Posts
September 03 2024
Lutnick Leads Sponsors Boosting SPACs to Biggest Month Since 2022
The blank-check market is heating up after the largest month for related initial public offerings since 2022, with a mix of new and experienced sponsors pricing new deals and a rush of additional debutants expected to come.
www.bloomberg.com
September 03 2024
Semnur Pharmaceuticals to go public via SPAC merger with Denali Capital in $2.5 bln deal
Semnur Pharmaceuticals, a wholly owned subsidiary of Scilex Holding Company (SCLX.O), will go public via a merger with special purpose acquisition company Denali Capital Acquisition Corp in a $2.5 billion deal, the companies said on Tuesday.
www.reuters.com
August 30 2024
Client Alert: Federal Rule Limiting Tipped Employee Side Work Overturned
As hospitality employers are well aware, the U.S. Department of Labor (DOL) has long promulgated the “80/20 Rule” providing that in order to take the tip credit from a tipped employee’s wages, the tipped employee must spend at least 80% of their workweek performing tip-producing duties and no more than 20% on non-tipped duties. Further, since December 2021, the DOL’s updated “80/20/30 Rule” has also restricted the performance of non-tip-producing and “directly supporting” duties (collectively “side work”) to 30 consecutive minutes and restricted the employer from taking a tip credit for time spent on side work for more than 30 consecutive minutes and in excess of 20% of the workweek.
Click here to read the alert.
August 29 2024
Melco chairman Lawrence Ho-backed SPAC raises US$150 million on Nasdaq
Black Spade Capital, the family office of Macau casino operator Melco Resorts & Entertainment’s chairman Lawrence Ho Yau-lung, listed its second special purpose acquisition company (SPAC) on Nasdaq on Wednesday.
www.finance.yahoo.com
August 29 2024
4 Firms Guide VivoPower Subsidiary’s $904M SPAC Merger
Electric utility vehicle company Tembo E-LV on Thursday announced that it has agreed to merge with special purpose acquisition company Cactus Acquisition Corp. 1 Ltd. in a deal built by four law firms that values the combined business at $904 million.
www.law360.com
August 27 2024
Bob Diamond-Backed SPAC Inks Merger to Bring Events.com Public
Event management platform Events.com has struck a deal to merge with a blank-check firm led by Bob Diamond and Jeff Tuder at a pro forma enterprise value of nearly $400 million.
www.bloomberg.com
August 23 2024
Kenya Pensions Industry Plans SPAC to Tackle State Pending Bills
Kenyan pension funds are in talks to acquire a portion of the government’s overdue payments to some contractors and service providers, aiming to undo a decades-old logjam that has weighed on businesses and banks.
www.bloomberg.com
August 23 2024
Tactical Resources Plans Nasdaq Listing Via Plum SPAC Deal
Tactical Resources Corp., a mining company focused on rare earth elements, has agreed to go public on the Nasdaq stock market through a merger with a blank-check firm.
www.bloomberg.com