesses, he said.


Howard Marks Loads Up on SPACs in 4th Quarter

In the fourth quarter of 2022, Howard Marks, billionaire investor and the founder of Oaktree Capital Management, loaded up on ~11 SPACs, many of which were newly formed in 2022. Oaktree Capital purchased 400,000 shares of Hainan Manaslu Acquisition Corp, which traded at an average price of $10.07 per share during the quarter, which is close to the starting floor price of the SPAC model (which is $10 per share).

Another SPAC Oaktree purchased was TenX Keane Acquisition. This SPAC went public in October 2022 and raised ~$66 million. This SPAC aims to focus on target businesses in Asia, but excluding mainland China.

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by Marlena Haddad on 2023-03-29 at 5:48pm

Latest Non-Redemption Agreements: Home Plate Acquisition Corp. Home Plate (HPLT) Adds Non-Redemption Agreement On March 29, Home Plate Acquisition Corporation (NASDAQ:HPLT) and its sponsor entered into a non-redemption agreement with one or more unaffiliated third parties. The third parties agreed not to redeem an aggregate of 2,049,999 shares of Class A common stock at the company’s...

by Marlena Haddad on 2023-03-29 at 5:38pm

Latest SPAC Liquidations: Alpine Acquisition Corp. Alpine Acquisition Corp. (REVE) to Liquidate  Alpine (NYSE:REVE) announced this afternoon that it has decided to cancel its completion vote for its deal with Two Bit Circus and will instead liquidate its trust.    

by Marlena Haddad on 2023-03-29 at 5:32pm

Alpine Acquisition Corp. (NYSE:REVE) announced this afternoon that it has decided to cancel its completion vote tomorrow and will instead liquidate its trust. Within the last month, the SPAC adjourned its special meeting a total of four times as it faced difficulties trying to finalize items necessary in order to complete its proposed merger with Two Bit...

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