Redwoods Acquisition Corp. priced its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RWODU” Thursday, March 31.
The new SPAC intends to focus on the carbon neutral and energy storage industries with an enterprise value of approximately $250 million to $1 billion. Redwoods is led by CEO Jiande Chen and CFO Edward Cong Wang.
Total SPAC deal count for 2022 year-to-date is now 54. This offering is expected to close on Monday, April 4.
Chardan, the representative of the underwriters, is acting as sole book-running manager of the offering. Loeb & Loeb LLP is serving as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. Friedman LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the...
EF Hutton Acquisition Corp. I (NASDAQ:EFHT) announced this morning that its shareholders have approved its business combination with E.C.D. Auto Design. At the meeting, there were 5,089,203 shares of common stock, representing approximately 76.82% of the issued and outstanding shares of common stock, present. In connection with the meeting, the company’s stockholders holding 3,470,945 shares,...
Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...
At the SPAC of Dawn This week ends with an unusually busy earnings calendar as 172 US-listed companies report quarterly figures today. Among them is Exela Technologies (NASDSAQ:XELA), which completed a combination with Quinpario 2 in 2017. The billing software company has gone on to do another SPAC deal on November 29, this time spinning...
FG Merger III Corp. filed for a $150 million IPO yesterday afternoon, marking the third SPAC to file on Wednesday. Similar to Blue Room (NASDAQ:IBLUU), which filed its $200 million IPO yesterday morning, FG Merger III intends to focus its search for a target business in the financial services industry in North America. Notably, FG...