Latest SPAC Liquidations: Velocity, Hennessy Capital V, Glass Houses, Figure I
Velocity Acquisition Corp. (VELO) to Liquidate on December 20
Velocity Acquisition Corp. (NASDAQ:VELO) will not consummate an initial business combination and intends to dissolve and liquidate effective as of the close of business on December 20, 2022. It will redeem all of the outstanding Class A shares at an anticipated per-share redemption price of approximately $10.00.
As of the close of business on December 20, 2022, the Public Shares will be deemed cancelled and will represent only the right to receive the redemption amount.READ
Hennessy Capital V (HCIC) to Liquidate on December 21
Hennessy Capital Investment Corp. V (NASDAQ:HCIC) has canceled its special meeting of stockholders that was previously scheduled for 3:00 PM Eastern time on December 21, 2022, and that, due to its inability to complete an initial business combination the Company intends to dissolve and liquidate, effective as of the close of business on December 21, 2022.
It will redeem all of the outstanding shares of Class A common stock that were included in the units issued in its initial public offering at a per-share redemption price of approximately $10.06READ
Glass Houses (GLHA) to Liquidate on December 22
Glass Houses Acquisition Corp. (NASDAQ:GLHA) announced in an 8-K that its shareholders had voted to liquidate the SPAC early with the redemption limits on individual holders eliminated.
As such, today was the last day of trading of the company’s public shares and units on Nasdaq. The Company is obligated to redeem all public shares as promptly as possible but not more than 10 business days after the early termination date. The Company expects to complete the redemption on or about December 22, 2022 with an estimated $10.10 per share in its trust.READ
Figure Acquisition Corp. I (FACA) to Liquidate on December 30
Figure Acquisition Corp. I (NYSE:FACA) today announced that its stockholders approved an amendment to its certificate of incorporation to permit the Company to wind up early. The Company has made this election and, as a result, it will redeem all of its outstanding shares and its warrants will expire worthless.
All other Class A stockholders will receive payment of the redemption price, net of taxes and dissolution expenses, on December 30, 2022. The per share redemption price is expected to be approximately $10.05.READ
AI Transportation Acquisition Corp. (NASDAQ:AITR) filed its S-1 last Wednesday afternoon for a $50 million IPO, marking the first SPAC to file for an IPO in March. While the new company may pursue a target in any industry, it intends to focus its search in the transportation field, including but not limited to logistics, new energy...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Virgin Orbit plans for insolvency amid rescue talks with investors, WeWork reaches deal to cut debt, and Pear Therapeutics explores “strategic alternatives” Virgin Orbit plans for insolvency amid rescue talks with investors Sky News...
Home Plate (NASDAQ:HPLT) has entered into a definitive agreement to combine with shipping company Heidmar at an anticipated enterprise value of $214.4 million, or 7.2x its 2023E EBITDA. Athens-based Heidmar operates an asset-light shipbroking network providing access to a pool of 60 fuel tanker and dry bulk ships. The combined company is expected to trade...
two (NYSE:PIAI) announced in an 8-K this morning that it has pushed back its special meeting one week from March 24 to 10 am ET, March 31. Shareholders at the meeting will consider a proposal to extend its transaction deadline from April 1 to January 1, 2024. The SPAC’s sponsor has not yet offered to...
Terms Tracker for the Week Ending March 17, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Despite this week’s headlines about bank failures, EF Hutton managed to file both a new S-1 registration statement and price an IPO. They should have...