Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Verde Clean Fuels announces agreement for renewable gasoline plant, Universal Entertainment accused of improper influence in Manila casino fight, and Integral 1 on the prowl again as $185M buyout falls over
Verde Clean Fuels Announces Carbon Capture Agreement for Renewable Gasoline Plant in California
Verde Clean Fuels (Nasdaq: VGAS), a company focused on becoming the leading supplier of gasoline and other fuels derived from renewable feedstocks or natural gas, today announced a Carbon Dioxide Management Agreement (CDMA) between Verde and Carbon TerraVault JV HoldCo, LLC (“CTV JV”), a carbon management partnership focused on carbon capture and sequestration development formed between Carbon TerraVault, a subsidiary of California Resources Corporation (“CRC”) (NYSE: CRC), and Brookfield Renewable (NYSE: BEP).
Verde Clean Fuels, previously known as Bluescape, closed its combination with CENAQ Energy in February.
Japan’s Universal Entertainment Accused of Improper Influence in Manila Casino Fight
Officials of a Japanese entertainment company in a merger fight over a Manila casino resort sought to improperly influence a prominent Filipino legislator to regain control of the property, a special purpose acquisition company suing Universal Entertainment Corp. alleged.
In a filing Monday in Delaware Chancery Court, the SPAC, 26 Capital Acquisition Corp. (NASDAQ:ADER), claimed that Universal executives brought “heavy luggage” to a meeting with Philippine House of Representatives Speaker Martin Romualdez to try to secure his support in the dispute. They have been trying to take back control of the 100-acre (40-hectare) Okada Manila resort and casino, valued at $2.6 billion.
Melbourne SPAC on the prowl again as $185m buyout deal falls over
Financial Review can report that Aaron Hornlimann’s deal to sell his startup Elenium Automation to a Nasdaq-listed SPAC for an eye-watering $185 million valuation has fallen through.
But, Integral Acquisition Corporation 1 (NASDAQ:INTE), has been reaching out to other Australian startups in the recent weeks as its talks with Elenium die out and the clock ticks on finding an acquisition target.
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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Conduit’s $1.2bn Nasdaq listing deals another blow to London A British biopharmaceuticals business has completed a deal to list on Nasdaq, delivering a further blow to the London Stock Exchange which has struggled to persuade fast-growing companies...
Mercato Partners (NASDAQ:MPRA) announced in an 8-K this morning that it has added an $11.1 million PIPE at $10 per share to its combination with Brazilian software firm Nuvini. The PIPE investors remain unnamed for now, but this move would cover the combination’s $10 million minimum cash condition. That eliminates some uncertainty as Mercato approaches...
Terms Tracker for the Week Ending September 22, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. SPACs finally saw two new S-1 filings this week, the first to file since August 24th. Hainan Sirius Acquisition Corp. filed first on Thursday and...
Latest SPAC Liquidations: LF Capital Acquisition Corp. II LF Capital Acquisition Corp. II (LFAC) to Liquidate on October 3, 2023 LF Capital Acquisition Corp. II (Nasdaq: LFAC), today announced that the directors of the Company have determined to dissolve and liquidate the Company. The redemption of the Public Shares is expected to be completed on...
Latest Non-Redemption Agreements: Yotta Acquisition Corp.,Live Oak Crestview Climate Acquisition Corp. Yotta Acquisition Corp. (YOTA) Adds Non-Redemption Agreements Yotta Acquisition Corp. (NASDAQ:YOTA) entered into non-redemption agreements with certain unaffiliated third parties in exchange for such third parties agreeing not to redeem an aggregate of 598,680 shares of the Company’s common stock. In exchange for the foregoing...