Telehealth-related DA for DHAC, a deal termination for AKIC / DNEG. And the rest of the day’s news in SPACs.
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Alvotech Debuts today
Icelandic biopharma Alvotech (ALVO) deSPAC’d today from Oaktree Acquisition Corp. II. The public listing ($293M market cap) is the largest debut on a US stock exchange by an Icelandic company. Shares closed at $10.95.
SPAC Deal: DHAC / VSee Lab
Digital Health Acquisition Corporation (DHAC) announces DA with VSee Lab, a telehealth software company and iDoc Telehealth Solutions, a leading neurocritical care and intensive care telehealth provider. The transaction values the company at an enterprise value of $110M.
June Deal Announcements
VGII Closes Merger with Grove Collaborative; GROV to trade tomorrow
Virgin Group Acquisition Corp. II (VGII) closes its merger with Grove Collaborative.The transaction included a $86M PIPE and $50M backstop; likely to see high redemptions. The sustainable consumer products company trades tomorrow on the NYSE as GROV.
SPAC Deal Termination: AKIC/ DNEG
Sports Ventures Acquisition Corp. (AKIC) and visual effects and animation company DNEG terminate deal due to “unfavorable market conditions.” AKIC will continue to look for another transaction.
SPAC IPO: FLVU
Feutune Light Acquisition Corp. II (FLVU) prices $85M IPO. No business combination target noted.
SPAC Daily Movers
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