Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: EQT Private Equity completes acquisition of Billtrust, Truth Social introduces direct messaging to platform, and Florida Office of Insurance Regulation approves East Resources business combination with Abacus Life
EQT Private Equity completes acquisition of Billtrust in $1.7B deal
Global investment firm EQT Private Equity has completed its acquisition of B2B payments company Billtrust (NASDAQ:BTRS). The transaction was announced on September 28 and was approved by shareholders on December 13, 2022.
The all-cash transaction values Billtrust’s equity at about $1.7 billion and comes a year after the company began trading on Nasdaq. Under the terms, Billtrust shareholders will receive $9.50 per share in cash. With the completion of the acquisition, Billtrust has ceased trading and will no longer be listed on Nasdaq.
Billtrust combined with South Mountain Merger Corp. in January 2021.
READDirect Messaging Comes to Truth Social
Today, Trump Media & Technology Group (“TMTG”) announced that direct messaging (“DM”) is now available on the iOS, Android, and web versions of Truth Social. Users can now privately DM fellow users on a one-to-one basis with text-based messages containing up to 500 characters. Future updates will allow users to react to messages with emojis and exchange media attachments.
READFlorida Office of Insurance Regulation Approves East Resources Acquisition Company’s Business Combination with Abacus Life
Abacus Settlements, LLC and Longevity Market Assets, LLC, a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, announced today that the Florida Office of Insurance Regulation executed a consent order approving East Resources Acquisition Company’s (NASDAQ: ERES) business combination with Abacus.
READAmerican Acquisition Opportunity’s Merger Target, Royalty Management, Completes Investment into Heart Water Inc. and Partners on Royalty Financing Structure
American Acquisition Opportunity Inc.’s (Nasdaq:AMAO) merger target company, Royalty Management Corporation (RMC), a sustainably-driven, cash flow-oriented, royalty investment and development company, announced today that it has made an investment into Heart Water, Inc. and entered into an agreement whereby Royalty Management Corporation has the right to provide royalty based financing for the build out of Heart Water systems for a royalty-based payment structure per gallon of water sold from such facilities.
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At the SPAC of Dawn Tuesday brings another packed day in a packed week of potentially market-moving events and individual SPAC actions. The market today will take in the update on US consumer confidence readings as well as the employment cost index and Treasury’s decision on its quarterly refunding plans. An unusually large portion of...
Few target companies have gone through a greater amount of change through the course of their de-SPACing process than digital transformation firm Noventiq, which makes its latest update via a new investor presentation a particularly interesting read. When it initially announced its combination with Corner Growth (NASDAQ:COOL) in May 2023, Noventiq was still listed in...
At the SPAC of Dawn Several sleepy weeks in SPACland come to an end today with five votes, including BITE‘s (NYSE:BITE) completion vote for its combination with plant-based food producer Above Food. Similarly, CONX (NASDAQ:CONX) is to hold its tender offer to complete its acquisition of the DISH Wireless HQ. Two more SPACs are holding...
Terms Tracker for the Week Ending April 26, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As expected, it was a quiet week on the new issuance front thanks to Passover and school spring break. Other than 8-ks and some amendments...
AI has quietly been creeping to the top of the buzziest sectors for SPAC deals, but it’s become host to an even larger arms race in the private funding market. Elon Musk is currently pushing a $6 billion capital raise for his OpenAI competitor xAI at a valuation of $18 billion, according to TechCrunch, while...