Tastemaker Acquisition Corp. (NASDAQ:TMKR) announced this afternoon that it has terminated its combination with jewelry distributor Quality Gold.
The parties noted that they decided to nix the deal due to market conditions that would be challenging to navigate.
On June 15, Tastemaker received a notice from The Nasdaq stating that for the last 30 consecutive business days, the company hasn’t been able to meet the minimum market value of its listed securities requirement of $35 million.
As a result, the SPAC will have 180 calendar days, or until December 12, to regain compliance. In order to do so, the market value for TMKR must be at least $35 million for a minimum of 10 consecutive business days at any time during this 180-day period or else it will be subject to a delisting. Tastemaker stated that it is actively monitoring this and is considering options available to it to regain compliance.
The parties inked the $989 million deal in October 2022. Tastemaker originally brought about $279 million into the deal through its trust, but saw 89.40% redeemed during a December meeting, leaving it with $29.8 million post-vote. The SPAC did not supplement the deal with additional committed capital and it did not include a minimum cash condition. The Fairfield, Ohio-based company sells about 165,000 jewelry SKUs through 15,000 retailers and its native ecommerce site with vertically integrated production, wholesaling and sales operations.
Solarius Capital (NASDAQ:INACU) has filed for a $150 million IPO to seek out a financial services target with a team making its first step into SPACs. The new SPAC is offering investors a 1/2 warrant in each unit and it will overfund its trust to 100.5% with $10.05 per unit in the trust account from...
At the SPAC of Dawn Today is a major day of economic indicators with eight different reads on retail sales, import prices, industrial production, as well as both business inventories and home builder confidence index rolling in through the morning. All of this is to come ahead of a Fed interest rate decision tomorrow. This...
Indigo (NASDAQ:INACU) has filed for a $100 million SPAC to take a first-time team on a broad search for a target as 2025 SPACs hit a key milestone. The new SPAC is to sell units containing one right to a 1/10 share in each with no overfunding of its trust. Shareholders are slated to get...
At the SPAC of Dawn SPAC votes are to heat up in a shortened week that is to see markets closed on Thursday. Teams have nonetheless put seven votes on the docket for the four days that business is in session. Only one of these is a vote to complete a business combination, which is...
Terms Tracker for the Week Ending June 13, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This week brought three new SPAC IPOs with pricings from BEST SPAC I Acquisition Corp., Blue Acquisition Corp. and Blue Water Acquisition Corp. III. All...