Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: A SPAC II in talks to sign LOI with medtech target and AppHarvest files for Chapter 11 bankruptcy
A SPAC II Acquisition Corp. in Talks to Sign LOI With Medical Technology Target
A SPAC II Acquisition Corp. (NASDAQ:ASCB) has identified a potential business combination target company in the medical technology sector (“the Partner”) for an initial business combination that it believes may have cutting-edge technology and the potential for significant growth. The company is in preliminary talks to enter into a letter of intent with the Partner. Such letter of intent, if executed, will have no legal binding effect on either the company or Partner.
Based in Taiwan, the Partner specializes in microsphere technologies for ultrasound contrast agents that facilitate ultrasound imaging and ultrasound-mediated targeted delivery. The Partner is believed to have developed a patented microbubble based contrast agent for the usage of early cancer screening and drug delivery in ultrasonic imaging
Agri-business AppHarvest files for Chapter 11
In what it describes as a “financial and operational transition”, sustainable food company AppHarvest, Inc. (NASDAQ:APPH) has filed for Chapter 11 bankruptcy protection in a bid to it to reduce its outstanding liabilities.
The company has also obtained a commitment from Equilibrium – its largest secured creditor – to provide approximately $30m of debtor-in-possession (DIP) financing to provide the necessary liquidity to support operations during the Chapter 11 process. The DIP financing is subject to approval by the bankruptcy court.
The company went public via a SPAC in early 2021 and planned to operate 12 indoor farming facilities by 2025.
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Terms Tracker for the Week Ending December 1, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. For the most part, this was a quiet week for filings being that it followed the Thanksgiving holiday. Ideally, bankers, lawyers and teams got a...
Aimei Health Technology Co., Ltd (NASDAQ: AFJKU) announced the pricing of its $60 million IPO this evening. Its units are expected to begin trading on the Nasdaq under the symbol “AFJKU” on Monday, December 4, 2023. After the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to...
PROOF Acquisition Corp I (NYSE: PACI) announced this afternoon that it has closed its business combination with private aviation company Volato after shareholders approved the deal at a meeting on November 28. In total, including previous shareholder votes, shareholders opted to redeem an aggregate of 99.93% of PACI’s trust, leaving it with less than $215,000...
Adit EdTech (NYSE: ADEX) announced this morning that its shareholders have approved its business combination with bitcoin self-mining company Griid Infrastructure at a special meeting held yesterday, November 30. A total of 8,520,710 shares of common stock, representing approximately 95.7% of the outstanding shares entitled to vote, were present at the meeting, constituting a quorum...
At the SPAC of Dawn There had been hopes that this week would take one world conflict off the board, but combat has resumed in the Middle East as other eyes are likely to be fixed on new Fed comments today. The fighting in Gaza continues to not appear to have appreciable affects on the...