Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Voltus partners with Chesapeake Energy, South Korea’s SPAC IPOs eclipse company public listings, and HK Acquisition Corp. completes IPO as Hong Kong’s third SPAC
Voltus Partners with Chesapeake Energy Corporation to Deliver 10 MW of Fast-Response Grid Services to Oklahoma
Voltus, Inc., the leading distributed energy resource (DER) software platform, today announced it has partnered with Chesapeake Energy Corporation (NASDAQ: CHK) to enroll 10 megawatts (MW) in the Southwest Power Pool (SPP) Operating Reserves (OR) market. SPP OR is a fast-response, ancillary services market that pays businesses like Chesapeake to reduce electricity consumption in response to a market signal, driving down electricity costs for neighboring communities, and supporting the reliability of the electric grid.
On November 30, 2021, Broadscale Acquisition Corp. (“Broadscale”) (Nasdaq: SCLE) entered into a definitive agreement for a business combination with Voltus.
READS. Korea’s SPAC IPOs eclipse company public listings
SPACs are gaining momentum in South Korea’s initial public market on the back of eased regulations and brokerage companies’ efforts to make up for reduced fee income from the otherwise sluggish IPO market.
A total of 20 SPACs were listed on the Korean bourse this year, according to the Korea Exchange on Wednesday. Their IPO sizes range from 20 billion to 100 billion won ($15 million-$76 million). Another 12 SPACs are in the pipeline of domestic IPOs. Six other SPACs have submitted IPO applications.
READBlank-check firm of former HKMA chief Norman Chan completes $127 million IPO as Hong Kong’s third SPAC listing
HK Acquisition Corp, a blank-check company backed by the former head of Hong Kong’s de facto central bank, has its book fully covered for its HK$1 billion (US$127 million) IPO on Monday, according to people close to the transaction.
The SPAC formed by Norman Chan Tak-lam, the former chief executive of the Hong Kong Monetary Authority (HKMA), along with two family members of the city’s former chief executive Donald Tsang Yam-kuen, will issue 100 million shares at HK$10 each. Every two shares will entitle the holder to one warrant, exercisable at HK$11.50.
HK Acquisition Corp is the city’s third SPAC to complete an IPO under a relatively new listing regime that started in January
AI Transportation Acquisition Corp. (NASDAQ:AITR) filed its S-1 last Wednesday afternoon for a $50 million IPO, marking the first SPAC to file for an IPO in March. While the new company may pursue a target in any industry, it intends to focus its search in the transportation field, including but not limited to logistics, new energy...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Virgin Orbit plans for insolvency amid rescue talks with investors, WeWork reaches deal to cut debt, and Pear Therapeutics explores “strategic alternatives” Virgin Orbit plans for insolvency amid rescue talks with investors Sky News...
Home Plate (NASDAQ:HPLT) has entered into a definitive agreement to combine with shipping company Heidmar at an anticipated enterprise value of $214.4 million, or 7.2x its 2023E EBITDA. Athens-based Heidmar operates an asset-light shipbroking network providing access to a pool of 60 fuel tanker and dry bulk ships. The combined company is expected to trade...
two (NYSE:PIAI) announced in an 8-K this morning that it has pushed back its special meeting one week from March 24 to 10 am ET, March 31. Shareholders at the meeting will consider a proposal to extend its transaction deadline from April 1 to January 1, 2024. The SPAC’s sponsor has not yet offered to...
Terms Tracker for the Week Ending March 17, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Despite this week’s headlines about bank failures, EF Hutton managed to file both a new S-1 registration statement and price an IPO. They should have...