In no particular order, the below is a summary of this morning’s SPAC news.
TPG PACE HOLDINGS CORP. (TPGH)
TPG Pace Holdings Corp. (TPGH), filed their final proxy and set their shareholder vote to complete their business combination with Accel Entertainment, Inc. The vote will take place on Friday, November 15th, with a record date of October 21st. Shareholders that wish to redeem can do so up until Wednesday, November 13th.
GORDON POINTE ACQUISITION CORP. (GPAQ)
Gordon Pointe Acquisition Corp. (GPAQ), officially extended their deadline another 30 days to November 30th by filing an 8-K this morning. If you recall, GPAQ originally extended their deadline from July 30, 2019 to October 31, 2019, but are allowed to extend up to three more times, each by an additional 30 days. In connection with each 30-day extension, the Company’s sponsor will contribute $0.033 to the Trust for each public share outstanding, for an aggregate contribution of $364,766.79. No word yet on a shareholder vote date to complete their combination with HOF Village, LLC.
LEGACY ACQUISITION CORP. (LGC)
Legacy Acquisition Corp. (LGC), which recently extended their completion deadline from November 21st to December 21st (with the option to extend four more times for 30-days each), filed an 8-K this morning regarding their contribution to the Trust for that extension. LGC deposited $879,155.40, or $0.03 per public share, a little ahead of schedule for their first 30-day extension to December 21st.
STABLE ROAD ACQUISITION CORP. (SRACU)
Stable Road Acquisition Corp. (SRACU) filed a new S-1 today and added a new Class I Director Nominee with James Hofmockel. Mr. Hofmockel is currently the managing partner of Hofmockel Investments, LLC, and since September 2018, (312) Investments, LLC, both private investment and financial advisory firms. Stable Road is currently anticipated to price their IPO next week, on Thursday, November 7th, for Friday trading.
TWO IPO PRICINGS EXPECTED TONIGHT
We have two more SPACS expected to price tonight – Osprey Technology and LGL systems. Osprey has already filed their 8-a12b and their CERT, so it looks to be a go. LGL Systems, on the other hand, was expected to price last night, but is still waiting on approval from the SEC. LGL has not filed their 8-a12b or CERT yet, but we should get some additional clarity on whether they price tonight once they do.
BIG ROCK PARTNERS ACQUISITION CORP. (BRPA)
Big Rock Partners Acquisition Corp. (BRPA) filed a preliminary proxy last night to extend their deadline. Their current deadline is November 22nd, however, we don’t know yet how many months they will be asking for since they’ve left that part blank (for now). Additionally, it appears they will be making a contribution to the trust for the extension, but again, that part still needs to be filled in in a later proxy filing.
Trailblazer Merger I (NASDAQ:TBMC) has entered into a definitive agreement to combine with data intelligence firm Cyabra at an enterprise value of $70 million. Tel Aviv-based Cyabra provides tools to corporations and governments to identify fake accounts and combat social media disinformation. The combined company is expected to trade on the Nasdaq once the deal...
Chain Bridge I (NASDAQ:CBRG) has entered into a definitive agreement to combine with cannabinoid pharmaceuticals firm Phytanix Bio at a pre-deal valuation of $58 million. Santa Barbara, California-based Phytanix is working to develop bladder and seizure treatments using cannabis-based substances. The combined company is expected to trade on the Nasdaq under the symbol “PHYX” once...
At the SPAC of Dawn A new ripple is expected to come to the market today in the form of Ethereum spot ETFs after the SEC gave final approval to several yesterday. BlackRock, Fidelity, Bitwise, Franklin, and VanEck all received approval for their new funds and all but BlackRock plan to waive fees until they...
Maquia Capital (NASDAQ:MAQC) has entered into a definitive agreement to combine with AI infrastructure firm Velocium at a valuation of $445 million. Miami-based Velocium is developing data center processors designed to be particularly efficient for use by AI applications and Web 3.0. The combined company is expected to trade on the Nasdaq under the symbol...
At the SPAC of Dawn The third week of July brings just three votes and only ARYA IV‘s (NASDAQ:ARYD) is to complete a transaction, but plenty more is turning in SPACland. For one, this week’s anticipated IPO for M3-Brigade V (NASDAQ:MBAV) now looks notably different with 1/2 warrants in its units and its trust overfunded...