TWC Tech Holdings II Corp. announced the pricing of its $525 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “TWCTU” tomorrow, Friday, September 11th.
The company aims to combine with a high-growth technology company valued at between $1 billion and $10 billion. It will be led by CEO, President and Director Adam H. Clammer, Chairman James H. Greene, Jr. and CFO Rufina A. Adams.
Total SPAC deal count for 2020 year-to-date is now 93 with $36.994 billion in gross proceeds raised. The offering is anticipated to close on Tuesday, September 15, 2020.
Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. are acting as book-running managers; Academy Securities, Inc., Blaylock Van, LLC, Loop Capital Markets LLC, Roberts and Ryan Investments Inc., and Tigress Financial Partners LLC are acting as co-managers. Ellenoff, Grossman & Schole LLP and Davis Polk & Wardwell LLP were Issuer’s Counsel and Underwriter’s Counsel, respectively. WithumSmith+Brown, PC, acted as auditor. American Stock Transfer & Trust Company is acting as trustee.
Rice II (NYSE: RONI) announced in an 8-K today that its shareholders have approved its combination with energy technology company NET Power with relatively low redemptions. In the end, 21,195,224 shares were redeemed in connection vote, removing 61% of Rice II’s trust. This is the second best result among the 32 deals that have come...
Trajectory Alpha (NYSE:TCOA) announced in an 8-K this morning that it has opted to postpone its June 8 extension vote to June 12 at 10 am ET. The SPAC will use this extra time to engage with shareholders at work to reverse redemption decisions. Trajectory Alpha’s team may still be getting acquainted with some major...
Tracking SPACs and all of their various types of “corporate actions” can be challenging. After all, a SPAC can postpone, adjourn, extend, complete, liquidate early, do a tender offer, and in some cases, one SPAC do all of those actions within its lifespan. Naturally, this can be challenging to manage. More importantly, it can very...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Byju skips payment on dollar loan and HNR affirms intent to purchase equity interests of Pogo Resources High-Flying Indian Startup Byju’s Skips Payment on Dollar Loan One of India’s best-known startups has skipped payment...
Avalon Acquisition Inc. (NASDAQ:AVAC) announced in an 8-K this morning that it has entered into a prepaid forward purchase agreement with RiverNorth SPAC Arbitrage Fund, the purchaser, as it works to close its combination with financial services firm The Beneficient Company, or Ben. As part of the agreement, RiverNorth agreed to effect certain purchases of shares...