The Latest News in SPACs
AHPA: Avista Healthcare Public Acquisition Corp.
Avista Healthcare filed a preliminary proxy tonight to extend their completion deadline by 120 days from October 14th to February 15th, 2019, via shareholder vote. As of August 15, 2018, there is approximately $315,299,762 held in trust and the estimated per share redemption price at that date would have been approximately $10.17. The record date and shareholder vote date have not yet been set.
OSPR: Osprey Energy Acquisition Corp.
Osprey Energy Acquisition Corp. announced on Monday that its stockholders have approved Osprey’s acquisition of the assets of Royal Resources L.P., an entity owned by funds managed by Blackstone Energy Partners and Blackstone Capital Partners.
Osprey expects the transactions to close in the coming days, subject to customary closing conditions, and the new company will be named, Falcon Minerals Corporation.
Additionally, Osprey announced that none of Osprey’s stockholders exercised their right to redeem in connection with the business combination.
JSYN: Jensyn Acquisition Corp.
Jensyn Acquisition Corp. announced that it has agreed to contribute to $.042 per month for a period of four months for each public share that is not converted into cash at Jensyn Acquisition’s special meeting of stockholders being held on August 29, 2018. The total contribution amount will be an additional $0.168 per share for the four month period ending January 3, 2019. This contribution will increase funds available in Jensyn Acquisition’s trust account for the conversion of shares from approximately $10.81 per share on August 29, 2018 to approximately $10.98 per share at January 3, 2019.
The purpose of the extension is to provide time for the Company to complete its previously announced business combination with Oneness Global, an e-commerce company based in China which does business under the name HEFA Global.
SCAC: Saban Capital Acquisition Corp.
Saban Capital Acquisition Corp. set a date for a shareholder vote to approve an extension of their completion deadline. The vote will take place on September 18th, and Saban will be asking shareholders to move the deadline date of September 21, 2018 to December 31, 2018 (or March 31, 2019 if they have executed a definitive agreement for an initial business combination by December 31, 2018).
Based upon the amount in the Trust Account as of June 30, 2018, which was $253,400,786, Saban anticipates that the per-share price at which public shares will be redeemed from cash held in the Trust Account will be approximately $10.13 at the time of the vote.
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC Liquidations: Sierra Lake, Z-Work, Lerer Hippeau, and Climate Real Impact Solutions II Sierra Lake Acquisition Corp. Shareholders Approve Liquidation Sierra Lake Acquisition Corp. (NASDAQ: SIER) announced today that due to its inability to...
Parsec Capital (NASDAQ:PCX) announced in an 8-K this morning that it has begun the process of liquidating its trust account, but the filing also curiously notes that the team is trying to carry on with its announced combination with Enteractive Media. The announcement matches what the SPAC said in its 10-Q filed November 18, that...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Palihapitiya blames Fed for crushing the blank-check bubble, and Hong Kong is set to regain top-three IPO ranking in 2022 SPAC king Chamath Palihapitiya says the Fed crushed the bubble in blank-check firms...
PHP Ventures Acquisition Corp. (NASDAQ: PPHP) has entered into a definitive agreement to combine with ConstrucTech company Modulex Modular Buildings Plc (“Modulex”) at a valuation of $600 million. UK-based Modulex manufactures 3D volumetric steel modular buildings and harnesses emerging technologies to meet housing and infrastructure needs. The combined company is expected to trade on the...
7GC & Co. (NASDAQ:VII) has entered into a definitive agreement to combine with video engagement platform Banzai at an enterprise value of $380 million, or 17.3x its revenue in the 12 months ending in September 2022. Bainbridge Island, Washington-based Banzai provides a suite of virtual event management and analytical tools through a software-as-a-surface (SaaS) model....