Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC Liquidations: NightDragon, VectoIQ II, and Fortistar Sustainable Solutions Corp.
Night Dragon Acquisition Corp. Will Redeem Its Public Shares and Will Not Consummate an Initial Business Combination
NightDragon Acquisition Corp. (NASDAQ: NDAC) anticipates that the last trading day of its public shares on Nasdaq will be December 2, 2022. The company will redeem all of the outstanding shares of Class A common stock for approximately $10.07 per share.
READVectoIQ Acquisition Corp. II Will Redeem Its Public Shares and Will Not Consummate an Initial Business Combination
VectoIQ Acquisition Corp. II (Nasdaq: VTIQU) announced that if stockholders approve an amendment to its trust agreement, it will redeem all of its outstanding shares of Class A common stock, effective as of December 12, 2022 because the company was unable to complete an initial business combination.
The special meeting is to be held on December 9, 2022.
The per-share redemption price for the public shares is expected to be approximately $10.07, assuming the stockholders approve the early termination proposals at the meetings.
READFortistar Sustainable Solutions Corp. to Liquidate Trust
At the special meeting of stockholders of Fortistar Sustainable Solutions Corp. (NASDAQ:FSSI), stockholders approved an amendment to allow the Company to redeem all of its outstanding shares of Class A common stock in advance of its contractual expiration date of January 29, 2023 by changing the termination date to December 2, 2022.
The company will be obligated to redeem all public shares as promptly as reasonably possible but not more than ten business days after the new termination date. Fortistar expects to complete the mandatory redemption on or around December 7, 2022 at a per-share redemption price of approximately $10.08.
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Terms Tracker for the Week Ending March 15, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Maybe it’s the weather, but there was a perceptible change this week in the air. That’s not to say that we should expect a big...
Deals and Amendments Keyarch (NASDAQ:KYCH) has tweaked the earnout provision of its combination with EV charging firm ZOOZ Power. Under the new terms, ZOOZ shareholders will still receive 1,000,000 shares if it achieves $10 million or more in gross revenue for any four quarters within five or if its shares hit a VWAP of $12....
In the current market conditions, SPACs looking for a target have to thread multiple needles at once. Many in the market now – particularly of the 2021 vintage – set out with teams experienced in high-growth technology sectors, but a risk-off market spooked by inflation has expressed itself in an appetite for more “sure things.”...
At the SPAC of Dawn Despite some Thursday ripples in the market on economic data readings, there appears to be growing consensus that the Fed won’t budge much over its initial plans for three rate cuts in 2024 and four more in 2025. But, other regulatory changes could have more direct impact on de-SPACs this...
News and Rumors PR: eVTOL maker Lilium (NASDAQ:LILM) has partnered with Atlantic Aviation to provide infrastructure support Lilium’s launch into Florida, California, Texas and Northeast US markets. The two will collaborate on the planning aspects of integrating Lilium aircraft and regional jet service operations into airports. Lilium combined with Qell in September 2021. PR: Construction...