Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: PlayUp pauses capital raise after business hit by regulator, Bridger Aerospace enters into definitive purchase agreement with Bighorn Airways, and True Velocity acquires Delta P
PlayUp pauses $10m capital raise after US business hit by regulator
PlayUp, the Australian fantasy sports betting outfit, has paused its $10 million capital raise until it can sell its business in the United States.
The decision to pause the capital raise comes after New Jersey’s gambling regulator, the Division of Gaming Enforcement, revoked PlayUp’s licence to provide betting services in the state.
PlayUp originally planned to merge with IG Acquisition Corp., but the business combination was terminated in January.READ
Bridger Aerospace Enters into Definitive Purchase Agreement with Bighorn Airways
Bridger Aerospace Group Holdings, Inc., (NASDAQ: BAER), one of the nation’s largest aerial firefighting companies, today announced that it has entered into a definitive purchase agreement with Bighorn Airways, Inc. (“Bighorn”), a specialty aviation company based in Sheridan, WY. Bridger will acquire Bighorn’s fleet of 12 aircraft used for wildfire smoke jumping as well as special mission transport and delivery for government customers. The transaction, valued at $39 million, is expected to close by the end of September 2023 and is subject to normal and customary closing conditions. The acquisition will be financed through a
True Velocity Acquires Suppressor Manufacturer Delta P Design
Texas-based ammunition manufacturer TV Ammo, Inc. (“True Velocity”) announced today it has acquired advanced suppressor technology company Delta P Design (“Delta P”).
The strategic acquisition, approved by the True Velocity Board of Directors earlier this month, further strengthens the company’s portfolio of American-made advanced, lightweight ammunition technology and next-generation weapon systems.
As previously announced on November 1, 2022, TV Ammo, Inc. entered into a business combination agreement with Breeze Holdings Acquisition Corp. (“Breeze Holdings”) (NASDAQ: BREZ).
At the SPAC of Dawn Filings after the bell yesterday provided another three-liquidation day for SPACs bringing this week’s tally to four and extending a streak of five straight weeks with four to five liquidations each week. With 178 SPACs having announced a liquidation so far in 2023, the year’s total number could well exceed...
Plum Acquisition Corp. I (NASDAQ:PLMI) has entered into a definitive agreement to combine with digital transformation company Veea for a total enterprise value of approximately $281 million. New York City-based Veea aims to simplify secure edge computing by improving application responsiveness, reducing bandwidth and data transport costs, and eliminating central cloud dependency. The parties expect the transaction to be...
L Catterton Asia (NASDAQ:LCAA) announced this morning that it has upsized the committed financing in its combination with EV sports car maker Lotus to $870 million in total. The latest fuel injection comes in the form of $750 million in convertible notes and PIPE commitments under so far undisclosed terms. Counted purely as a PIPE,...
At the SPAC of Dawn SPAC closing timelines can always be somewhat unpredictable, but PROOF I (NYSE:PACI) has the opportunity today to vie for a recent speed record today. It announced a combination with private aviation firm Volato 118 days ago on August 2 and its shareholders are set to vote to approve the combination...
Dune Acquisition Corporation (NASDAQ:DUNE) announced in an 8-K today that it has once again modified its agreement with sustainable energy firm Global Hydrogen. This amendment marks a reduction in Global Hydrogen’s equity value from $48 million to $43 million, alongside an increase in the available shares of common stock that is for the Global Gas Corporation...