This morning, Silver Spike Acquisition Corp. (SSPKU), the $250 million cannabis-focused SPAC, filed a new amended S-1. The only material change noted is the duration was adjusted down from 24 months to 18 months. This deal is still on track to price tonight, but this change should generate a little bit more demand.
However, it’s interesting to note that this is a solid team with a solid underwriter and yet, they felt the need to go to 18 months. For reference, Tuscan II (THCA), the most recent cannabis SPAC, priced just last month with a 1/2 warrant and 21 months. Plus, Tuscan was a little problematic given that the CEO has three cannabis SPACs in the market at the same time searching for targets. This is all to say that it feels like the tide is turning on terms and the SPAC market is getting a little tighter. However, more on that later today in a forthcoming post. In the meantime, revised summary of terms below.
Revised summary of terms:
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....