Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: India’s JetSynthesys in talks to merge with BurTech, Rumble partners with RSBN, and ProSomnus opens new global HQ
India’s JetSynthesys Is Said in Talks to Merge With BurTech SPAC
JetSynthesys, an Indian digital entertainment and technology company, is in talks to go public through a merger with blank-check firm BurTech Acquisition Corp. (NASDAQ:BRKH).
The two companies have signed a non-binding letter of intent regarding a transaction that values the combined entity at more than $700 million, said the people, who asked not to be identified discussing private talks. BurTech may seek an additional $120 million in new financing to support the deal.READ
Rumble Partners with RSBN for Exclusive Livestreams and Ad Management
Today, the video-sharing platform Rumble announced a exclusive partnership with Right Side Broadcasting Network (RSBN) to manage advertisements, including host-read “live” advertisements, for the network through the end of 2022. As part of the partnership, RSBN will stream the featured portions of its live political coverage exclusively on Rumble, including its coverage of rallies by 45th President Donald J. Trump.
The company announced in December 2021 the execution of a definitive business combination agreement with CF Acquisition Corp. VI (NASDAQ: CFVI).READ
ProSomnus to Open New Global Headquarters and Manufacturing Center of Excellence, Increasing Manufacturing Capacity and Efficiency
ProSomnus, a leader in patient-preferred medical devices for the treatment of Obstructive Sleep Apnea (OSA), today announced plans for a new 32,219-square-foot facility in Pleasanton, California, USA. The facility will serve as the company’s global headquarters and manufacturing center of excellence. The move will quintuple manufacturing capacity, enabling ProSomnus to meet the rapidly growing demand for the company’s FDA-cleared oral appliance therapy devices. ProSomnus expects to begin operations at the facility in January 2023.
In May 2022, ProSomnus entered a definitive merger agreement with Lakeshore Acquisition I Corp. (Nasdaq: LAAA), a special purpose acquisition company. Upon closing, the combined company is expected to change its name to ProSomnus, Inc. and its Class A common stock is expected to be traded on the Nasdaq Capital Market under the symbol “OSA”.READ
SPAC TechStar Acquisition Corp. Files for Hong Kong Listing
TechStar Acquisition Corporation, a SPAC initiated by CNCB Capital, Zero2IPO Group, Zero2IPO Capital, and individuals including Ni Zhengdong, Li Zhu and Liu Weijie, submitted a listing application to the main board of the Hong Kong Stock Exchange (HKEx) on June 24. Zero2IPO Capital and China Securities International are serving as co-sponsors.
Among the 13 SPACs that have filed A1 documents so far with the HKEx, TechStar has the largest number of sponsors by a significant margin.READ
Terms Tracker for the Week Ending September 22, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. SPACs finally saw two new S-1 filings this week, the first to file since August 24th. Hainan Sirius Acquisition Corp. filed first on Thursday and...
Latest SPAC Liquidations: LF Capital Acquisition Corp. II LF Capital Acquisition Corp. II (LFAC) to Liquidate on October 3, 2023 LF Capital Acquisition Corp. II (Nasdaq: LFAC), today announced that the directors of the Company have determined to dissolve and liquidate the Company. The redemption of the Public Shares is expected to be completed on...
Latest Non-Redemption Agreements: Yotta Acquisition Corp.,Live Oak Crestview Climate Acquisition Corp. Yotta Acquisition Corp. (YOTA) Adds Non-Redemption Agreements Yotta Acquisition Corp. (NASDAQ:YOTA) entered into non-redemption agreements with certain unaffiliated third parties in exchange for such third parties agreeing not to redeem an aggregate of 598,680 shares of the Company’s common stock. In exchange for the foregoing...
Twin Ridge (NYSE:TRCA) announced this afternoon that it plans to convene and then adjourn its extraordinary general meeting of its shareholders originally to be held on September 26 at 11:30 a.m., Eastern Time. Twin Ridge intends to hold the new meeting at 11:30 a.m., Eastern Time, on October 3, 2023. Additional details were not given as to...
Social Leverage Acquisition Corp I (Nasdaq: SLAC) and W3BCLOUD Holdings Inc. announced this afternoon that they have mutually agreed to terminate their business combination agreement. The reasons cited were once again “due to existing market conditions”, which most likely implies the current capital market conditions as well as the fact that W3BCLOUD works within the...