Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Michael Andretti hunts for SPAC target beyond Formula One and Trinity Capital provides $25M growth capital to Cepton Technologies
Michael Andretti Hunts for SPAC Target Beyond World of Formula One
Michael Andretti speaks with Bloomberg on trying to find a target to merge with his SPAC Andretti Acquisition Corp. (NYSE:WNNR.UN) before the clock expires next year. The interview includes a Q&A with Andretti and his team, including the SPAC CEO Bill Sandbrook (former CEO of U.S. Concrete) and CFO Matt Brown on how the effort is going.
While McLaren Racing CEO Zak Brown sits on the SPAC’s board, Andretti’s ambitions to own an F1 team are separate and he wouldn’t use the SPAC to buy a team. Andretti recently filed an application to have a Formula One team starting in 2024.
READTrinity Capital Inc. Provides $25 Million Growth Capital to Cepton Technologies, Inc.
Trinity Capital Inc. (Nasdaq: TRIN), a leading specialty lending company that provides debt, including loans and equipment financing, to growth-stage companies backed by technology banks, venture capital, and private equity firms, is pleased to support Cepton’s growth with a $25 million facility.
The transaction was completed prior to Cepton Technologies’ closing of the merger with Growth Capital Acquisition Corp, now renamed to Cepton Inc. (Nasdaq: CPTN). $10 million was drawn under the facility and Cepton has the option to draw an additional $15 million at any time prior to July 1, 2022.
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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...