Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Voltus partners with Chesapeake Energy, South Korea’s SPAC IPOs eclipse company public listings, and HK Acquisition Corp. completes IPO as Hong Kong’s third SPAC
Voltus Partners with Chesapeake Energy Corporation to Deliver 10 MW of Fast-Response Grid Services to Oklahoma
Voltus, Inc., the leading distributed energy resource (DER) software platform, today announced it has partnered with Chesapeake Energy Corporation (NASDAQ: CHK) to enroll 10 megawatts (MW) in the Southwest Power Pool (SPP) Operating Reserves (OR) market. SPP OR is a fast-response, ancillary services market that pays businesses like Chesapeake to reduce electricity consumption in response to a market signal, driving down electricity costs for neighboring communities, and supporting the reliability of the electric grid.
On November 30, 2021, Broadscale Acquisition Corp. (“Broadscale”) (Nasdaq: SCLE) entered into a definitive agreement for a business combination with Voltus.READ
S. Korea’s SPAC IPOs eclipse company public listings
SPACs are gaining momentum in South Korea’s initial public market on the back of eased regulations and brokerage companies’ efforts to make up for reduced fee income from the otherwise sluggish IPO market.
A total of 20 SPACs were listed on the Korean bourse this year, according to the Korea Exchange on Wednesday. Their IPO sizes range from 20 billion to 100 billion won ($15 million-$76 million). Another 12 SPACs are in the pipeline of domestic IPOs. Six other SPACs have submitted IPO applications.READ
Blank-check firm of former HKMA chief Norman Chan completes $127 million IPO as Hong Kong’s third SPAC listing
HK Acquisition Corp, a blank-check company backed by the former head of Hong Kong’s de facto central bank, has its book fully covered for its HK$1 billion (US$127 million) IPO on Monday, according to people close to the transaction.
The SPAC formed by Norman Chan Tak-lam, the former chief executive of the Hong Kong Monetary Authority (HKMA), along with two family members of the city’s former chief executive Donald Tsang Yam-kuen, will issue 100 million shares at HK$10 each. Every two shares will entitle the holder to one warrant, exercisable at HK$11.50.
HK Acquisition Corp is the city’s third SPAC to complete an IPO under a relatively new listing regime that started in January
Terms Tracker for the Week Ending February 3, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. The month of February started with an IPO, thanks to the pricing of Cetus Capital Acquisition Corp (Nasdaq: CETU) which began trading on February 1....
Forest Road II (NYSE:FRXB) and 10X Capital Venture III (NYSE:VCXB) both announced this afternoon that they have mutually terminated their business combinations. Forest Road II intended to combine with transportation technology developer HyperloopTT, but the parties decided to nix the deal due to timing constraints along with unfavorable market conditions. Tom Staggs and Kevin Mayer, Co-CEOs and...
Intelligent Medicine Acquisition Corp. (NASDAQ:IQMD) and AMCI Acquisition Corp. II (Nasdaq: AMCI) announced this afternoon that they have adjourned their special meetings with shareholders. Intelligent Medicine originally scheduled its meeting to be held today, but is now postponing its vote until Wednesday, February 8. Stockholders may elect to redeem their shares by no later than...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Comcast dumps 18.5% of its BuzzFeed stock Comcast Dumps 6 Million Shares of Buzzfeed After Media Company Finally Gets a Bump Comcast dumped 18.5% of its BuzzFeed (NASDAQ:BZFD) stock in recent days, reducing its...
Viveon Health (NYSE:VHAQ) announced this morning that it is unilaterally terminating its combination with Suneva Medical “based upon material breaches” of the merger agreement. The SPAC did not elaborate further on its claims against Suneva, but noted it will continue on and seek a new business combination. Just last week, Viveon Health was working to...