Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Tim Hortons China to Create Data Unit Amid Xi’s Crackdown
Xi’s Data Clampdown Spurs Novel Solution From Tim Hortons China
The company running the Chinese business of Canadian coffee shop chain Tim Hortons is proposing a novel solution to address Beijing’s data security concerns as it seeks to go public in the U.S. through a SPAC, according to Bloomberg.
Tim Hortons China said that as part of its merger with Silver Crest Acquisition Corp. (NASDAQ:SLCR) it will create an independent entity incorporated in China, which will have the “sole purpose” of safeguarding and protecting customer data.
Tim Hortons China will not own any equity in the entity, called NewCo in the filing, which will provide its services back to the parent at cost.
Terms Tracker for the Week Ending March 24, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. While this week was relatively quiet on the filings front, we did see March’s second SPAC IPO price with Oak Woods Acquisition Corp’s $50 million...
Latest Non-Redemption Agreements: ExcelFin Acquisition Corp. ExcelFin Acquisition Corp. (XFIN) Adds Non-Redemption Agreement In connection with the special meeting of stockholders of ExcelFin Acquisition Corp. (NASDAQ:XFIN) to extend its completion deadline from April 25, 2023 to October 25, 2023, the company and its sponsor, ExcelFin SPAC LLC, entered into a non-redemption agreement with an unaffiliated third party....
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Momentus SPAC backers accused of deliberately engineering a catastrophic deal Momentus SPAC Backers Accused of Hiding Disastrous Deal’s Flaws A Momentus Inc. (NASDAQ:MNTS) investor sued backers of its blank-check merger with a shell company,...
DiamondHead Holdings Corp. (NASDAQ:DHHC) announced in an 8-K this morning that its shareholders approved its combination with Great Southern Homes at a special meeting March 23. Only 109,426 shares were redeemed in the connection with the vote, but DiamondHead has seen about 87% redemptions in total across all previous votes, leaving it with about $43.9...
Graf Acquisition Corp. IV (NYSE:GFOR) announced that it has signed a non-binding letter of intent to combine with clinical-stage biopharma company NKGen. This announcement is not a pure teaser as Graf IV is not facing an imminent extension vote and currently has until May 25 on its clock. It does, however, signal something of a...