Mudrick Acquisition Corp. II (NASDAQ:MUDS) has terminated its combination with collectible card-maker Topps after it announced it would not see a renewal of its foundational contract with Major League Baseball (MLB) for producing its signature cards. Topps had previously held a 70-year hold on the license for cards on individual MLB players that has been in place since 1952.
Mudrick II shareholders were set to vote on the deal on August 25th, with an August 23 redemption deadline, but in light of losing a crucial part of the Topps business, most likely redemptions would have been very heavy. Terminating the deal was the smart move. MUDS still has nearly 13 months left on its clock, an estimated $321 million cash held in trust, and will now be free to chase other opportunities.
Additionally, in the current regulatory environment, perhaps even with a backstop and PIPE covering a potential full redemption of the trust, “getting public” that way no longer passes muster. Regulators have been keeping a close eye on the SPAC asset class and, in the case of Stable Road, willing to levy fines and make examples.
Exciting new things are coming for SPACInsider subscribers, and some have already arrived! This summer, SPACInsider is unveiling the SPACInsider Alerts App on iOS with an Android launch soon to follow. The app allows subscribers to stay ahead of the SPAC market with real-time, customizable filing alerts with instant notifications landing the moment that a...
At the SPAC of Dawn Futures are largely green with the CPI reading coming up, and several SPACs and de-SPACs have cause to feel bullish regardless of what the reading states. Pharma and beauty company Longevity Health (NASDAQ:XAGE) announced it will acquire plasma collection firm True Health ahead of market open in news that has...
Silver Pegasus Acquisition Corp. (NASDAQ:SPEGU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SPEGU”, Tuesday, July 15, 2025. The new SPAC plans to search within the technology sector, with a focus on semiconductors and systems solutions. Silver Pegasus Acquisition Corp.’s management...
Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
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...