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...
Latest SPAC Liquidations: Northern Genesis III, MSD, and Tech and Energy Transition Corp. Northern Genesis Acquisition Corp. III (NGC) to Liquidate on March 24 Northern Genesis III (NYSE:NGC) announced that it will redeem all outstanding shares effective as of the close of business on March 27. Shares will cease trading on March 24 and the per-share...
GX Acquisition Corp. II (OTC:GXII) announced this morning that its shareholders have approved its combination with rare earth mineral miner NioCorp (TSX:NB) and the parties expect to close the transaction on March 17. The SPAC showed in an earlier 8-K filing that it saw about 95% of shares redeemed at the March 15 shareholder vote,...
Metals Acquisition Corp. (NYSE:MTAL) announced in an 8-K this morning that it has secured a $135 million mezzanine facility and $15 million PIPE investment to support its combination with Glencore’s (LON:GLEN) CSA Copper Mine. The facility from lender Sprott is to mature five years out from close and require quarterly payments with interest set at...
HCM Acquisition Corp. (NASDAQ:HCMA) has entered into a definitive agreement to combine with luxury property developer Murano at an enterprise value of $810 million. Mexico City-based Murano develops resorts and condos in Central and South America with two assets in its current portfolio and four under development. The combined company is expected to trade on...
Worldwide Webb (NASDAQ:WWAC) has entered into a definitive agreement to combine with consultancy firm Aeries Technology in a deal expected to result in it achieving $656 million in equity value at close. Mumbai-based Aeries provides outsourcing and offshoring business services for companies, frequently in tandem with private equity partners. Transaction Overview Worldwide Webb has about...
BYTE Acquisition Corp. (NYSE:BYTS) has inked a non-binding letter of intent to combine with public safety technology firm Airship AI that would give the company an enterprise value of $290 million. The SPAC is heading into a vote to extend its transaction deadline on March 16. This would move its deadline from March 23 to...
JATT (NYSE:JATT) announced in an 8-K this morning that it will now issue 2,500,000 new shares to its FPA investors following the close of its business combination with Zura Bio. FPA investors Athanor Master Fund and affiliates already agreed to expand their FPA purchases last month to 3,000,000 shares at $10 per share and provide...
Athena Consumer (NYSE:ACAQ) announced in an 8-K this afternoon that its forward purchase agreement (FPA) for up to 15,000,000 shares with Vellar Opportunity Fund has been terminated. The filing provided no other detail on the cause or context to the termination. But, the FPA, which was announced in October 2022, could be terminated under the...