The Morning SPAC Update (Jul 10, 2024) 🔒

Good morning!

Transition reminder: SPAC Track will soon be ListingTrack (August 1). More details are at the end of this newsletter.

SPAC & De-SPAC Daily Trading (prev. session)

SPAC Gainers & Losers

SPAC Volume Leaders

De-SPAC Gainers & Losers

De-SPACs listed from 2019- in descending order with the 3 Gainers followed by the 3 Losers

News & De-SPAC Updates

• Getaround ($GETR) was delisted from NYSE and will begin trading OTC under the same symbol, GETR, starting today.

• Clene ($CLNN) will implement a 1-for-20 reverse split effective ahead of trading on July 11. — PR

SPAC Updates

Liquidations / Terminations

• SDCL EDGE ($SEDA) & cunova and KME Aerospace: the merger was automatically terminated due to the expiration of the outside date. The parties are in talks to enter into a new deal with adjusted financing terms. — SF

Merger Votes / Completions

• Monterey Capital ($MCAC) & ConnectM: reported an updated redemption price of $11.36 per share. Reversals are being accepted. — SF

• Tristar I ($TRIS) & Helport set the merger vote for Aug 1st. — SF

• Catcha ($CHAA) & Crown LNG Holdings AS: merger closed. The combined company, Crown LNG Holdings Limited, trades as CGBS starting today. — PR

Deal Updates

• Newbury Street ($NBST) announced that its merger partner, Infinite Reality (IR), raised $350M, bringing the valuation to $5.1B, and acquired Landvault for $450M. At the deal announcement back in Dec 2022, IR was valued at $1.7B. — SF

Other SPAC Updates

• Canna-Global (OTC: $CNGL) update: Liqueous, the hedge fund that sold the unregistered shares into the market, issued a press release asserting that recent reports from Canna-Global were “misinformation” and that the firm has faced “significant resistance” from Continental and Canna-Global’s external counsel in its “efforts to resolve disputes” the parties. — PR

• International Media ($IMAQ) reported that 3 Board members have resigned, including the nominee for CEO and CFO. — SF

Listings

New Issues: IPOs, New S-1s

IPOs

• SIM Acquisition Corp. I ($SIMA-U) announced it priced its $200M IPO. — PR

Listing Warnings / Transfers:

• Finnovate ($FNVT) was granted continued listing until Nov 4. — SF 

Key Filings

Extensions:

• Embrace Change ($EMCG) — PRE

• Goal ($PUCK) — PRE

• Nova Vision ($NOVV) — PRE

• Qomolangma ($QOMO) — PRE

S-4 Filings*:

• Clover Leaf Capital ($CLOE) & Kustom Entertainment — S-4/A

Post-Merger S-1 Filings**:

• Nuvo Group ($NUVO) — F-1/A

*The latest S-4 filings can be found in the Announced Mergers dataset.

**Includes PIPE resale registrations where applicable — the latest post-merger S-1 filings can be found in the De-SPAC Screener in the column group “De-SPAC Profile”.

Key Event Calendar:

See the full calendar: SPAC Calendar

Transition reminder:

SPAC Track will soon be ListingTrack! Our users now enjoy an improved user experience and access to a significantly broader dataset covering initial public listings, including traditional IPOs, SPACs, spinoffs, direct listings, as well as pre-IPOs, at Listingtrack.io. This is all in addition to retaining all of the coverage provided by SPAC Track.

Starting on August 1, the Spactrack.io URL will re-route users to the revamped site at Listingtrack.io, and the new home for SPACs will be ListingTrack’s SPAC Hub.