Good morning!

If you are receiving this newsletter for the first time, welcome! You will find the Weekly SPAC Review in the first section below followed by an update on Friday’s SPAC activity.

While Friday's update is included in this Weekly newsletter, the other daily updates (covering Mon-Thurs) are sent in our SPAC Morning Update newsletter to ListingTrack Pro users on the morning of each trading day.

Weekly SPAC Review (Dec 30th - Jan 3rd)

Headlines of the Week

De-SPAC M&A

• Casago, a vacation rental management company, will acquire Vacasa ($VCSA) in an all-cash transaction valued at $5.02 per share for public stockholders (31.76% premium to the closing price prior to announcement), with an equity valuation of approximately $129M. — PR

• Vivid Seats ($SEAT) is considering a sale after receiving interest from PE firms. The online ticketing marketplace, which went public via a SPAC in 2021, is working with an adviser to assess potential buyers. — Bloomberg

• Koito Manufacturing's acquisition of Cepton ($CPTN) is expected to close on Jan 7 ahead of market open.

• Markforged ($MKFG) announced that Desktop Metal ($DM) filed a complaint against Nano and Markforged, alleging that Nano breached its merger agreement with Desktop Metal by entering into the Merger Agreement with Markforged. Desktop Metal seeks to prevent the completion of the Markforged-Nano merger until its own merger with Nano is finalized. Markforged plans to defend against these claims, which it believes are without merit. — PR

Other De-SPAC News

• Danimer Scientific (OTC: $DNMR) was delisted by NYSE and is set to begin trading OTC.

• CompoSecure, Inc. ($CMPO) has announced plans to spin off its newly formed subsidiary, Resolute Holdings Management, Inc. (Resolute Holdings), into a separate publicly traded company. Resolute is expected to trade under the ticker RHLD upon transaction closing, which is expected in Q1 2025.

• iLearningEngines (AILE -- > OTC: $AILEQ) was delisted by Nasdaq and is set to begin trading OTC as AILEQ. The company recently announced it filed for Chapter 11 bankruptcy.

_{*Covering the notable activity not included in the section below}

Key Weekly SPAC Activity

Deal Announcements/ Terminations/ Closings

See more: SPAC Deal Pipeline

• No Mergers announced

• No Terminations

• Completions:

  • Mars (MARX) & ScanTech AI ($STAI), -78% from SPAC IPO

  • Coliseum (MITA) & Rain Enhancement Technologies ($RAIN), -42%

Merger Votes

See more: Merger Votes Calendar

• Merger votes set:

  • RF Acquisition Corp. ($RFAC) & GCL Asia: Jan 23

• 5 Deals in limbo (merger approved & pending closing):

  • Chenghe I ($LATG) & Femco Steel Technology

  • BurTech (OTC: $BRKH) & Blaize

Extensions

See more: Extension Votes Calendar

• Approvals:

  • International Media (OTC: $IMAQ): Jan 2027

  • Arogo Capital (OTC: $AOGO): Jun 2026

• Votes set:

  • Broad Capital ($BRAC)

  • Plum III ($PLMJ)

IPOs and New S-1s

See more: IPO Calendar & Pre-IPO Dataset

• No new IPOs

• New registrations

  • Maywood Acquisition Corp. ($MAYA)

Liquidations

See more: Liquidations Dataset

• 56 SPACs liquidated in 2024. 0 have liquidated year-to-date, while 3 are in the process of liquidating.

Current Stats:

See more: SPAC Stats

Friday’s SPAC Update

The section below is the format for the SPAC Morning Update newsletter sent to ListingTrack Pro subscribers on the morning of each trading day. You can sign up for ListingTrack Pro here.

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

SPAC Volume Leaders

News & De-SPAC Updates

• Getty Images Holdings ($GETY). is exploring a merger with rival Shutterstock ($SSTK) and has been weighing how to structure the potential deal. —Bloomberg

SPAC Updates

Deal Updates

• Direct Selling ($DSAQ) and its merger partner Hunch Mobility extended the outside date from December 27, 2024 to March 27, 2025. —SF

• Bannix ($BNIX) reported it has deferred $2,950,000 in transaction costs related to its proposed merger with VisionWave Technologies. —SF 

Extensions

• ShoulderUP Technology (OTC: $SUAC) was approved to extend up to Jan 2025. 1,080 public SPAC shares were redeemed. Remaining in trust: ~$5.6M / 508,829 shares. —SF

Key Event Calendar:

See the full calendar: SPAC Calendar