News and Rumors
- PR: Medtech firm Agiliti (NYSE:AGTI) has agreed to be acquired by an affiliate of private equity firm Thomas H. Lee Partners (THL) at $10 per share and an enterprise value of $2.5 billion. This represents a 43% premium over the company’s 90-day VWAP and returns it to 100% ownership by THL five years after it combined with Federal Street at a $1.7 billion enterprise value.
- PR: Fintech AtlasClear (NYSE:ATCH) has completed the acquisition of Pacsquare Technologies, which will help it scale the group’s cloud customer engagement tools. AtlasClear closed a combination with Quantum FinTech on February 9.
- PR: Akili (NASDAQ:AKLI) has submitted its digital therapeutics SDT-001 for marketing approval in Japan, having received positive results in treating pediatric patients for ADHD in Phase III trials. Akili combined with Social Capital Suvretta I in August 2022.
- SpaceNews: Intuitive Machines (NASDAQ:LUNR) expects to communicate with its IM-1 Moon lander for just one more day as it appears to have tipped over and may not be able to regularly recharge itself via solar panels. The company made the historic first commercial soft landing on the moon last week, having combined with Inflection Point in February 2023.
Launch Two (NASDAQ:LPBBU) has filed for a $200 million IPO that shows how the market has shifted for new issuance since its sister SPAC Launch One (NASDAQ:LPAAU) filed just over a month ago. Both SPACs are underwritten by Cantor Fitzgerald and seeking nominally the same raise at IPO, but Launch Two is overfunding its trust...
FTAC Emerald (NASDAQ:EMLD) has entered into a definitive agreement to combine with crypto fintech firm Fold at an enterprise value of $381 million. Phoenix, Arizona-based Fold provides digital banking services backed by a treasury of Bitcoin that includes FDIC-secured checking accounts as well Bitcoin trading and awards. The combined company is expected to trade on...
At the SPAC of Dawn Dealmakers remain confident that AI is going to play a big role in their M&A processes, but feel unprepared for some the changes, according to a new survey of 225 corporate and 75 private equity transactions professionals. SS&C subsidiary Mergermarket generated the report that found more than half of respondents...
Trailblazer Merger I (NASDAQ:TBMC) has entered into a definitive agreement to combine with data intelligence firm Cyabra at an enterprise value of $70 million. Tel Aviv-based Cyabra provides tools to corporations and governments to identify fake accounts and combat social media disinformation. The combined company is expected to trade on the Nasdaq once the deal...
Chain Bridge I (NASDAQ:CBRG) has entered into a definitive agreement to combine with cannabinoid pharmaceuticals firm Phytanix Bio at a pre-deal valuation of $58 million. Santa Barbara, California-based Phytanix is working to develop bladder and seizure treatments using cannabis-based substances. The combined company is expected to trade on the Nasdaq under the symbol “PHYX” once...