Search results for: SPACs

SEC Settles Charges with Northern Star II for Misrepresentations in IPO Disclosures | SPAC Feed

Source Node: https://spacfeed.com/sec-settles-charges-with-northern-star-ii-for-misrepresentations-in-ipo-disclosures
Time Stamp: January 26, 2024 12:36 PM - Modified On: January 26, 2024 - Published By:
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The sec announced that Northern Star Investment II agreed to settle charges that it made misleading statements in forms filed with the SEC as part of its January 2021 ipo. The SEC's order finds that Northern Star violated an antifraud provision of the Securities Act of 1933. Without admitting or denying the SEC's findings, Northern Star II agreed to a cease-and-desist order and to pay a $1.5 million penalty in the event it closes a merger transaction. Northern Star II announced today it will liquidate, but continue as a corporate

Mars Acquisition to Pursue Additional NRAs as Extension Vote Approaches | SPAC Feed

Source Node: https://spacfeed.com/mars-acquisition-to-pursue-additional-nras-as-extension-vote-approaches
Time Stamp: January 24, 2024 2:33 PM - Modified On: January 24, 2024 - Published By:
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Mars Acquisition in an 8-K said it plans to discuss s non-redemption agreements with certain existing shareholders ahead of a meeting to vote on a deadline extension. Mars wants to push its completion deadline from Feb. 16 to Nov. 16, allowing more time to finalize its deal with ScanTech. A meeting is set for Jan. 30 to vote on the proposal, which does not include additional contributions to the trust if the measure is approved. As of today, Mars and the sponsor have entered into NRAs with several unaffiliated third

Churchill Capital VII Transferring to Nasdaq From NYSE | SPAC Feed

Source Node: https://spacfeed.com/churchill-capital-vii-transferring-to-nasdaq-from-nyse
Time Stamp: January 24, 2024 2:05 PM - Modified On: January 24, 2024 - Published By:
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Churchill Capital VII announced that it plans to transfer its listing from the New York Stock Exchange to the nasdaq. Churchill VII expects that listing and trading on the nyse will end at market close Feb. 2, with trading set to begin Feb. 5 on the Nasdaq. The SPAC's shares, units and warrants will trade under the respective ticker symbols CVII, CVIIU and CVIIW. Churchill VII has a merger agreement with CorpAcq Holdings Limited. The deal has a pro forma enterprise value of approximately $1.58 billion. If the deal is approved,

SEC Brings the Hammer Down on SPACS | SPAC Feed

Source Node: https://spacfeed.com/sec-brings-the-hammer-down-on-spacs
Time Stamp: January 24, 2024 10:54 AM - Modified On: January 24, 2024 - Published By:
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SEC commissioners on a 3-2 vote today imposed sweeping changes on the regulatory landscape governing spacs. The biggest change would be removing “safe harbor” protections that currently allow companies being acquired by SPACs to provide more forward-looking projections than are allowed for traditional IPO issuers. Chairman gary gensler said the goal is to level the playing field so SPAC rules more closely follow rules for other companies pursuing an IPO. He was among the three commissioners who voted in favor of the new regulations. The new rules and amendments require,

Options Traders Bet Trump-Tied SPAC Can Double Again in Days | SPAC Feed

Source Node: https://spacfeed.com/options-traders-bet-trump-tied-spac-can-double-again-in-days
Time Stamp: January 23, 2024 1:07 PM - Modified On: January 23, 2024 - Published By:
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After Digital World Acquisition's wild surge Monday, some options traders are betting shares may double within days. Options volume in the stock has soared in the past two sessions, with a record number of contracts having already changed hands this week. Meanwhile, shares of the SPAC — which is trying to take Donald trump's social media firm public — rallied 88%, before paring some of the gains Tuesday. Shares were trading this afternoon at $47.45 after falling off a new 52-week high of $50.50 earlier today. Read more. Source: Options Traders

FTAC Emerald Shareholders Approve 11-Month Extension, Though Redemptions Claim 69% of Shares | SPAC Feed

Source Node: https://spacfeed.com/ftac-emerald-shareholders-approve-11-month-extension-though-redemptions-claim-69-of-shares
Time Stamp: January 23, 2024 12:39 PM - Modified On: January 23, 2024 - Published By:
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ftac Emerald Acquisition shareholders approved a deadline extension to Dec. 20, the SPAC said in an 8-K. Redemptions of 10,872,266 shares at $10.6224 per share stripped the trust of approximately $115,489,643. Following the redemptions, 4,757,884 public shares remain outstanding. Led by SPAC veteran betsy cohen, FTAC Emerald earlier this month said that it entered into a non-binding letter of intent for a business combination with an unnamed target. FTAC had faced an original termination deadline in June 2023, but just before it was due to expire the SPAC announced it

Many Boom Time Startup Acquisitions Have Worked Out Badly

Source Node: https://news.crunchbase.com/ma/boom-time-startup-acquisitions-tdoc-drizly/
Time Stamp: January 23, 2024 7:00 AM - Modified On: January 23, 2024 - Published By:
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Buying a startup can work out very well. Just ask Meta about its Instagram purchase in 2012 or let Google tell you about its $50 million acquisition in 2005 of a little company called Android. But while success stories happen, it’s also true that many purchases work out badly. Acquirers might find they overpaid, face regulatory backlash, failed to scale the business, or have determined it isn’t a strategic fit. Such acquisition-gone-awry narratives often proliferate when business cycles shift — as they did in the past two years. Deals crafted

Gucci’s Parent Company Pays $963M For Fifth Avenue Retail Space | SPAC Feed

Source Node: https://spacfeed.com/guccis-parent-company-pays-963m-for-fifth-avenue-retail-space
Time Stamp: January 22, 2024 6:16 PM - Modified On: January 22, 2024 - Published By:
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Another luxury brand is paying nearly $1B to acquire retail space on Fifth Avenue.Kering, the parent company of Gucci, Balenciaga and Brioni, is paying $963M to acquire the 115K SF retail condominium at 717 Fifth Ave., it announced Monday. The multilevel space sits at the base of a 26-story office tower and was sold by Jeff Sutton's Wharton Properties.Sutton was also the owner of 720 and 724 Fifth Ave. across the street, which Italian fashion house Prada paid more than $820M combined to acquire last month. The sales show that demand from

Google and AT&T join $155 million AST SpaceMobile investment

Source Node: https://spacenews.com/google-and-att-join-155-million-ast-spacemobile-investment/
Time Stamp: January 19, 2024 8:41 PM - Modified On: January 19, 2024 - Published By:
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TAMPA, Fla. — Google and AT&T have joined a $155 million strategic investment in AST SpaceMobile, which is set to raise double that to help fund its direct-to-smartphone connectivity constellation. The strategic investment also includes funds from existing shareholder Vodafone, one of Europe’s largest telcos with a significant presence across Africa. It comes alongside AST SpaceMobile’s plans to draw up to $51.5 million from an existing debt facility and raise at least $100 million by selling discounted shares. The capital injection will support AST SpaceMobile’s ambitions to deploy commercial services

Public Company Watch: January 2024 | SPAC Feed

Source Node: https://spacfeed.com/public-company-watch-january-2024
Time Stamp: January 19, 2024 1:11 PM - Modified On: January 19, 2024 - Published By:
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In the January Public Company Watch, we cover key issues impacting public companies, including navigating the 2023 20-F season, updated sec guidance related to confidential treatment applications, the Delaware Court of Chancery upholding the rejection of advance notice and striking down certain bylaw amendments, a NYSE rule change that will make it easier for passive substantial shareholders to invest in NYSE-listed companies… Source: Public Company Watch: January 2024 SEO Powered Content & PR Distribution. Get Amplified Today. PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here. PlatoAiStream. Web3 Intelligence. Knowledge Amplified.

Space investors banking on funding uptick in 2024

Source Node: https://spacenews.com/space-investors-banking-on-funding-uptick-in-2024/
Time Stamp: January 18, 2024 9:21 PM - Modified On: January 18, 2024 - Published By:
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TAMPA, Fla. — Space investments should start picking up in 2024 after plummeting last year, executives discussing the industry’s outlook said Jan. 17, but will likely remain far short of record highs. According to recently released research from early-stage investor Space Capital, around $17.9 billion was invested in the global space economy in 2023, 25% less than in 2022 and a decade low against tough economic conditions.  This level of investment was a far cry from a $47 billion peak Space Capital recorded for 2021 as banking giants such as