News Alert: Spartan Energy Prices an Upsized $480 Million SPAC
by Kristi Marvin on 2018-08-10 at 8:05am

Spartan Energy Acquisition Corp. (SPAQ.U) to Begin Trading Today

Last night, Spartan Energy announced the pricing of their $480 million Apollo sponsored SPAC.  The unit will begin trading this morning under the symbol  SPAQ.U.

Actually, Spartan announced their pricing, not once, but twice.  In what looked to be a slight mix-up with press releases, Business Wire initially announced Spartan’s pricing at $400 million.  To say, that was a surprise would be an understatement with a deal this hot.  Luckily, about an hour later, a corrected press release was put out with a solid 20% increase to $480 million.

It’s August…weird things happen in August.

Congratulations to all and looking forward to the business combination!

Congratulations to the Underwriters – Citigroup and Credit Suisse as joint book-running managers, and Jefferies LLC, RBC Capital Markets, LLC and Tudor, Pickering, Holt & Co. Securities, Inc. as co-managers. Vinson & Elkins L.L.P. and Kirkland & Ellis LLP, were Issuer’s and Underwriter’s Counsel, respectively.

Recent Posts
by Marlena Haddad on 2023-11-29 at 5:07pm

CF Acquisition Corp. VIII (NASDAQ:CFFE) announced this afternoon that it has completed its combination with B2B software firm Exela. Although shareholders had previously approved the deal during a special meeting on August 24, no specific timeline for its next steps had been disclosed at that time. Additionally, a proposal was passed at the meeting to change...

by Nicholas Alan Clayton on 2023-11-29 at 11:13am

DUET Acquisition Corp. (NASDAQ:DUET) has signed a business combination agreement with social media firm Fenix 360 at an enterprise value of $610 million. Singapore-based Fenix 360 is developing an app-based social media platform designed for artists to better engage with fans and monetize interactions. The combined company is expected to trade on the Nasdaq once...

by Marlena Haddad on 2023-11-29 at 8:21am

PROOF Acquisition Corp I (NYSE: PACI) announced this morning that its shareholders have approved its business combination with private aviation company Volato at a special meeting held on November 28. Approximately 97% of the votes cast at the meeting were cast in favor of the approval of the deal. The SPAC did not disclose redemption...

by Nicholas Alan Clayton on 2023-11-29 at 7:54am

At the SPAC of Dawn Filings after the bell yesterday provided another three-liquidation day for SPACs bringing this week’s tally to four and extending a streak of five straight weeks with four to five liquidations each week. With 178 SPACs having announced a liquidation so far in 2023, the year’s total number could well exceed...

by Marlena Haddad on 2023-11-28 at 10:03am

Plum Acquisition Corp. I (NASDAQ:PLMI) has entered into a definitive agreement to combine with digital transformation company Veea for a total enterprise value of approximately $281 million. New York City-based Veea aims to simplify secure edge computing by improving application responsiveness, reducing bandwidth and data transport costs, and eliminating central cloud dependency. The parties expect the transaction to be...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved