Silver Spike Acquisition Corp. II (NASDAQ:SPKB) announced in an 8-K filing this morning that it would be receiving shares as compensation for the termination of its merger agreement with biopharmaceutical firm Eleusis.
The parties terminated the merger on June 9, but the breakup fee has been subject to continued negotiation. The SPAC is now to receive an amount of shares equal to 3% of Eleusis’ total equity at its next capital raise, liquidity event or sale of the company. Should this occur after Silver Spike II has consummated a different business combination or liquidated, then these shares will be placed in escrow with a third-party payment agent.
For now, Silver Spike II says it will continue to seek a new business combination and has until March 15, 2023 under its original deadline to do so. The team closed its first deal in 2021 with WM Holding, an ecommerce platform connecting consumers with local cannabis products.
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...
At the SPAC of Dawn Futures sit slightly red as investors return from holidays of barbecues and fireworks to renewed concerns about where US President Donald Trump’s tariff policy might hamper trade. The latest shift produced a further one-month delay in most of the tariffs Trump has threatened to impose as his administration continues to...
Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...
Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...