ALAC Breaks up with SolarMax

by | Apr 14, 2022

Adding to the wave of deal terminations, ALAC calls it quits with SolarMax. A potential extension for KWAC. And the rest of the day’s news in SPACs.

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ALAC Intends to Terminate Merger with SolarMax

Time is running out for Alberton Acquisition Corp. (ALAC), which indicated it intends to terminate its merger with SolarMax Technology. The SPAC’s charter specified merger completion on or before April 26, 2022.

ATSPT Extends Lockup for SoundHound CEO

Archimedes Tech SPAC Partners Co. (ATSPT) extends lockup for SoundHound CEO Keyvan Mohajer from 6 months to 1 year. Merger vote scheduled for 4/26. SoundHound makes a voice artificial-intelligence platform used by global corporations including Mercedes-Benz (DMLRY), Snap (SNAP) and Mastercard (MA).

Kingswood Acquisition Corp. (KWAC) Looking to Extend Deadline

Kingswood Acquisition Corp. (KWAC) looking to extend from May-24 to Nov-24. Vote set for May-18. The SPAC was reportedly looking at Blackstone’s U.K. Wealth Management firm Lombard International.

Bowlero (BOWL) Warrant Redemption

Bowlero (BOWL) announced it will redeem all of its publicly traded and privately held warrants to purchase shares of Bowlero’s Class A common stock. Redemption is in cash, at an exercise price of $11.50 per share of Common Stock or on a “cashless” basis in which the exercising holder will receive shares of Common Stock. Redemption deadline is May 16th.

Elsewhere in SPACs

  • New podcast: Boardroom Alpha talks to Steve Croskrey, CEO of Danimer Scientific (DNMR) on the latest in bioplastics technology. Danimer deSPAC’d from sponsor Live Oak Acquisition Corp. in December 2020. Watch and see our overview on the story here.

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<a href="https://www.boardroomalpha.com/author/joanna/" target="_self">Joanna Makris</a>

Joanna Makris

Joanna has been analyzing and investing in emerging technologies for over two decades, having led the Technology, Media, and Telecom research at several global investment banks, including Mizuho Securities and Canaccord Genuity. Navigating stock market volatility since it all began in 2000. Banjo player, artist, and frittata-maker.

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Monthly SPAC Review

SPAC Market Review – May 2022

Jun 1, 2022

Inflation, rising interest rates, and reduced corporate earnings across the board have led to persistent market gyrations which prove its too early for bottom fishing. The stampede out of deSPACs now makes it ‘deal-or-die’ time for those without targets.

SPAC Market Review – April 2022

May 2, 2022

The market is a mess right now. A hawkish Fed and even more cautious SEC are slowing deals….but may raise the bar for more quality SPACs down the line.

SPAC Market Review – March 2022

Apr 1, 2022

Despite increased scrutiny and apparent investor fatigue, deals are getting done and SPACs remain an attractive path to the public markets.

SPAC Research & Analysis

SPAC Market Review – December 2022

Jan 3, 2023

December’s SPAC market review takes a look by the numbers of the month’s SPAC activity and how the market currently stands going into 2023.

SPACs Today: Wednesday, Dec 14

Dec 14, 2022

Rice Acquisition Corp. II (RONI) with an encouraging energy transaction, and the rest of the day’s SPAC news.

SPACs Today: Monday, Dec 12

Dec 12, 2022

Venus Acquisition Corporation (VENA) finally closed and changes ticker to MLGO, and the rest of the day’s SPAC news.

SPAC Market Review – November 2022

Dec 7, 2022

November’s SPAC market review paints a picture of a SPAC market rushing towards the exit with high, and accelerating liquidations, more deal terminations, and almost no new SPAC IPOs.

SPACs Today: Thursday, Dec 1

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Pacifico Acquisition Corp. (PAFO) are the latest with high redemptions, and the rest of today’s SPAC market news.

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Boardroom Alpha Daily Read

Apr 18, 2022

We take a look at the day’s news, ESG trends and special situations. WindAcre increases its stake and opposes NSLN takeover bid. Activist Jana Partners brings lessons learned at ConAgra (CAG) to Treehouse Foods (THS). And other notable special situations.

Boardroom Alpha Daily Read

Apr 15, 2022

We take a look at the day’s news, ESG trends and special situations. Management shakeup at Faraday Future (FIFE) is an all-too familiar story in the world of EV SPACs. Blackrock to be 75% net-zero aligned by 2030, and Jana closing in (again) at Treehouse Foods (THS).

FOXO Technologies CEO Jon Sabes Is About to Disrupt the Insurance Industry

Apr 8, 2022

Boardroom Alpha talks to Jon Sabes, CEO of FOXO Technologies, which announced a SPAC merger with sponsor Delwinds Insurance Acquisition Corp. (DWIN). Sabes explains how epigenetic biomarkers can change the game for life insurance companies and tell us more about health and wellness than ever before.

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