Monterey Capital Acquisition Corp. (MCACU) Prices Downsized $80M IPO
by Marlena Haddad on 2022-05-10 at 6:13pm

Monterey Capital Acquisition Corp. priced its downsized $80 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “MCACU” Wednesday, May 11, 2022.

The new SPAC intends to combine with prospective targets focused on the clean transition economy with enterprise values of approximately $250 million to $1 billion. Monterey Capital is led by CEO and Chairman of the Board Bala Padmakumar, EVP Vivek Soni, and CFO Daniel Davis.

Total SPAC deal count for 2022 year-to-date is now 66. This offering is expected to close on Friday, May 13.


EF Hutton, a division of Benchmark Investments LLC, is acting as the sole book-running manager of the offering. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. is serving as Issuer’s Counsel with Seward & Kissel LLP serving as Underwriter’s Counsel. Marcum, LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.

Recent Posts
by Nicholas Alan Clayton on 2024-04-19 at 3:00pm

Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...

by Nicholas Alan Clayton on 2024-04-19 at 7:53am

At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...

by Nicholas Alan Clayton on 2024-04-18 at 11:50am

AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...

by Nicholas Alan Clayton on 2024-04-18 at 7:57am

At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...

by Nicholas Alan Clayton on 2024-04-17 at 3:05pm

Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved