Swiftmerge Acquisition Corp. (NASDAQ:IVCP) announced this afternoon that it has signed a non-binding letter of intent to combine with commercial-stage biotech company HDL.
The parties’ press release did not include a proposed valuation for the deal, but Swiftmerge currently has about $228 million in trust and about two months left before its June 17 transaction deadline. The SPAC aims to advance the LOI to a definitive agreement later this quarter.
Like the target of today’s other SPAC transaction, HDL has developed and commercialized a medical device to treat sufferers of heart disease.
Its PDS-2 system has been approved to treat homozygous familial hypercholesterolemia, a disorder that renders the body less capable of removing harmful cholesterol and more susceptible to heart attacks at an early age.
The PDS-2 uses patients’ own plasma to create natural lipoproteins that can reduce plaque blockages and lower overall risk levels. HDL believes this same approach could be used to treat other disorders of the heart, kidneys, arteries and even neurodegenerative diseases like Alzheimer’s. But, such applications have not yet been approved, according to its website.
Swiftmerge will continue to engage in due diligence efforts as it works towards signing a definitive agreement, but the SPAC will remain in SPACInsider‘s “Searching” column until that time.
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...
This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...
At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...
At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...