Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC Liquidations: Sierra Lake, Z-Work, Lerer Hippeau, and Climate Real Impact Solutions II
Sierra Lake Acquisition Corp. Shareholders Approve Liquidation
Sierra Lake Acquisition Corp. (NASDAQ: SIER) announced today that due to its inability to consummate an initial business combination, it will dissolve and liquidate, effective as of the close of business on December 8, 2022, and will redeem all of the outstanding shares of Class A common stock at a per-share redemption price of approximately $10.12.
READZ-Work Acquisition Corp. Shareholders Approve Liquidation
At the special meeting of stockholders of Z-Work (NASDAQ:ZWRK) held on December 8, 2022, stockholders approved an amendment to allow the company to redeem all of its outstanding shares of Class A common stock today instead of its contractual expiration date of February 2, 2023.
Z-Work expects to complete the mandatory redemption on or around December 9, 2022 at a per share redemption price of approximately $10.076.
READLerer Hippeau Acquisition Corp. Shareholders Approve Liquidation
On December 7, 2022, the stockholders of Lerer Hippeau Acquisition Corp. (NASDAQ:LHAA) to allow LHAA to unwind and redeem all of its outstanding public shares prior to December 30, 2022.
Following the amendment, the Board of Directors of the Company set December 14, 2022 as the amended termination date.
Holders of 22,147,102 public shares of Class A common stock exercised their right to redeem their shares for cash at a redemption price of approximately $10.09 per share, for an aggregate redemption amount of approximately $223,496,059.56. Following such redemptions, 119,083 public shares of Class A Common Stock remain outstanding.
READClimate Real Impact Solutions II Acquisition Corp. Shareholders Approve Liquidation
At the special meeting of stockholders of Climate Real Impact Solutions II Acquisition Corporation (NYSE:CLIM) held on December 8, 2022, stockholders approved an amendment to allow CLIM to redeem all of its outstanding shares of Class A common stock on December 8, 2022 instead of its original date of January 29, 2023.
The company expects to complete the mandatory redemption on or around December 9, 2022 at a per-share redemption price of approximately $10.04.
READ
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...