Another Reverse Stock Split, 2 Terminations, & Meg departs SPACland for Kenya
Pre-market recap of the action in the SPAC world for SPAC Track's premium subscribers. (July 20, 2022)
The Stats:
Pre-Market Movers*:
Active Moves (1%+): CLAY 0.00%↑ +7.1%
Some De-SPAC Moves (10%+): $MOND -12.1%
*at time of this writing
Previous Session Movers & Volume Leaders:
The Deals:
No new deals
News:
Frazier SPAC Is in Talks to Merge With NewAmsterdam Pharma (Bloomberg)
NewAmsterdam Pharma BV, a biotechnology company that aims to treat metabolic diseases, is in talks to go public through a merger with blank-check firm Frazier Lifesciences Acquisition Corp. FLAC 0.00%↑ , according to people with knowledge of the matter.
Frazier, a Seattle-based special purpose acquisition company led by Chairman and Chief Executive Officer Jamie Topper, is in final discussions with investors for a private investment in public equity to support a transaction that’s set to value the combined entity at more than $700 million, said some of the people, all of whom requested anonymity as the talks are private. As with all transactions that have not been finalized, it’s possible talks could collapse.
Frazier Chief Financial Officer David Topper and a NewAmsterdam representative declined to comment.
Founded in 2019, Netherlands-based NewAmsterdam, led by CEO Michael Davidson, is backed by venture capital firm Forbion, Morningside Ventures and Ascendant BioCapital. The company said in January 2021 it had raised $196 million from those investors as well as others including Kaiser Foundation Hospitals, Peter Thiel and Janus Henderson Investors.
Updates:
B. Riley Principal 150 Merger Corp. (BRPM) completes its merger with FaZe Clan and will start trading as $FAZE today
CC Neuberger Principal Holdings II PRPB 0.00%↑ shareholders approved the merger with Getty Images
—> The merger is expected to close on 7/22 with the combined company trading as $GETY starting on 7/25
Fortune Rise Acquisition Corporation FRLA 0.00%↑ terminated its merger with VCV Digital Technology
Aesther Healthcare Acquisition AEHA 0.00%↑ and United Gear & Assembly terminated their merger
—> AEHA “intends to continue to identify and pursue a business combination with an appropriate target”
CleanTech Acquisition Corp. CLAQ 0.00%↑ shareholders approved the deadline extension from 7/9 to 8/19 with the ability to extend on a monthly basis for up to five more times (until 1/19/23)
—> 15,466,711 shares were redeemed, or an estimated ~89% of the public SPAC shares, leaving an estimated ~$18M remaining in trust
—> CLAQ deposited $100,000 to trust for the 1st month of the 6 possible extensions
Chavant Capital Acquisition Corp. CLAY 0.00%↑ shareholders approved the deadline extension from 7/22/22 to 1/22/23
—> 7,046,967 shares were redeemed, or an estimated ~85% of the public SPAC shares, leaving appx $9,575,800 in trust
—> CLAY deposited $0.033 per non-redeeming share into trust
Brilliant Acquisition Corporation BRLI 0.00%↑ shareholders approved the deadline extension from 7/23 to 10/23
—> 1,025,281 shares were redeemed, or an estimated 22% of the remaining public SPAC shares, leaving appx. $31.2M in trust
—> BRLI deposited $0.12 into trust per remaining public SPAC share, bringing the appx. trust value per share to $10.60
Clover Leaf Capital Corp. CLOE 0.00%↑ deposited $0.10 per share to extend its deadline from 7/22 to 10/22
—> This extension is the first of three 3-month extensions permitted
East Resources Acquisition Company ERES 0.00%↑ announced it has entered into a non-binding LOI with a vertically integrated alternative asset manager specializing in specialty insurance products, with a focus on origination, asset management, valuation and servicing
—> ERES set 7/25 as the date for its meeting to vote on extending its deadline from 7/27/22 to 1/27/23
biote Corp. BTMD 0.00%↑ will be delisted from Nasdaq and begin trading on the OTC Markets starting today, 7/20, after it received determination from Nasdaq that it is out of compliance with the minimum $20M market value and the 400 round lot holder requirement
—> BTMD also waived lockups for 3.2M shares “in an effort to comply with Nasdaq listing standard requirements with respect to its public float”
Meg Whitman, ex-CEO of HP and eBay resigned from the Board of Lead Edge Growth Opportunities LEGA 0.00%↑ , as the Senate confirmed her appointment by President Biden to be the Ambassador to Kenya
Hippo Holdings HIPO 0.00%↑:
New SPACs (S-1s):
No new S-1s
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De-SPAC S-1s (including PIPE resale registrations*):
S-1:
S-1/A:
Effective:
biote BTMD 0.00%↑
S-4 Activity:
S-4/A:
Silver Crest Acquisition Corporation SLCR 0.00%↑ (9th amendment)
Upcoming Dates:
Upcoming Announced Shareholder Meetings, Unit Splits, Warrant Redemptions
See the full calendar here.
SPAC Track Pro Notes:
Please note that a list of all the data points available on the Pro Screener with download eligibility can be found here: spactrack.io/screener-instructions
Thanks for reading,