Between the various recent cases in the Delaware courts, such as Boxed, which involved the different SPAC voting classes, or the Multiplan case, or Arrival, all of which are in addition to the 1% excise tax on share buybacks, there has been a noticeable trend of SPACs moving to off-shore domiciles.
We spoke with Derek Dostal, from the law firm of Davis Polk, and Christian Nagler, from Kirkland & Ellis, to help explain these trends in greater detail and how the pending SEC proposal could affect some of these considerations going forward.
Give it a listen.
Trailblazer Merger I (NASDAQ:TBMC) has entered into a definitive agreement to combine with data intelligence firm Cyabra at an enterprise value of $70 million. Tel Aviv-based Cyabra provides tools to corporations and governments to identify fake accounts and combat social media disinformation. The combined company is expected to trade on the Nasdaq once the deal...
Chain Bridge I (NASDAQ:CBRG) has entered into a definitive agreement to combine with cannabinoid pharmaceuticals firm Phytanix Bio at a pre-deal valuation of $58 million. Santa Barbara, California-based Phytanix is working to develop bladder and seizure treatments using cannabis-based substances. The combined company is expected to trade on the Nasdaq under the symbol “PHYX” once...
At the SPAC of Dawn A new ripple is expected to come to the market today in the form of Ethereum spot ETFs after the SEC gave final approval to several yesterday. BlackRock, Fidelity, Bitwise, Franklin, and VanEck all received approval for their new funds and all but BlackRock plan to waive fees until they...
Maquia Capital (NASDAQ:MAQC) has entered into a definitive agreement to combine with AI infrastructure firm Velocium at a valuation of $445 million. Miami-based Velocium is developing data center processors designed to be particularly efficient for use by AI applications and Web 3.0. The combined company is expected to trade on the Nasdaq under the symbol...
At the SPAC of Dawn The third week of July brings just three votes and only ARYA IV‘s (NASDAQ:ARYD) is to complete a transaction, but plenty more is turning in SPACland. For one, this week’s anticipated IPO for M3-Brigade V (NASDAQ:MBAV) now looks notably different with 1/2 warrants in its units and its trust overfunded...