Motion Acquisition Corp. announced the pricing of its $115 million IPO this morning and its units are expected to begin trading on the Nasdaq under the symbol “MOTNU” today, Thursday, October 15.
The new company aims to combine with a middle market company providing enterprise software solutions to clients in the transportation industry. Motion is led by Chairman James M. Travers, CEO and Director Michael Burdiek, CFO and Secretary Richard Vitelle, and EVP of Corporate Development Garo Sarkissian.
Total SPAC deal count for 2020 year-to-date is now 140 with $54.28 billion in gross proceeds raised. This offering is expected to close on Monday, October 19.
Barclays is acting as the sole book running manager for the offering. Graubard Miller is serving as Issuer’s Counsel with Greenberg Traurig PA serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.
Latest SPAC Liquidations: JAWS Hurricane JAWS Hurricane Acquisition Corporation (HCNE) to Liquidate on June 16 JAWS Hurricane Acquisition Corporation (Nasdaq: HCNE) today announced that its board of directors has determined not to proceed with a proposal to extend its corporate existence. As such, the Board has determined to cancel the special meeting of its stockholders,...
Jupiter Wellness Acquisition Corp. (NASDAQ:JWAC) announced this afternoon that it has completed its combination with Chinese carmaker Chijet. The deal was already approved by shareholders at a special meeting held on May 2, but at that time, the SPAC did not provide a timeline for the closing of the transaction. Although redemption numbers have still not...
The advent of summer is bringing nine lock-up expirations for de-SPAC’d companies and 10 on the sponsor side. The first change is to come for the sponsor of European Biotech Acquisition Corp., which closed its combination with Swiss pharma firm Oculis SA (NASDAQ:OCS) just three months ago. The sponsor is getting flexibility at a good...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Lucid to raise $3B in a common stock offering from Saudi owners, Betsy Cohen says SPACs will make a comeback, and SatixFy makes another leadership change Lucid Raising $3 Billion With More Money From...
An article on Bloomberg yesterday announced what many in SPAC Land have been wondering after UBS acquired Credit Suisse – where was Niron Stabinsky, the Head of SPACs at Credit Suisse, going to land? The answer is Banco Santander SA, in what appears to be a massive lift of most (or nearly all) of Credit...