#2 Export after Potassium
Another De-SPAC combo and a Kazakhstan oil and gas deal in this edition of the Morning Update, the pre-market recap for SPAC Track Pro subscribers.
Good Morning,
We now have a 3rd De-SPAC marriage or a merger-among-De-SPACs this year: CarLotz is set to merge with Shift Technologies.
Earlier this year DraftKings closed its acquisition of Golden Nugget Online Gaming and just last week Nikola announced it was acquiring Romeo Systems.
Also, one of the 2 new deals today is Caspi Oil Gas, a concession owner for oil and gas production In Kazakhstan.
Previous Session Stats
Gainers & Losers
Volume Leaders
News & De-SPAC Updates
De-SPAC Merger: CarLotz to merge with Shift Technologies in a stock-for-stock merger with an expected exchange ratio for CarLotz holders (actual will be adjusted at closing) of 0.692158 shares of Shift common stock for each share of CarLotz common stock
Based on the expected exchange ratio, upon the closing of the merger Shift’s then-current equity holders will own approximately 52.9% of the combined company, and CarLotz’s then-current equity holders will own approximately 47.1% of the combined company, calculated on a fully diluted basis
The Merged company will continue to trade as SFT (PR)
The Deals
1) Liberty Resources [$LIBY] & Caspi Oil Gas
Caspi is the concession owner of the Rakushechnoye Oil Field, located in West Kazakhstan. The Rakushechnoye License Block is located onshore Caspian Sea of the Mangyshlak peninsula, West Kazakhstan. It covers an area of about 287 sq km in the south-western Manghystau Province. Geologically the field lies within the South Mangyshlak sedimentary basin and the two largest fields, Zhetybai and Uzen, are located approximately 65 kilometers to the north and 85 kilometers to the northeast respectively.
2) OceanTech I [$OTEC] & Captura Biopharma
Captura Biopharma is an emerging biotechnology company developing and commercializing oral chelators to treat internal transuranic radionuclide contamination and heavy metal poisoning. Its leading candidate, C2E2, would be the world’s first oral treatment for internal transuranic radiation contamination. NIH and BARDA-funded efficacy studies in animal trials, pursuant to the FDA’s Animal Rule, have demonstrated the ability of C2E2 to chelate select heavy metals, notably americium and plutonium. Captura Biopharma believes that C2E2 may also have efficacy in treating exposure to certain other heavy metals, including lead and gadolinium.
SPAC Updates
Liquidations
New Liquidation: Equity Distribution [$EQD] announces it will liquidate effective Sep 19th with a $10.01 redemption price (PR)
Merger Votes / Completions
Completion: CHW (CHWA) & Wag Labs! [$PET] with ticker change to PET today
Extensions
Nova Vision [$NOVV] deposited $0.10 per public share into trust in order to extend its deadline for 3) months Aug 10th to Nov 10th (PR)
IPOs
Embrace Change Acquisition Corp. [$EMCG-U]
$65M, 1 Warrant, 1 Right (1/8th of a share)
UW: EF Hutton
Registrations
New S-1s
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Registration Withdrawals
Freestone Acquisition Corp (FSTN)
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Key Filings
SPAC S-4 Activity
S-4:
BOA [$BOAS] & Selina
S-4/A:
Brilliant [$BRLI] & Nukkleus
Cleantech [$CLAQ] & Nauticus Robotics
CF VI $CFVI] & Rumble
Cohn Robbins [$CRHC] & Allwyn Entertainment
Kensington Capital IV [$KCAC] & Amprius
*Latest S-4 filings are found in the “Deal Details” view under the column “S-4 Link”
De-SPAC/ Post-Merger S-1s
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*including PIPE resale registrations where applicable — latest post-merger S-1 filings are found in the “De-SPAC" view under the column “Post-Close S-1”
Upcoming Dates:
Announced Shareholder Meetings, Unit Splits, Warrant Redemptions
See the full calendar with proxy links here.
SPAC Track Pro:
Please note that a list of all the data points available on the Pro Screener with download eligibility can be found here: spactrack.io/data-catalog
Thanks for reading,
The team at SPAC Track (spactrack.io)