Latest SPAC Liquidations: Build Acquisition, McLaren Technology, and Live Oak Mobility
Build Acquisition Corp. (BGSX) to Liquidate on March 17
Build Acquisition Corp. (NYSE:BGSX) today announced that it will redeem all of its outstanding common stock that was included in the units issued in its initial public offering, effective as of the close of business on March 17, 2023, as the company will not consummate an initial business combination on or prior to March 19, 2023.
The per-share redemption price for the public shares will be approximately $10.21.
READMcLaren Technology Acquisition Corp. (MLAI) to Liquidate on March 3
McLaren Technology Acquisition Corp. (NASDAQ: MLAI) announced today that it intends to dissolve and liquidate its trust, effective as of the close of business on March 3, 2023, and will redeem all of the outstanding shares of Class A common stock, at a per-share redemption price of approximately $10.39.
READLive Oak Mobility Acquisition Corp. (LOKM) to Liquidate
Live Oak Mobility Acquisition Corp. (NYSE: LOKM) announced today the cancellation of its special meeting of stockholders.
LOKM expects that it will redeem all of its outstanding shares of Class A common stock sold as part of the units in LOKM’s initial public offering because LOKM will not consummate an initial business combination. LOKM expects to announce additional information on such redemption in the coming days.
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Terms Tracker for the Week Ending March 31, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Filings continue to remain quiet, but SPACs did manage to price two more IPOs this week with TMT Acquisition Corp (Nasdaq: TMTCU) and Trailblazer Merger...
Hudson Acquisition I Corp. (NASDAQ:HUDA) announced that it has signed a non-binding letter of intent (LOI) to combine with a pre-clinical-stage biotechnology company. The SPAC did not provide many details on the unnamed target, but disclosed that the biotech company is focused on developing intranasal preventives for major disease-causing respiratory viruses. As a condition to the target...
Heading into April, SPACs are to see eight sponsors and 11 de-SPAC’d companies freed from lock-ups and ready to trade. Most of these lock-up expirations are loaded into the final week of the month, but those hitting this milestone already next week include some of the more interesting transactions of the crop. In particular, MoonLake...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Shares of Digital World jump after Trump’s indictment, and pair of Delaware Chancery court decisions deny motions to dismiss SPAC shareholder’s fiduciary breach claims Trump-Tied SPAC’s Shares Jump After Historic New York Charge The...
Ares Acquisition Corporation II (NYSE:AACT) filed its S-1 yesterday afternoon for a $400 million IPO, marking the second SPAC to file for an IPO in March and the largest since December 20, 2021, when Gores Holdings X Inc. filed for a $725 million SPAC. Ares II intends to focus its search on an established target...