This is big deal….on Friday, July 5th, the SEC granted accelerated approval of the Nasdaq’s proposed rule change to their listing standards and this could significantly impact post-combination SPACs with low floats going forward. Especially since the accelerated approval means the changes are set to go effective as of August 5th…less than 30 days away.
Carol Anne Huff, from Kirkland & Ellis, who recently wrote a two-part series on the Nasdaq’s proposed rule changes, will be back again to break it all down for you in a forthcoming post. While she’s putting together her thoughts on the matter, you can catch up on her analysis of the proposed changes via Part I and Part II, which are linked below.
We have a number of combination votes scheduled for July, so tune in to see how these SPACs could potentially be affected.
PART I PART II
Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...
In June 2025, the SPAC market was marked by a notable rise in meeting delays, with adjournments and postponements playing a central role in extension activity, as sponsors navigated a more cautious market environment. Still, several SPACs secured shareholder approvals, and seven business combinations were completed during the month. At the same time, IPO issuance...
An In-Depth Look at SPAC Activity Through the Second Quarter & First Half 2025 Below is a summary of the first half of 2025 SPAC market. If you’d like a pdf copy, you can access the link HERE. Q2 kicked off in chaos. President Trump’s shifting and often contradictory tariff announcements sent markets reeling, driving...
At the SPAC of Dawn The market is set to be showered with new SPACs today as three more SPACs priced their IPOs overnight, bringing 2025’s total to 66, already surpassing the full-year total of 2024. After hours, Ribbon (NASDAQ:RIBB) also added a new SPAC deal to June’s tally just under the wire, bringing the...
NMP Acquisition Corp. (NASDAQ:NMPAU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NMPAU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company that has a resilient business model with potential to scale up revenue. NMP’s management...