Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Martin Franklin makes offer to acquire Whole Earth Brands and Lucid to power Aston Martin’s future EVs
Franklin Eyes Buyout of Whole Earth Brands in $169 Million Deal
Whole Earth Brands Inc.’s (NASDAQ:FREE) largest shareholder, Martin Franklin, has made an offer to acquire the rest of the company.
The serial dealmaker submitted a non-binding proposal of $4 per share in cash for the health food company, according to a regulatory filing Monday. That represents a 28% premium to Whole Earth Brands’s last closing price.
Whole Earth Brands went public in 2020 through a merger with a blank-check firm during the boom in special purpose acquisition companies, or SPACs.
READAston Martin Cuts Deal With Lucid For EV Tech
Aston Martin has reached a deal that will see it giving a 3.7 stake in the company to US electric vehicle firm Lucid (NASDAQ:LCID) in return for access to its technology as it seeks to begin making “ultra-luxury high-performance electric vehicles” from 2025.
The deal is to see the British firm making cash payments and issuing 28.4 million new ordinary shares to Lucid, together worth about £182m.
US EV maker Lucid, which makes luxury Air sedans, listed on the Nasdaq in February of last year via a merger with a SPAC.
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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...