SPACInsider Logo
Spartan Acquisition Corp. III (SPAQ) Shareholders Approve Allego Deal
by Marlena Haddad on 2022-03-08 at 2:15pm

Spartan Acquisition Corp. III (NYSE:SPAQ) announced this afternoon that its shareholders have voted to approve its combination with Dutch electric vehicle (EV) charging company Allego.

The press release did not disclose much information on redemptions, but SPAQ has been trading above its trust value of $10 since the redemption deadline March 4. The deal was supported by 94% of SPAQ’s shares at the special meeting.

Spartan III brought approximately $552 million into the deal from its current trust supplemented by a $150 million PIPE at $10 per share. The PIPE drew participation from institutional investors Hedosophia, ECP and Apollo Global Management – Spartan III’s sponsor. The PIPE also included a strategic investment by energy metering company Landis+Gyr (SIX:LANDI) as well as EV-maker and fellow Spartan SPAC target Fisker (NYSE:FSR).

The transaction is expected to close the week of March 14 and the combined company’s name will be Allego N.V. Its ordinary shares and warrants are expected to trade on the New York Stock Exchange under the ticker symbols “ALLG” and “ALLG.WS,” respectively.

The parties initially announced their $2.6 billion combination last year on July 28. Arnhem, Netherlands-based Allego operates about 26,000 EV charging stations, including ultra-fast charging rigs, across 12 European countries.

Three other proposals were considered and approved at today’s special meeting.


  • Credit Suisse is serving as sole financial advisor and capital markets advisor to Allego.
  • Weil, Gotshal & Manges LLP and NautaDutilh are serving as legal advisors to Allego.
  • Barclays is serving as sole financial advisor and capital markets advisor to Spartan.
  • Credit Suisse and Barclays are serving as co-lead placement agent on the PIPE offering.
  • Credit Suisse, Citi and Apollo Global Securities are serving as co-placement agents.
  • Vinson & Elkins L.L.P. is serving as legal advisor to Spartan.
  • Latham & Watkins LLP is serving as legal advisor to the placement agents
Recent Posts
by Marlena Haddad on 2022-12-01 at 11:25am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News:  NYSE president says IPO proceeds fall more than 90% while Nasdaq president remains hopeful for 2023, and Giuliani brothers sell pharma stocks as they invest in biotech SPACs NYSE president says IPO proceeds fall...

by Marlena Haddad on 2022-12-01 at 10:02am

InterPrivate II Acquisition Corp. (NYSE:IPVA) disclosed this morning that it has restructured its bonus share agreement in connection to its proposed merger with carsharing marketplace Getaround. The parties previously agreed to reserve and set aside the bonus shares, consisting of 9,333,333 shares, to be allocated to the non-redeeming public stockholders, the designees of EarlyBirdCapital and the...

by Nicholas Alan Clayton on 2022-12-01 at 9:31am

Iris Acquisition Corp. (NASDAQ:IRAA) has entered into a definitive agreement to combine with biotech firm Liminatus at an enterprise value of $334 million. La Palma, California-based Liminatus is a clinical-stage drug developer working on a range of cancer treatments utilizing both preventative vaccines and CAR-T therapies. The combined company is expected to trade on the...

by Marlena Haddad on 2022-12-01 at 9:22am

Lakeshore Acquisition Corp. I (NASDAQ:LAAA) announced this morning that it has entered into a non-redemption agreement and amended its purchaser support agreement with initial shareholders in connection to its proposed merger with medical device company ProSomnus. The SPAC entered into non-redemption agreements with certain institutional investors for an aggregate of 200,339 shares of the purchaser. These investors...

by Nicholas Alan Clayton on 2022-11-30 at 6:01pm

The companies and sponsors of six SPAC deals are set to see their lock-ups expire before the end of the year. This is a relatively small monthly total as the wave of deals from 2020 and 2021 are still hitting this milestone. The list nonetheless includes some major names starting with Forafric (NASDAQ:AFRI), which is...

Privacy Policy|Terms Of Use
Copyright © 2022 SPACInsider, Inc. All Rights Reserved