The SPAC Morning Update (Feb 9, 2024) 🔒

SPAC Daily Gainers & Losers (prev. session)

De-SPAC Daily Gainers & Losers (prev. session)

SPAC Updates

Liquidations / Terminations

• Magnum Opus (OPA) was delisted per its liquidation plan.

Merger Votes / Completions

• DIH Holding US ($DHAI) begins trading today after closing its merger with Aurora Technology (ATAK) on Feb 7.

• Arisz ($ARIZ) & BitFuFu: set the merger vote for Feb 28. — SF

• TG Venture ($TGVC) & The Flexi Group postponed the merger vote from Feb 8 to Feb 22 and revised the appx. redemption price from $11.12 to $11.17. — SF

• Chenghe ($CHEA) & Taiwan Color Optics reported that the closing conditions have not been met including obtaining Nasdaq listing approval. CHEA advised that it has until March 2 to close the merger, unless it opts to extend (ultimate deadline of May 2). — SF

• Solidion Technology ($STI) reported redemption results from its merger with NUBI in its Super 8-K: ~41% of the public SPAC shares were redeemed after non-redemption agreements. Leaving 2.3M public shares. — SF

Deal Updates

• Catcha Investment ($CHAA) & Crown LNG Holdings AS filed an analyst day presentation. — SF

• Digital World ($DWAC) & Trump Media & Technology Group entered into up to $50M of convertible note agreements. The notes will be convertible into units (1 share and 1/2 warrant) at $8 per unit. In addition, DWAC will issue 3.05M warrants at closing. — SF

• GigCapital5 ($GIA) & QT Imaging filed a supplement to the BCA proxy statement. — SF

• Sizzle ($SZZL) & Critical Metals (European Lithium's Wolfsberg Lithium Project) entered into subscription agreements for 1M shares for an aggregate purchase price of $10M. The investors will also receive 2.049M sponsor shares and 1M additional post-close shares, warrants to purchase up to 1M shares at a $10 exercise price, and an additional 3M bonus shares which will be issued upon the exercise of warrants at a rate of 3 bonus shares per 1 share converted from the warrants. — SF

Extensions

Upcoming Vote Updates:

• Crown PropTech ($CPTK) adjourned its meeting from yesterday to today, Feb 9. — SF

Shareholder Approvals:

• Maquia Capital ($MAQC) obtained shareholder approval to extend up to Aug 2024. ~9% of the public SPAC shares were redeemed. Remaining in trust: ~$11.0M / 997,316 shares. — SF

• Jaws Mustang ($JWSM): up to Feb 2025. ~33% of the public SPAC shares were redeemed. Remaining in trust: ~$15.5M / 1,405,293 shares. — SF

• Pono Capital Two ($PTWO): up to Nov 2024. ~14% of the public SPAC shares were redeemed. Remaining in trust: ~$17.9M / 1,649,416 shares. — SF

Listings

IPOs

• Helix Acquisition Corp. II ($HLXB) Announces Pricing of Upsized $160 Million Initial Public Offering — PR

Listing Warnings:

• Aetherium ($GMFI) reported that the Nasdaq Hearings Panel will issue a decision on delisting at a hearing on Feb 27 regarding its multiple listing deficiencies. — SF

• L Catterton Asia ($LCAA): failure to hold an annual meeting. LCAA notes that Nasdaq advised no remediation needs to occur if the merger is closed by March 21. — SF

   

Key Filings

Extensions:

• Horizon Space Acquisition I Corp. ($HSPO) — PRE

• Mountain & Co. I Acquisition Corp. ($MCAA) — PRE

• Bannix Acquisition Corp. ($BNIX) — PRER

S-4 Filings*:

• Tristar Acquisition I Corp. ($TRIS) & Helport — F-4

• Insight Acquisition Corp. ($INAQ) & Alpha Modus — S-4/A

• Feutune Light Acquisition Corporation ($FLFV) & Thunder Power — S-4/A

• BlueRiver Acquisition Corp. ($BLUA) & Spinal Stabilization Technologies — S-4/A

*Latest S-4 filings are found in the “Deal Details” view under the column “S-4 Link”

Key Event Calendar:

See the full calendar with proxy links and view it in a sortable table form here.