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X-Energy Combining with Ares Acquisition in $2B Deal
Existing X-Energy investors are expected to hold over 60% of the combined company, assuming no redemptions of AAC shares.
Flexi Group Merging with TG Venture Acquisition in $205M Deal
Financial terms were scant in the press release and the SPAC has yet to file any information on the deal with the SEC. TG Venture raised $100 million in a November 2021 IPO.
Liminatus Pharma and Iris Acquisition to Combine in $334M Deal
The combined company is expected to receive gross cash proceeds of up to $316 million.
Carbon Revolution Merging with Twin Ridge Capital Acquisition in $461M Deal
The target is a Tier 1 OEM supplier and a leading global manufacturer of lightweight advanced technology carbon fiber wheels.
Hyperloop Transportation Technologies Combining with Forest Road II in $600M Deal
The deal has a $40 million minimum cash consideration to close. The SPAC raised $350 million in a March 2021 IPO.
Digital World Wins Extension on Trump Media Deal After Multiple Delays
DWAC faced liquidation next month if it couldn’t get a deadline extension, although the merger faces additional legal and financial obstacles.
NEXT Renewable Fuels to Combine with Industrial Tech Acquisitions II in $530M Deal
The target is a next-generation fuels company dedicated to sustainably producing clean, low-carbon fuels from organic feedstock.
Exclusive: The International State of SPACs in 2023 and Beyond – An Interview with Corporate and Securities Attorney Doug Ellenoff
Ellenoff is bullish on U.S. SPACs, though cautiously so while the market remains in flux. Attractive targets in Europe and elsewhere should also continue to provide opportunities for SPACs, which Ellenoff sees as a critical component of healthy stock markets throughout the world. SPACs open doors that would otherwise be closed to many companies, he says. Done correctly, SPAC deals are lucrative for all parties involved.
U.S. Home Solar Battery Storage Solutions Provider Electriq Power Merging with TLG Acquisition One in $620M Deal
The transaction values Electriq at a pro forma pre-money equity value of $495 million and is expected to provide Electriq with up to $125 million of capital to fund its growth through a combination of debt and equity.
Fintech Platform Qenta Merging with Blockchain Coinvestors Acquisition I in $622M Deal
Blockchain Coinvestors I raised $300 million in an upsized November 2021 IPO. The SPAC also has an FPA with Vellar for up to 12 million shares.