Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Bitcoin Depot announces acquisition of majority interest in Bitaccess, Lockheed Martin increases its bet on Terran Orbital with $100M investment, and ProSomnus announces FDA clearance
Bitcoin Depot Announces Acquisition of Majority Interest in Bitaccess, a Leading Bitcoin ATM Software Provider
Lux Vending, LLC dba Bitcoin Depot, a U.S.-based Bitcoin ATM (“BTM”) operator and leading fintech company, today announced the previously-consummated acquisition of a majority of equity interests in Bitaccess Inc. (“Bitaccess”), a leading BTM operating system provider.
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.”READ
Lockheed Martin increases its bet on satellite manufacturer Terran Orbital with $100 million investment
Aerospace giant Lockheed Martin is deepening its investment in satellite manufacturer Terran Orbital (NYSE:LLAP) with a $100 million investment and a cooperation agreement for the development and sale of smallsats through 2035.
Terran also announced that it will now build its massive, $300 million space vehicle manufacturing facility in Irvine, California, not Florida as originally planned. CEO Marc Bell told press that the company decided to move the facility to California, where Terran Orbital already has a substantial footprint, because it could move into the facilities faster than in Florida. It’s a big loss for Space Florida, the state’s economic development agency focused on aerospace, which was going to provide the conduit financing for the facility.
Terran Orbital completed its merger with Tailwind Two in March 2022.READ
ProSomnus Announces FDA 510 (k) Clearance for ProSomnus EVO [PH] Sleep and Snore Device
ProSomnus (“the Company”), a pioneer in precision medical devices for the treatment of Obstructive Sleep Apnea (OSA), today announced that it has received 510(k) clearance from the United States Food and Drug Administration (FDA) for the ProSomnus EVO™ [PH] Sleep and Snore Device. The device joins the Company’s flagship product, the ProSomnus EVO™, in its line of FDA-cleared, patient-preferred, less invasive Precision Oral Appliance Therapy (OAT) devices for the treatment of OSA.
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
Parsec Capital (NASDAQ:PCX) announced in an 8-K this morning that it has begun the process of liquidating its trust account, but the filing also curiously notes that the team is trying to carry on with its announced combination with Enteractive Media. The announcement matches what the SPAC said in its 10-Q filed November 18, that...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Palihapitiya blames Fed for crushing the blank-check bubble, and Hong Kong is set to regain top-three IPO ranking in 2022 SPAC king Chamath Palihapitiya says the Fed crushed the bubble in blank-check firms...
PHP Ventures Acquisition Corp. (NASDAQ: PPHP) has entered into a definitive agreement to combine with ConstrucTech company Modulex Modular Buildings Plc (“Modulex”) at a valuation of $600 million. UK-based Modulex manufactures 3D volumetric steel modular buildings and harnesses emerging technologies to meet housing and infrastructure needs. The combined company is expected to trade on the...
7GC & Co. (NASDAQ:VII) has entered into a definitive agreement to combine with video engagement platform Banzai at an enterprise value of $380 million, or 17.3x its revenue in the 12 months ending in September 2022. Bainbridge Island, Washington-based Banzai provides a suite of virtual event management and analytical tools through a software-as-a-surface (SaaS) model....
AlphaTime Acquisition Corp. (NASDAQ:ATMC) filed its S-1 yesterday morning for a $60 million IPO as the second SPAC to file for an IPO in December thus far. The new SPAC has set its sights on businesses in Asia that have the potential to generate strong, stable, and increasing free cash flow, particularly businesses with predictable revenue streams...