Morning Roundup: November 20, 2023
by Nicholas Alan Clayton on 2023-11-20 at 7:41am

At the SPAC of Dawn

Public companies of all stripes tend to bury news ahead of holidays and SPACs are no different.

Four SPACs have announced their intent to liquidate since market close on Friday and three of these had previously agreed to business combinations. The last cluster of broken deals and liquidated SPACs this dense similarly landed on a festive occasion during Halloween.

One hundred eighty more SPACs that have either announced a combination or are still searching have a month or less left on their initial deadlines. Most of these can either auto-extend or have votes already on the calendar, but this week could see still more news of things coming to an end with SPAC teams as much of the country is passing the casserole.

News and Rumors

  • Bloomberg: Tim Hortons (NASDAQ:THCH), which completed its combination with Silver Crest (NASDAQ:SLCR) in 2022, opened its first outlet in Singapore Friday as the iconic Canadian chain joins a host of coffee brands expanding in the wealthy city-state.
  • PR Newswire: ScanTech Identification Beam Systems, which announced its combination with Mars (NASDAQ:MARX) in September, has entered into a definitive contract with Visiontec Systems to provide CT screening systems to one of the largest, most diverse power producers in North America.
  • Verge: Sam Altman, who serves as CEO of the SPAC AltC and chairman of nuclear power firm Oklo, which are merging with each other, was abruptly fired Friday from another executive post as CEO of OpenAI.
  • BBC: Moving quickly, Microsoft (NASDAQ:MSFT) snapped up Altman, announcing that he will lead the company’s new advanced AI research team.


  • World View and Leo Holdings Corp. II (NYSE: LHC) intend to mutually agree to terminate their previously announced business combination agreement. As a result, Leo intends to liquidate and will redeem all of the outstanding Class A Ordinary Shares on or about December 4 for $10.95 per share.
  • Fat Projects Acquisition Corp (NASDAQ: FATP) has terminated its combination with Avanseus Holdings and will liquidate. As of the close of business on November 15, the shares will be deemed cancelled and will represent only the right to receive the redemption amount of approximately $10.96.
  • Churchill Capital Corp VI (NYSE: CCVI) has determined to liquidate and redeem all of its outstanding shares of Class A common stock for $10.49. The last day that the company’s securities will trade on the NYSE will be December 1.
  • Healthwell Acquisition Corp. I (NASDAQ:HWEL) has canceled its December 4 extension vote and will liquidate at about $10.50 per share. Earlier this month, Healthwell I terminated its combination with Starton Therapeutics.


Recent Posts
by Kristi Marvin on 2023-12-02 at 11:45am

Terms Tracker for the Week Ending December 1, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. For the most part, this was a quiet week for filings being that it followed the Thanksgiving holiday. Ideally, bankers, lawyers and teams got a...

by Marlena Haddad on 2023-12-01 at 5:39pm

Aimei Health Technology Co., Ltd (NASDAQ: AFJKU) announced the pricing of its $60 million IPO this evening. Its units are expected to begin trading on the Nasdaq under the symbol “AFJKU” on Monday, December 4, 2023. After the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to...

by Marlena Haddad on 2023-12-01 at 4:43pm

PROOF Acquisition Corp I (NYSE: PACI) announced this afternoon that it has closed its business combination with private aviation company Volato after shareholders approved the deal at a meeting on November 28. In total, including previous shareholder votes, shareholders opted to redeem an aggregate of 99.93% of PACI’s trust, leaving it with less than $215,000...

by Marlena Haddad on 2023-12-01 at 9:34am

Adit EdTech (NYSE: ADEX) announced this morning that its shareholders have approved its business combination with bitcoin self-mining company Griid Infrastructure at a special meeting held yesterday, November 30. A total of 8,520,710 shares of common stock, representing approximately 95.7% of the outstanding shares entitled to vote, were present at the meeting, constituting a quorum...

by Nicholas Alan Clayton on 2023-12-01 at 7:49am

At the SPAC of Dawn There had been hopes that this week would take one world conflict off the board, but combat has resumed in the Middle East as other eyes are likely to be fixed on new Fed comments today. The fighting in Gaza continues to not appear to have appreciable affects on the...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved