News & Events - SPACs

  • March 05, 2019

    Cannabis-Focused SPAC Raises $240M In Upsized IPO 

    Special purpose acquisition company Tuscan Holdings Corp., represented by Graubard Miller, on Tuesday priced an upsized $240 million initial public offering that will fuel its hunt to acquire a cannabis-related company, while Ellenoff Grossman & Schole LLP advised the underwriters.

  • March 01, 2019

    Tortoise Acquisition Corp. (SHLL) Prices 22.5M Unit IPO at $10/Unit

    Tortoise Acquisition Corp. (NYSE: SHLL) today announced the pricing of its initial public offering (“IPO”) of 22,500,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange (the “NYSE”) and trade under the ticker symbol “SHLL.U” beginning February 28, 2019.

  • March 01, 2019

    Hennessy Capital Acquisition IV prices upsized $261 million IPO at $10

    Hennessy Capital Acquisition IV, a blank check company targeting the industrial and infrastructure sectors, raised $261 million by offering 26.1 million units at $10. The company had originally planned to raise $250 million. BlackRock expressed an interest in purchasing $32.5 million of the IPO.

  • March 01, 2019

    Real Estate, Energy SPACs Launch IPOs Totaling $475M

    A pair of special purpose acquisition companies made their market debuts on Thursday after pricing shares at a combined $475 million, as DiamondPeak Holdings Corp. and Tortoise Acquisition Corp. look ahead to deals in the real estate and energy sectors, respectively.

  • February 14, 2019

    Cannabis blank check Tuscan Holdings files for a $200 million IPO

    Tuscan Holdings, a blank check company targeting the cannabis industry, filed with the SEC on Wednesday to raise $200 million in an initial public offering.

  • February 12, 2019

    Hennessy Capital Acquisition IV files for a $250 million IPO

    Hennessy Capital Acquisition IV, a blank check company targeting the industrial and infrastructure solutions sectors, filed with the SEC on Monday to raise $250 million in an initial public offering.

  • February 05, 2019

    TPx Communications To Go Public Via A $343 Million Acquisition

    Service provider TPx Communications, formerly known as TelePacific Communications, is going public as part of a complex deal involving a special purpose acquisition company.  Los Angeles-based TPx has teamed up with special purpose acquisition company Pensare Acquisition Corp., which will help TPx become a Nasdaq-listed public company.

  • January 31, 2019

    Pivotal Acquisition Corp. Announces Pricing of $200 Million Initial Public Offering

    Pivotal Acquisition Corp. (NYSE: PVT.U) (the “ Company ”) announced today that it priced its initial public offering of 20,000,000 units at $10.00 per unit. The units will commence trading today on the NYSE under the symbol “PVT.U”.

  • January 31, 2019

    The Gores Group's blank check Gores Metropoulos prices $375 million IPO at $10

    Gores Metropoulos, a blank check company formed by dealmaker Dean Metropoulos and The Gores Group, targeting the consumer products and services industries, raised $375 million by offering 37.5 million units at $10, as expected.

  • January 29, 2019

    Latin America blank check Andina Acquisition III prices $100 million US IPO at $10

    Andina Acquisition III, a blank check company formed to acquire a business in Latin America, raised $100 million by offering 10 million shares at $10.

  • January 24, 2019

    Modern Media Acquisition Corp. Enters into Merger Agreement with Akazoo Ltd., a global music streaming platform

    Modern Media Acquisition Corp. (NASDAQ:MMDM) (“MMDM”) today announced that it has entered into a definitive agreement to combine with Akazoo Ltd, a global digital music streaming platform based in the United Kingdom, in a transaction that would value the combined company at approximately $469 million.

  • January 23, 2019

    Blank-check company IPOs moving ahead despite government shutdown

    A corner of the market for initial public offerings (IPO) is evading the freeze on stock market flotations inflicted by the U.S. government shutdown, putting the spotlight on listings that usually stay under most investors’ radar.

  • January 14, 2019

    Why Is This Oil and Gas Company Playing Poker?

    The blank checks are getting larger on Wall Street and have even fewer strings attached.  In mid-December, Black Ridge Acquisition Corp., a public investment vehicle that raised $138 million in an IPO a little more than a year ago to do deals in the energy sector, announced that it was instead buying a company that organizes poker tournaments. As part of the deal, Black Ridge will also get a 1,000-person arena in Las Vegas for playing video games.

  • January 08, 2019

    Go Public Without a Business? It Can Work If You’re an Energy Star

    For the past two years, the hottest way to start a new oil company in the U.S. has been asking investors to write a blank check. Just launch a publicly traded corporation called a special purpose acquisition company—or SPAC—which has no other business than to raise money and then find another venture to acquire or merge with.

