Spartan Energy Acquisition Corp. (SPAQ.U) to Begin Trading Today
Last night, Spartan Energy announced the pricing of their $480 million Apollo sponsored SPAC. The unit will begin trading this morning under the symbol SPAQ.U.
Actually, Spartan announced their pricing, not once, but twice. In what looked to be a slight mix-up with press releases, Business Wire initially announced Spartan’s pricing at $400 million. To say, that was a surprise would be an understatement with a deal this hot. Luckily, about an hour later, a corrected press release was put out with a solid 20% increase to $480 million.
It’s August…weird things happen in August.
Congratulations to all and looking forward to the business combination!
Congratulations to the Underwriters – Citigroup and Credit Suisse as joint book-running managers, and Jefferies LLC, RBC Capital Markets, LLC and Tudor, Pickering, Holt & Co. Securities, Inc. as co-managers. Vinson & Elkins L.L.P. and Kirkland & Ellis LLP, were Issuer’s and Underwriter’s Counsel, respectively.
At the SPAC of Dawn Travel and hospitality were hot sectors for SPACs as they boomed during the pandemic because there was a obvious upside story to tell about where each target might be once the world reopened. Since then, SPACs have largely shied away from the industry. Part of this has been the less...
Once again, the November 2024 corporate actions continues the trend of SPAC teams seeking additional extensions beyond their first one as they work to close their combinations with the remaining funds after redemptions. However, both announcements and completion vote-type corporate actions events were unusually light this month. Extension Votes In November, there were a whopping...
Future Vision II (NASDAQ:FVNNU) has entered into a definitive agreement to combine with adtech firm Viwo at an equity value of $100 million. Beijing-based Viwo provides AI-enabled targeting technology for marketers and brands in China. The combined company is expected to trade on the Nasdaq once the deal is completed by the end of the...
At the SPAC of Dawn The SPAC market could be primed to wake up from its Turkey Day slumber with a bang this week as both Shepherd Ave (NASDAQ:SPHAU) and Tavia (NASDAQ:TAVIU) have lined up to IPO and five more SPACs have scheduled votes. Late Friday also saw the Future Vision II (NASDAQ:FVNNU) announce a...
Terms Tracker for the Week Ending November 29, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This was a shortened holiday week, but SPACs still managed to put through a number of filings, which should usher in a busy first half...