Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Britishvolt considers London listing, Eli, Peyton Manning-backed BBQGuys in talks with Velocity, and Hong Kong’s Prenetics plans $1.3 billion SPAC merger
U.K. Electric-Car Battery Startup Now Considering London Listing
Britishvolt Ltd., which is about to start building the U.K.’s first giant battery factory, is considering listing on the London Stock Exchange to help finance the 2.6 billion-pound ($3.6 billion) project that could play a major role in helping the nation reduce carbon emissions from transportation, according to Bloomberg.
A decision on whether to list in London or New York will be made within three months, Orral Nadjari, founder and CEO of Britishvolt, said in an interview. The company was due to decide by the end of June whether to list in the U.S. through a merger with a SPAC, but it’s chosen to extend the deadline.
READEli, Peyton Manning-Backed BBQGuys in Talks With Velocity
Online grill retailer BBQGuys is in talks to go public through a merger with Velocity Acquisition Corp., according to Bloomberg.
The combined company is set to be valued at around $900 million, including debt. Unlike some other recent SPAC transactions, there will be no PIPE raised to support the deal.
READHong Kong Biotech Start-Up Prenetics Plans $1.3 Billion SPAC Merger
Hong Kong biotech company Prenetics is set to merge with Artisan Acquisition in a deal that will value the new entity at $1.3 billion or more, according to CNBC.
The transaction is expected to close by the end of this year. The SPAC is already traded on the Nasdaq under the ticker ARTAU.
READBeware of SPAC Listings, EU Market Watchdog Tells Investors
The European Securities and Markets Authority (ESMA) said that SPACs “may not be appropriate for all investors” due to risks from dilution, conflicts of interests and uncertainty as to the identification and evaluation of the target company.
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Terms Tracker for the Week Ending June 2, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As is typical of slow holiday weeks, this past week for SPACs was no exception. To wit, there were zero new S-1s filed, zero amendments...
Trajectory Alpha Acquisition Corp. (NYSE:TCOA) announced this afternoon that it has entered into a purchase and contribution agreement with its sponsor and J. Streicher Holdings, LLC. As a result, the SPAC will undergo a change in management. As part of the agreement, J. Streicher will pay $250,000 to Trajectory Alpha and $1.00 to the sponsor. In return,...
Latest SPAC Liquidations: Sound Point I, Bullpen Parlay, and Zimmer Energy Transition Sound Point Acquisition Corp I (SPCM) to Liquidate on June 4 Sound Point Acquisition Corp I, Ltd (NASDAQ: SPCM) announced today that it intends to liquidate and dissolve, effective as of June 4, 2023, and will redeem all of the outstanding Class A...
Latest Non-Redemption Agreements: GSR II Meteora Acquisition Corp. GSR II Meteora Acquisition Corporation (GSRM) Adds Non-Redemption Agreement On May 31, 2023, GSR II Meteora Acquisition Corp., (NASDAQ:GSRM), entered into certain non-redemption agreements with certain third parties in connection with the special meeting of stockholders. Pursuant to such Non-Redemption Agreements, each Non-Redeeming Stockholder agreed that it will...
Athena Technology Acquisition Corp. II (NYSE:ATEK) announced this afternoon that it is postponing its extension vote scheduled for June 12 until June 13. Shareholders at the special meeting are to vote on a proposal to allow Athena Technology II to extend its transaction deadline on a monthly basis up to nine times from June 14,...