Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SEC publishes rulemaking agenda, American Battery Materials expands board and strategic relationships, and Tomorrow.io raises $87M in Series E round
SEC Spring Rulemaking Agenda Published
A number of final rules are slated for October 2023, including the following:
- Climate change disclosure rules
- Cybersecurity risk governance rules
- SPAC rules
- Amendments to 13D/G
The Commission proposed rules and rule amendments intended to enhance investor protections in IPOs by SPACs and in subsequent business combination transactions between SPACs and private operating companies. Specifically, the Commission proposed specialized disclosure requirements with respect to, among other things, compensation paid to sponsors, conflicts of interest, dilution, and the fairness of these business combination transactions.READ
Seaport Global Acquisition II : American Battery Materials, Inc. Expands Board and Strategic Relationships to Accelerate Lithium Extraction Development
American Battery Materials (OTC Pink: BLTH), an environmentally responsible minerals exploration and development company focused on direct lithium extraction (DLE) and other critical minerals for the global energy transition, today announced the appointment of a new director and engagement of new team members critical to the acceleration of the Company’s development of its lithium extraction plans.
ABM has also engaged advisory firms Buenos Aires Capital Partners, and iRadia Capital to explore acquisition and joint venture opportunities to diversify its lithium platform into Latin America with a focus on Argentina.
On June 2, 2023, ABM and Seaport Global Acquisition II Corp. (NASDAQ: SGII) (“SGII”) has previously announced the signing of a definitive merger agreement for a business combination.READ
Tomorrow.io Raises $87M in Series E Round
Tomorrow.io announced an $87 million Series E funding round, along with the successful launch of its second satellite on this week’s SpaceX rideshare mission. Activate Capital led the round for the weather intelligence startup, and new investors include RTX Ventures, Seraphim, and Chemonics.
Existing investors SquarePeg Capital, Canaan, ClearVision, JetBlue Ventures, and Pitango participated as well.
The company initially planned on combining with Pine Technology Acquisition Corp., but later paid to end the deal, citing the poor performance of stocks for other growth-stage companies.READ
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Shell company Vertex Tech to buy streaming platform in landmark deal for Singapore Singapore’s Vertex Technology Acquisition Corp (VTAC) (VERT.SI) will buy live streaming platform 17LIVE Inc for up to S$925.1 million ($676 million), the special purpose...
Graf Acquisition Corp. IV (NYSE:GFOR) has closed its combination with NKGen Biotech and its shares and warrants will begin trading on the Nasdaq under the symbols “NKGN” and “NKGNW” today. The SPAC secured shareholder approval for the deal last week with 84.3% redemptions. Graf IV CEO James Graf is set to join the combined company...
An In-Depth Look at SPAC Activity Throughout the Third Quarter of 2023 Below is a summary of the year-to-date SPAC performance. We’re now three-quarters of the way through 2023 and while activity remains muted, there is a sense that SPACs have run the most difficult part of the “correction” gauntlet and have reached a better...
Terms Tracker for the Week Ending September 29, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As September comes to a close, SPACs did not price any IPOs during the month with the most recent IPO (99 Acquisition Group) having priced...
Athena Consumer Acquisition Corp. (NYSE:ACAQ) announced this afternoon that its stockholders approved its combination with German EV-maker e.GO at a special meeting held earlier today. Additionally, Athena Consumer’s warrant proposal to convert all outstanding warrants to 0.175 shares in the combined company was also approved. A total of 884,880 shares of Athena Class A Common...