Regalwood Global Energy Ltd. (RWGE), announced this afternoon that it will be redeeming all of its outstanding Class A ordinary shares, effective as of December 16, 2019. Net of taxes and dissolution expenses, the per-share redemption price for the public shares is expected to be approximately $10.37.
The Company anticipates that the Class A Shares will cease trading as of the open of business on December 16, 2019, and the Class A Shares will be deemed cancelled and will represent only the right to receive the Redemption Amount.
Regalwood, which raised $300 million at their IPO on November 30, 2017, is the fourth SPAC to liquidate this year and the third energy-focused SPAC to do so, following Vantage Energy ($552 million) and Sentinel Energy ($345 million). That’s nearly $1.2 billion in failed energy deals alone. Saban Capital is the fourth 2019 liquidated SPAC at $250 million.
It’s been a tough year for the energy sector in general, SPACs or otherwise, but it’s a disappointing announcement nonetheless. We still have four more SPACs with an energy-focus searching for targets – HL Acquisitions (HCCH), Trident (TDAC), Tortoise (SHLL) and the recent Alussa Energy (ALUS) – so let’s see if they can change things around.
Cantor Equity Partners II, Inc. (NASDAQ:CEPT) announced the pricing of its upsized $240 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CEPT”, Friday, May 2, 2025. The new SPAC intends to combine with a target in the financial services, healthcare, real estate services, technology, or software industries....
Gores Holdings X Inc. (NASDAQ:GTENU) announced the pricing of its upsized $312 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTENU”, Friday, May 2, 2025. The new SPAC aims to combine with a target company in the industrials, technology, healthcare, or consumer sectors. Gores X’s management team...
Wen Acquisition Corp. (NASDAQ:WTENNU) has filed for a $261 million SPAC to hunt for a crypto or financial services target with a team staffed by former advisors to the FinTech SPAC series. The new SPAC is not overfunded and will have a 1/2 warrant in each unit with 24 months to initially complete a business...
April highlighted two defining trends in the SPAC market: an increased reliance on extended deadlines and a surge in announced transactions. Extension votes doubled compared to March, while the number of De-SPAC deals disclosed reached nine in April alone. These developments underscore a market that remains active but continues to rely on deadline extensions, largely...
D. Boral ARC Acquisition Corp. I has filed for a $250 million SPAC to be David Boral’s first in-house SPAC since the internal split at the firm formerly known as EF Hutton. Before that split, Boral and his former partner Joseph Rallo served as executive managers for the EF Hutton I SPAC, which ultimately combined...