  • January 08, 2019

    Acamar Partners Acquisition, Dufry Chairman's SPAC, files for a $300 million IPO

    Acamar Partners Acquisition, a blank check company led by the Executive Chairman of travel retailer Dufry, filed on Tuesday with the SEC for an initial public offering.

  • January 04, 2019

    Federal Street Acquisition Corp., Thomas H. Lee Partners, L.P. and Agiliti Health, Inc. CompleteBusiness Combination

    Federal Street Acquisition Corp. FSACU, +0.00% FSAC, -0.10% FSACW, -1.28% (“FSAC”), a special-purpose acquisition company sponsored by an affiliate of Thomas H. Lee Partners,L.P. (“THL”), and Agiliti Holdco,Inc., the holding company of Agiliti Health,Inc. (“Agiliti Health”), a leading, nationwide provider of healthcare technology management and service solutions and a portfolio company of Irving Place Capital Management, L.P., announced today that they have completed their business combination.

  • December 27, 2018

    Stellar Acquisition III, Inc. Announces Consummation of Business Combination with Phunware, Inc. and Related Financing

    Stellar Acquisition III, Inc. (“Stellar” and, together with the Successor (as defined below), “Phunware”)) (NASDAQ: STLR) announced today that on December 26, 2018 it consummated its business combination with Phunware, Inc. (“Opco”) and related transactions, as contemplated by the Agreement and Plan of Merger, dated as of February 27, 2018 (as amended, the “Merger Agreement”) by and among Stellar, STLR Merger Subsidiary Inc., a Delaware corporation and a wholly-owned subsidiary of Stellar, and Opco, which was approved by Stellar’s stockholders at a meeting on December 21, 2018.

  • December 20, 2018

    Esports Has New Publicly Traded Company Putting on a Poker Face

    The rapidly expanding world of esports has a new publicly traded company, one that’s hoping to learn from the business model of another online gaming predecessor: poker.  Black Ridge Acquisition Corp. has agreed to purchase Allied Esports International Inc., an esports entertainment company, and WPT Enterprises, the creator of the World Poker Tour, from Ourgame International Holdings Ltd. for about $150 million.

  • December 19, 2018

    Draper Oakwood Technology Acquisition, Inc. Announces Consummation of Business Combination with Reebonz Limited

    Draper Oakwood Technology Acquisition, Inc. (“DOTA”) (NASDAQ: “DOTA,” “DOTAU,” “DOTAR” and “DOTAW”) announced that, at its Special Meeting of Stockholders held today, DOTA stockholders approved the proposed business combination with Reebonz Limited (“Reebonz”), a leading online luxury marketplace and platform in the Asia Pacific region based in Singapore, and related matters.

  • December 13, 2018

    Schultze Special Purpose Acquisition prices IPO at $10

    Schultze Special Purpose Acquisition, a blank check company formed by distressed debt investor George Schultze, priced its IPO at $10 on Tuesday.

  • December 12, 2018

    CF Finance Acquisition Corp. Announces Pricing of $250 Million Initial Public Offering

    CF Finance Acquisition Corp. (Nasdaq: CFFAU, the "Company") announced today that it priced its initial public offering of 25,000,000 units at $10.00 per unit.  EG&S acted as counsel to CF Finance.

  • December 11, 2018

    The Gores Group's fourth blank check company Gores Metropoulos files for $375 million IPO

    Gores Metropoulos, a blank check company formed by The Gores Group, announced terms for its IPO on Tuesday. The Beverly Hills, CA-based company plans to raise $375 million by offering 37.5 million units at a price of $10.

  • December 06, 2018

    Industrea Acquisition Corp. and Concrete Pumping Holdings Complete Business Combination

    Industrea Acquisition Corp. (Nasdaq: INDUU, INDU, INDUW) ("Industrea") today announced the closing of its previously announced business combination with Concrete Pumping Holdings, Inc. (“CPHI”).  Ellenoff Grossman & Schole LLP acted as legal counsel to B. Riley FBR.

  • December 05, 2018

    2 Firms Lead Nov. IPO Action Fueled By Blank Check Cos.

    Two firms leaped ahead of peers based on proceeds from initial public offerings they steered in November, bolstered by blank check companies that generated the largest IPOs in an otherwise quiet month for deals. Ellenoff Grossman & Schole LLP and Skadden Arps Slate Meagher & Flom LLP guided two blank check IPOs each, representing either the issuing company or their underwriters. Both firms' work spanned a total of threeblank check companies that raised $765 million combined, dwarfing the mostly small offerings completed in November by actual operating companies.

  • December 04, 2018

    China Minsheng Financial to raise $1b blank check fund to invest in SPACs: Report

    Hong Kong-listed investment holding company China Minsheng Financial Holding Corporation Ltd is looking to raise a $1-billion fund to invest in special-purpose acquisition companies (SPAC), according to a report by the Financial Times.