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GigCapital2, Inc. (GIX) Sweetens & Shrinks Backstop Following Vote

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JAWS Juggernaut (JUGGU) Prices Upsized $240M IPO

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IPO-Pricing

JAWS Juggernaut Acquisition Corp. announced the pricing of its upsized $240 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “JUGGU” Friday, June 18.

The new SPAC aims to combine with a growth-oriented target with differentiated technologies that drive social and economic value. JAWS Juggernaut is led by Chairman nominee Barry S. Sternlicht, CEO Paul E. Jacobs, Ph.D., CIO Wilcoln Lee, and CFO Michael Racich.

Total SPAC deal count for 2021 year-to-date is now 345. This offering is expected to close on Tuesday, June 22.


Credit Suisse is serving as sole book-running manager for this offering. Kirkland & Ellis LLP is serving as Issuer’s Counsel with Skaden, Arps, Slate, Meagher & Flom LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.

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Source: https://spacinsider.com/2021/06/18/jaws-juggernaut-acquisition-corp-prices-upsized-240m-ipo/

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Acies Acquisition Corp. (ACAC) Shareholders Approve PLAYSTUDIOS Deal

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Acies Acquisition Corp. (NASDAQ:ACAC) announced in a press release that its shareholders approved its combination with social gaming developer PLAYSTUDIOS, Inc. at a special meeting earlier today.

The press release did not mention redemption amounts, but it notes that approximately 97% of the votes cast at the special meeting approved of the business combination.  The transaction is expected to close as soon as practicable, and the combined entity’s shares and warrants will start trading on the Nasdaq under the symbols, “MYPS” and “MYPSW”, respectively.

PLAYSTUDIOS started 2021 off strong with 27% growth in revenue, but ACAC dropped 2% to $9.63 following the meeting.

The parties initially announced the $1.1 billion deal on February 2. Las Vegas-based PLAYSTUDIOS develops casual free-to-play games that grant players real world benefits at client businesses in retail, travel and leisure as a gamified loyalty experience.


ADVISORS

  • J.P. Morgan and LionTree Advisors are acting as financial advisors to PLAYSTUDIOS.
  • Davis Polk is acting as legal advisor to the company.
  • Morgan Stanley is acting as capital markets advisor to Acies Acquisition Corp.
  • Latham & Watkins LLP is acting as legal advisor to Acies.
  • J.P. Morgan, LionTree Advisors, Morgan Stanley, and Oppenheimer & Co. are acting as placement agents for the PIPE.

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Source: https://spacinsider.com/2021/06/17/acies-acquisition-corp-shareholders-approve-playstudios-deal/

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Hudson Executive (HEC) Shareholders Approve Talkspace Deal

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Hudson Executive Investment Corp. (NASDAQ:HEC) shareholders announced in a press release today that its shareholders approved its combination with virtual behavioral healthcare company Talkspace at a special meeting earlier today.

The press release did not mention redemption amounts, but stated that 94.51% of the votes cast, representing approximately 74.05% of HEIC’s outstanding shares, voted to approve the business combination with Talkspace.

The parties now expect to close the deal June 22, after which its shares and warrants will trade on the Nasdaq under the symbols “TALK” and “TALKW,” respectively, on June 23.

It comes as no surprise that the virtual mental health provider did well during the COVID pandemic where many were faced with lockdowns and quarantine.   Talkspace delivered a strong Q1 2021 for operational and financial results as its net revenue grew by 144% year-over-year to $27.2 million.  Total active members grew by 110% during this same time period as individuals and employers’ attitudes shifted to focus on mental health. However, today’s meeting did not seem to settle well with investors as HEC plummeted over 5.7% to $9.23 following the announcement.

Hudson Executive and Talkspace initially inked its $1.4 billion deal on January 13. Talkspace connects users to licensed mental health care providers through a web and mobile platform and can also provide psychiatric services and prescription fulfillment.


ADVISORS

  • J.P. Morgan Securities LLC acted as lead financial advisor to Talkspace.
  • Jefferies acted as financial advisor to Talkspace.
  • Latham & Watkins LLP acted as legal counsel to Talkspace.
  • Citigroup Inc and J.P. Morgan Securities LLC acted as capital markets advisors and placement agents.
  • Citigroup acted as financial advisor to Hudson Executive Investment Corp.
  • Milbank LLP acted as legal counsel to Hudson Executive Investment Corp.

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Source: https://spacinsider.com/2021/06/17/hudson-executive-shareholders-approve-talkspace-deal/

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The Latest SPAC News and Rumors: June 17th, 2021

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Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Farming startup Infarm is in talks to merge with Kernel SPAC while Fusion in talks to launch new blank-check company and aims to list in London


Infarm Is in Talks to Go Public Via Merger with Kernel SPAC

Indoor farming startup Infarm is in advanced talks to go public through a merger with blank-check firm Kernel Group Holdings Inc., people with knowledge of the matter told Bloomberg.

A transaction would value the combined entity at more than $1 billion, said one of the people.

San Francisco-based Kernel, led by CEO Mark Gross, the former CEO of Supervalu, raised about $305 million in a February IPO.

READ


Fusion SPAC Aims to Beat London Rush With New Blank-Check Firm

Fusion Acquisition Chief Executive John James is in talks to launch a new blank-check company which could soon file for a listing in London with the aim of becoming the first to take advantage of a new British SPAC regime, sources told Reuters.

James, who runs two existing SPACs – Fusion Acquisition Corp and Fusion Acquisition Corp II – is working with JPMorgan on his third Fusion investment platform.

The plan, backed by Fusion Chairman Jim Ross who spent more than two decades focused on ETFs, is the latest by a SPAC entrepreneur who has turned serial investor during the blank-check company boom.

Fusion’s listing choice of London comes as post-Brexit Britain aims to make the capital more competitive in the finance sector, with new rules expected to come in by “early summer,” according to the Financial Conduct Authority.

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Source: https://spacinsider.com/2021/06/17/latest-space-news-and-rumors-june-17th-2021/

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