Frickin' Laser Beams
An industrial blue laser deal and D-Wave starts trading in this edition of the Morning Update, the pre-market recap for SPAC Track Pro subscribers.
Good Morning,
Today we have a merger announcement from one of the 2 active SPACs led by Philip Krim (Co-founder and Former CEO of Casper). Tailwind [$TWND] will be merging with an industrial laser technology firm, NUBURU.
Previous Session Stats
Gainers & Losers
Volume Leaders
The Deals
Tailwind [$TWND] & NUBURU
NUBURU is a Centennial, CO based developer and manufacturer of industrial blue lasers that leverage fundamental physics and their high-brightness, high-power design to produce the fastest, highest quality laser materials processing, including laser welding and additive manufacturing of copper, gold, aluminum and other industrially important metals.
Valuation: Pre-money enterprise value of approx. $350M
SPAC Updates
Liquidations
GO Acq. [$GOAC] provides an update on its previously announced liquidation: the shares will be redeemed effective Aug 17th at a redemption price of appx. $10.01 (PR)
Merger Votes / Completions
Completion: DPCM Capital (XPOA) & D-Wave Systems [$QBTS] with ticker change to QBTS today
29,097,787 shares were redeemed or an estimated ~97% of the public SPAC shares (SF)
Deal Updates
CHW [$CHWA] which previously announced shareholder approval of its merger with Wag Labs, reported it has entered into FPA agreements with Milton Arbitrage Partners, MMCAP International, Nautilus Master Fund, and Polar Multi-Strategy Master Fund, in which these parties may elect to sell in the aggregate up to 2,393,378 shares of common stock of the post-merge company to Wag at a price of $10.30 per share (SF)
Golden Path [$GPCO] and MC Hologram amend the merger agreement to, among other things, extend the outside date to Dec 31st (SF)
Extensions
Approved: Chardan NexTech 2 [$CNTQ] is approved for the ability to extend its deadline up to 3 times for an additional 1 month each time upon the deposit of $200,000 into the trust
9,556,652 shares were redeemed or an estimated ~86% of the public SPAC shares
More
Departures: Simon Property Group Acq. [$SPGS] reported that David Simon, the CEO of Simon Property Group, resigned from his position as Chairman of SPGS. Eli Simon, the CEO of SPGS and son of David Simon, was appointed to replace David as Chairman.
IPOs
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Registrations
New S-1s
No new S-1s
Registration Withdrawals
Cerberus Telecom II (CTII)
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Key Filings
SPAC S-4 Activity
S-4/A:
Iron Spark I [$ISAA] & Hybebeast
Cleantech [$CLAQ] & Nauticus Robotics
*Latest S-4 filings are found in the “Deal Details” view under the column “S-4 Link”
De-SPAC/ Post-Merger S-1s
Effective:
MSP Recovery [$MSPR]
Global Business Travel Group [$GTBG]
*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:
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Thanks for reading,
The team at SPAC Track (spactrack.io)