Pure Acquisition Corp. (PACQ), announced the results of its warrant tender this afternoon and as expected, a significant number of warrant holders opted to tender at this go-around. If you recall, Pure previously tendered its warrants twice before, both times for $1.00, same as for the current tender offer.
However, by way of background, Post-IPO, Pure had 20,700,000 public warrants outstanding. At their first tender offer, 248,000 warrants were tendered. Pure subsequently held a second tender offer in January, where 17,293,805 public warrants were validly tendered. That left 3,158,195 warrants outstanding out of the original 20,700,000.
At this most recent tender offer, 2,829,307 public warrants were validly tendered, leaving just 328,888 public warrants outstanding, or 1.6% of the original amont. A significant reduction in the warrant overhang.
Pure currently has until May 21, 2020 to close its combination with HighPeak Energy, an independent oil and natural gas company with assets located in the northeastern part of the Midland Basin. That’s roughly a month and a half away and the energy sector is currently in the middle of a very challenging environment. We’ll have to stay tuned and see what develops, but at least Pure now has a cleaner looking capital table.
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...
Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...
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...