Posts
January 17 2020
Fintech SPAC East Stone Acquisition files for a $100 million IPO
East Stone Acquisition, a blank check company formed by East Stone Capital to acquire a fintech business, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
www.nasdaq.com
January 16 2020
Far Point to Buy Global Blue From Silver Lake
Far Point Acquisition Corp., FPAC +0.75% the blank-check company launched by former New York Stock Exchange President Thomas Farley, said Thursday it plans to buy Swiss payments company Global Blue for $2.6 billion, including debt.
www.wsj.com
January 15 2020
“SPAC” No Longer A Four-Letter Word On Wall Street
Sometimes called a ‘buyer of last resort,’ SPACs, or special purpose acquisition companies, are revamping their image and enjoying a resurgence after a 25% uptick last year. These entities, also called blank check companies, raise capital through an initial public offering and use the proceeds to acquire an existing company, usually within two years. The money raised through the IPO is put into a trust until the SPAC identifies a target. That makes the people behind the SPAC a major selling point for investors.
www.forbes.com
January 14 2020
Mudrick Capital Acquisition Corporation To Combine With Hycroft Mining Corporation
Mudrick Capital Acquisition Corporation (NASDAQ: MUDS, MUDSU and MUDSW) (“MUDS”), a publicly traded blank check company, and Hycroft Mining Corporation (“Hycroft”), a US-based, gold and silver producer operating the Hycroft mine located in the world-class mining region of Northern Nevada, today announced that they have entered into a definitive purchase agreement, under which Hycroft will sell all of the equity interests of Hycroft’s subsidiaries and substantially all of its other assets to MUDS, and MUDS will discharge and pay or assume certain of Hycroft’s liabilities.
www.finance.yahoo.com
January 06 2020
Open Lending and Nebula Acquisition Corporation Announce Business Combination Agreement
Open Lending, LLC (“Open Lending”), a leading provider of lending enablement and risk analytics solutions to financial institutions, and Nebula Acquisition Corporation (NASDAQ: NEBU) (“Nebula”), a special purpose acquisition company sponsored by True Wind Capital, L.P. (“True Wind”), today announced that they have entered into a definitive business combination agreement. Under the terms of the agreement, Nebula will acquire Open Lending through a new Delaware holding company (the “Company”), which will become a publicly-listed entity with an implied estimated enterprise value at closing of approximately $1.3 billion.
www.prnewswire.com
December 26 2019
‘Blank-Check’ Deals Get New Look After High-Profile IPO Flops
(Bloomberg) — Move over, IPOs. Special purpose acquisition companies, once a last resort for owners looking to exit an investment, have become a popular choice for private companies spooked by the swings in the regular IPO market. This helped lead SPAC volumes to their best year yet with a range of top dealmakers from private equity firm TPG to banker Michael Klein getting into the mix.
www.finance.yahoo.com
December 19 2019
Twelve Seas and Brooge Holdings Announce Shareholder Approval of Business Combination
Twelve Seas Investment Company (“Twelve Seas”) (BROG), a company formed for the purpose of entering into a business combination, and Brooge Holdings Limited, a Cayman Islands exempted company (“Brooge Holdings”), announced today that Twelve Seas held an extraordinary meeting of its shareholders today and the shareholders of Twelve Seas approve…
www.yahoo.finance.com
December 19 2019
Act II Global Acquisition Corp. (NASDAQ: ACTT) (“Act II”), a publicly traded special purpose acquisition company, the owners of Merisant Company (“Merisant”), one of the world’s leading manufacturers of zero and low-calorie sugar substitutes, and the owners of MAFCO Worldwide LLC (“MAFCO”), the world’s leading manufacturer of natural licorice…
www.businesswire.com