Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Moelis SPAC holders advised by ISS to vote down Archer deal, Compass Digital is said to plan $200 million IPO, and Singapore Exchange to roll out new rules for SPACs
Moelis SPAC Holders Advised by ISS to Vote Down Archer Deal
Investors in Ken Moelis’s Atlas Crest Investment Corp. (NYSE:ACIC) should vote against a merger with a Archer Aviation Inc. and instead redeem their holdings in the blank-check company for cash, an influential shareholder adviser said in a report.
The proposed merger with Archer, a developer of vertical take-off and landing electric aircraft that is mired in a legal battle over trade secrets, poses risk without the prospect of material gains for Atlas investors, Institutional Shareholder Services Inc. said in its report.
The combined company will be valued at about $1.7 billion, a reduction of $1 billion from its enterprise value when the deal was announced in February, ISS said.READ
Vikram Pandit-Advised SPAC Is Said to Plan $200 Million IPO
Former Citigroup Inc. Chief Executive Officer Vikram Pandit, who led the U.S. lender from 2007 through 2012, has joined Compass Digital Acquisition Corp. as a senior adviser, according to Bloomberg.
The vehicle is seeking to raise $200 million, and will focus on striking a deal with a company that operates in artificial intelligence, analytics, cloud enablement, cybersecurity, blockchain, health-care transformation and software-as-a-service, among other sectors.
Singapore Exchange to Roll Out Easier Rules For SPAC Listings
Singapore Exchange is in advanced stages on unveiling new guidelines that will make it easier for SPACs to list in the city-state after receiving market feedback that some proposals were too strict, four sources familiar with the matter told Reuters on Wednesday.
Singapore Exchange’s SGXL.SI regulatory arm is considering easing a minimum S$300 million ($223.2 million) market value proposal for SPACs and a proposal that warrants cannot be detached from underlying shares.READ
BlackSky Secures Investment from Palantir and Enters into Multi-Year Strategic Partnership Following Successful Pilot Project
BlackSky Holdings, Inc., a leading technology platform providing real-time geospatial intelligence and global monitoring, announced today that Palantir Technologies Inc. (NYSE: PLTR) has committed to making an equity investment in BlackSky, which is scheduled to close after the completion of BlackSky’s business combination with Osprey Technology Acquisition Corp.
Following the successful completion of a joint pilot program between BlackSky and Palantir, this investment signifies the strengthening of a strategic collaboration that will enable BlackSky to further extend its capabilities and meet the increasing demand for global monitoring services from its and Palantir’s customers.READ
Sarcos Defense Announces U.S. Government Orders of Guardian HLS Heavy-Lift System
Sarcos Defense, a wholly-owned subsidiary of Sarcos Robotics, a leader in the development of robots that augment humans to enhance productivity and safety, today announced that several U.S. government agencies have purchased the Guardian® HLS Heavy-Lift System.
The Guardian HLS system, designed in collaboration with the Air Force Research Laboratory (AFRL), is a first-of-its-kind, easily packable, pneumatic heavy-lift system designed to quickly and efficiently lift objects weighing up to 45,000 pounds for asset recovery and emergency response missions in the field.
On April 6, Sarcos announced that it will become publicly listed through a merger with Rotor Acquisition Corp. (NYSE: ROT).READ
Priveterra Acquisition Corp. (NASDAQ:PMGM) announced in an 8-K this morning that it plans to adjourn its special meeting to approve its combination with AEON Biopharma from noon today to the same time June 9. The SPAC plans to use this time to further engage with its shareholders as the ballot includes a variety of additional...
Latest Non-Redemption Agreements: EVe Mobility EVe Mobility Acquisition Corp. (EVE) Adds Non-Redemption Agreement On June 5, 2023, EVe Mobility Acquisition Corp. (NYSE:EVE) and the Sponsor entered into non-redemption agreements with unaffiliated third party investors, pursuant to which the Investors have, in connection with the Extension Meeting, agreed not to redeem, or to reverse and revoke any prior...
Latest SPAC Liquidations: ST Energy Transition I, MELI Kaszek Pioneer Corp. ST Energy Transition I Ltd. (STET) to Liquidate on June 7 ST Energy Transition I Ltd. (NYSE:STET) announced today that the Board of Directors has elected to dissolve and liquidate the company. Net of taxes and dissolution expenses, the per-share redemption price for the...
Worldwide Webb Acquisition Corp. (NASDAQ: WWAC) announced this afternoon that it has secured a $5 million PIPE for its proposed merger with consultancy firm Aeries Technology. While most PIPEs are priced at $10 per share, Worldwide Webb’s $5 million subscription agreement was executed at just $4.48 per share in a private placement to be completed concurrently...
Metals Acquisition Corp. (NYSE: MTAL) announced this afternoon that its shareholders have approved its acquisition and business combination with the CSA Copper Mine from Glencore (LON:GLEN) at a special meeting held earlier today. The business combination and merger were overwhelmingly approved as both proposals received 27,538,130 shares in favor of it and just 455,506 shares against it. In...