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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Feb 2, 2022

January saw the SPAC market fall quickly alongside the broader market as a revolt against “spec tech” and overall sentiment drove it lower.

SPAC Market Review – December 2021

Dec 29, 2021

2021 is drawing to a close and what a year it was for SPACs. In our December market update we take a look at the last month of the year and give our latest thoughts on the market, including: record IPO issuance and SPAC supply; aging SPACs and outlook for terminations; and the merger market including its financing evolution

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SPAC Daily: Thursday, November 17

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SPAC Daily: Tues, November 15

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DeSPAC FOXO Technologies CEO/COO gets terminated as the stock is in free fall and the rest of today’s SPAC news.

SPAC Daily: Weds, November 9

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Things are slow in SPAC land, we give a rundown of today’s happenings, filings and early liquidations in today’s update.

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