TWO UPSIZES! New Frontier & HL Acquisitions Both Upsize their SPACs
by Kristi Marvin on 2018-06-28 at 0:04am

Not only did we get a double order of SPACs tonight, but we got the meal with gravy.

Tonight, both New Frontier Corp. and HL Acquisitions filed to upsize their SPAC IPO offerings to cap off an extremely busy month on a high note.  For reference, there have been seven SPAC IPOs, raising nearly $2.2 billion in the month of June alone.

For everyone keeping count, that makes 22 SPACs for the first half of 2018, with total gross proceeds raised of $5.52 billion.

New Frontier increased their offering by $20 million for a final size of $250 million, while HL Acquisitions will top out at $50 million after increasing their offering by $7.5 million.

That’s a total of $300 million raised tonight (before over-allotments) and a great way to end the quarter. Unless, of course, Allegro wants to make a go of it tomorrow?

Congratulations to all. Cheers.


Recent Posts
by Anthony Sozzi on 2024-03-02 at 11:58am

Contributions to trust are typically expected from sponsors looking to retain as much of the trust account as possible that need additional time to complete business combinations. With “time to complete” steadily increasing over the past months, redemptions from the trust account do not look to be slowing down, regardless of what SPAC teams do...

by Kristi Marvin on 2024-03-02 at 11:45am

Terms Tracker for the Week Ending March 1, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. The last week of February turned out to be a sluggish one with not a lot happening on the new issuance front. Once again, there...

by Nicholas Alan Clayton on 2024-03-01 at 1:28pm

News and Rumors Bloomberg: Digital World (NASDAQ:DWAC) and its target Trump Media and Technology Group (TMTG) were hit by a new wave of legal headaches this week as both the founders of its Truth Social platform and Digital World CEO Patrick Orlando filed lawsuits over the deal’s closing share allocations. One of the suits has...

by Nicholas Alan Clayton on 2024-03-01 at 10:52am

Altitude (NASDAQ:ALTU) has entered into a definitive agreement to combine with Vesicor Therapeutics for $70 million in equity consideration. San Gabriel, California-based Vesicor is developing treatments utilizing extracellular vesicles as both a therapy themselves and as a delivery system for other medicines. Transaction Overview Altitude has about $10.3 million in its current trust after seeing...

by Nicholas Alan Clayton on 2024-03-01 at 7:45am

At the SPAC of Dawn February finished as a productive month for SPACs with 11 closing combinations, up from just four in January. And, while regular way IPOs are taking back the driver’s seat in terms of new issuance in 2024, it isn’t by a wide margin. There were actually more SPAC closings than the...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved