Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Michael Andretti hunts for SPAC target beyond Formula One and Trinity Capital provides $25M growth capital to Cepton Technologies
Michael Andretti Hunts for SPAC Target Beyond World of Formula One
Michael Andretti speaks with Bloomberg on trying to find a target to merge with his SPAC Andretti Acquisition Corp. (NYSE:WNNR.UN) before the clock expires next year. The interview includes a Q&A with Andretti and his team, including the SPAC CEO Bill Sandbrook (former CEO of U.S. Concrete) and CFO Matt Brown on how the effort is going.
While McLaren Racing CEO Zak Brown sits on the SPAC’s board, Andretti’s ambitions to own an F1 team are separate and he wouldn’t use the SPAC to buy a team. Andretti recently filed an application to have a Formula One team starting in 2024.
READTrinity Capital Inc. Provides $25 Million Growth Capital to Cepton Technologies, Inc.
Trinity Capital Inc. (Nasdaq: TRIN), a leading specialty lending company that provides debt, including loans and equipment financing, to growth-stage companies backed by technology banks, venture capital, and private equity firms, is pleased to support Cepton’s growth with a $25 million facility.
The transaction was completed prior to Cepton Technologies’ closing of the merger with Growth Capital Acquisition Corp, now renamed to Cepton Inc. (Nasdaq: CPTN). $10 million was drawn under the facility and Cepton has the option to draw an additional $15 million at any time prior to July 1, 2022.
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Blue Ocean (NASDAQ:BOCN) has entered into a definitive agreement to combine with digital media company TNL Mediagene at a pre-money enterprise value of $275 million. TNL Mediagene holds the Japanese licenses for a number digital media properties as well as Taipei-based The News Lens. The combined company Is expected to trade on the Nasdaq once...
Priveterra Acquisition Corp. (NASDAQ:PMGM) announced in an 8-K this morning that it plans to adjourn its special meeting to approve its combination with AEON Biopharma from noon today to the same time June 9. The SPAC plans to use this time to further engage with its shareholders as the ballot includes a variety of additional...
Latest Non-Redemption Agreements: EVe Mobility EVe Mobility Acquisition Corp. (EVE) Adds Non-Redemption Agreement On June 5, 2023, EVe Mobility Acquisition Corp. (NYSE:EVE) and the Sponsor entered into non-redemption agreements with unaffiliated third party investors, pursuant to which the Investors have, in connection with the Extension Meeting, agreed not to redeem, or to reverse and revoke any prior...
Latest SPAC Liquidations: ST Energy Transition I, MELI Kaszek Pioneer Corp. ST Energy Transition I Ltd. (STET) to Liquidate on June 7 ST Energy Transition I Ltd. (NYSE:STET) announced today that the Board of Directors has elected to dissolve and liquidate the company. Net of taxes and dissolution expenses, the per-share redemption price for the...
Worldwide Webb Acquisition Corp. (NASDAQ: WWAC) announced this afternoon that it has secured a $5 million PIPE for its proposed merger with consultancy firm Aeries Technology. While most PIPEs are priced at $10 per share, Worldwide Webb’s $5 million subscription agreement was executed at just $4.48 per share in a private placement to be completed concurrently...