Medicus Sciences Acquisition Corp. (NASDAQ:MSAC) filed an 8-K this morning disclosing that it has signed a non-binding letter of intent (LOI) for a potential business combination with medical technology company Anteris Technologies Ltd (“Anteris”), but did not provide any other details.
Australia-based Anteris is a structural heart company helping healthcare professionals to create life-changing outcomes for patients through its Better Science and Better Design technologies.
SPACs are not typically obligated to disclose discussions at this stage. However, in Anteris’ case, it was required to make a public announcement disclosing that it had been approached by the company due to applicable Australian securities laws.
This is not the same as a definitive agreement (DA) and Medicus Sciences will remain in our “searching” column until a DA is actually singed and announced. There is no guarantee that the parties will come to an agreement on a definitive merger and we have seen LOIs announced in the past only for the SPAC to sign a DA with a different target weeks later.
Medicus has a little over a year left to find a target with a deadline of February 18, 2023, giving it plenty of time to sign a DA.
Terms Tracker for the Week Ending September 6, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. It was a short holiday week and while it was light on filings, SPACs did manage to price two IPOs. That means 2024 has now...
Compass Digital (NASDAQ:CDAQ) has entered into a definitive agreement to combine with renewable energy firm EEW at a pro forma enterprise value of $386 million. London-based EEW is a solar, hydrogen and energy storage project developer with 1.4 GW of solar projects sold to date in Australia, the UK, Spain, and Sweden. The combined company...
Evergreen (NASDAQ:EVGR) has entered into a definitive agreement to combine with enterprise software firm Forekast at a pre-money enterprise value of $105 million. The company provides data analytics and customer engagement tools backed by some degree of AI automation to improve efficiencies for its business clients. The combined company is expected to trade on the...
At the SPAC of Dawn The auto-reply messages are off. SPACs are definitively back from vacation and in the thick of it. Two new SPACs are set to debut in trading today in Vine Hill (NASDAQ:VCICU) and Andretti II (NASDAQ:POLEU) and two SPACs have also landed their search on new targets, which could pull a...
Vine Hill Capital Investment Corp. announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VCICU”, Friday, September 6, 2024. The new SPAC intends to focus its search on a target business in the industrial and services industries, where it believes the expertise...