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Posts by Nicholas Alan Clayton
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2022-11-25 at 2:31pm

PMV Consumer (OTC PINK:PMVC) announced that it is redeeming all non-insider public shares for approximately $10.09 per share, but it will not be dissolving just yet. The SPAC is set to provide written redemption notices to each shareholder and trust proceeds are to be distributed within 30 days of these notices. PMV Consumer will then...

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2022-11-25 at 7:31am

Digital World (NASDAQ:DWAC) announced late Wednesday that its shareholders have approved amending its charter to allow for automatic three-month extensions of its transaction deadline until September 8, 2023. This brings to close a long drama during which Digital World adjourned the vote without concluding business six times at different meetings in September, October and November....

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2022-11-23 at 8:41am

Metals Acquisition Corp. (NYSE:MTAL) announced that it has made a series of amendments to its combination the Glencore’s (LON:GLEN) CSA Copper Mine, shifting some portions of the compensation to contingencies based on commodity prices. The mine is now to be acquired with at least $775 million in cash, which may be expanded to $875 million...

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2022-11-23 at 7:12am

OceanTech I (NASDAQ:OTEC) has postponed an extension vote scheduled for later today after receiving high redemption notices. Shareholders requested to redeem a total of 9,449,599 shares, representing 91.5% of its shares outstanding. This exceeds the 8,880,360-share maximum threshold to effect an extension according to its proxy. As such, the company has postponed the vote to...

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2022-11-22 at 1:52pm

Western Acquisition Ventures Corp. (NASDAQ:WAVS) has entered into a definitive agreement to combine with cybersecurity firm Cycurion at an enterprise value of $170.4 million. The McLean, Virginia-based company provides cybersecurity services primarily to US government clients. The combined company is expected to trade on the Nasdaq once the deal is completed in the first quarter...

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2022-11-22 at 10:12am

Forest Road II (NYSE:FRXB) has entered into a definitive agreement to combine with transportation technology developer HyperloopTT at an enterprise value of $397 million. Los Angeles-based HyperloopTT is developing systems for fast travel between sites and cities with projects being explored on four continents. The combined company is expected to trade under the symbol “HYPE”...

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2022-11-22 at 8:15am

DHC Acquisition Corp (NASDAQ:DHCA) announced this morning that the leadership of its target company GloriFi have begun the process of winding down its operations. The filing did not specify whether DHC was terminating its combination agreement, but this will presumably be void once the company no longer exists. The two sides announced their $1.7 billion...

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2022-11-22 at 7:12am

Highland Transcend I (NASDAQ:HTPA) announced this morning that it will redeem all public shares effective December 8 as it will not complete a business combination. Shareholders are expected to receive a redemption rate of $10.06 per share and Highland Transcend I is to cease all operations other than its winding down efforts on December 7....

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2022-11-21 at 11:30am

Industrial Tech II (NASDAQ:ITAQ) has entered into a definitive agreement to combine with renewable energy producer NEXT Renewable Fuels, Inc. (“NEXT, “NXT” or the “Company”) at an enterprise value of $530 million, or 0.9x its 2025E EBITDA. Houston-based NEXT is developing plans to build a renewable aviation fuel refinery in Oregon that would supply clients...

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2022-11-18 at 1:43pm

Traders have long looked to SPACs for special plays around their votes as the post-vote period frequently involves some turnover in holdings that can be attractive to shorts, and redemptions can reduce the stocks to low-float situations prone to easy upward pressure. This week appears to have produced a handful of the latter situations, headlined...

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