Carsharing Play Getaround Strikes $1.2B DA

by | May 11, 2022

Troubled video game rental player Redbox is acquired. And the rest of the day’s news in SPACs.

————————————————-
Free Investor Resources from Boardroom Alpha
—————————————————-
** Podcast: Know Who Drives Return
** Daily SPAC Newsletter
** Full SPAC Listing

Chicken Soup to Acquire Redbox

Chicken Soup for the Soul Entertainment (CSSE) is acquiring video games rental player Redbox Entertainment (RDBX) for $375M. The consideration includes assumption of $325M debt and $50M in stock. Notably, RDBX just deSPAC’ed in October with a ~$700M EV, although 89% redemptions and bad performance pummeled the stock, which is down ~60% since deSPAC. Chicken Soup, one of the largest players in the advertising-supported video-on-demand (AVOD) streaming services industry, intends to create an ad-supported media platform. The acquisition comes at a time when competition is heating up in the streaming service sector, as evidenced by the recent struggles at Netflix (NFLX).  The transaction is expected to close in the second half of 2022.

SPAC Deal: IPVA + Getaround

InterPrivate II Acquisition Corp (IPVA) announces a DA with Getaround, “the world’s leading fully digital and global carsharing marketplace.” The transaction values the carsharing company at an enterprise value of $1.2B. $259M in trust. No PIPE.

SPAC IPO: MCACU

Monterey Capital Acquisition Corp. (MCACU) prices $80M IPO. Unit = Share + Warrant + 1/10 Right. $10.10 cash in trust. Monterey Capital is led by CEO and Chairman of the Board Bala Padmakumar, EVP Vivek Soni, and CFO Daniel Davis. The SPAC has an energy focus.

OACB / Alvotech merger vote set

Oaktree Acquisition Corp. II (OACB) sets merger vote date of 6/7 for specialty biopharma Alvotech.

AGBA Extends Deadline to August, Adds to Trust

AGBA Acquisition Limited (AGBA) confirms its $0.15 trust contribution for August extension. The SPAC has another $0.15 option from August – November.

Elsewhere in SPACs

  • Americas Technology Acquisition Corp. (ATA) gets an extension from June to September. No vote date set. No incremental trust contribution.
  • Boardroom Alpha SPAC market review for April.

Upcoming Events

Source: Boardroom Alpha

More from Boardroom Alpha

For ongoing tracking, analytics, and data on SPACs checkout Boardroom Alpha’s SPAC Data and Analytics service.

<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.

Know Who Drives Return

Objective, data-driven assessments for every public company director and officer.

Learn More

SPAC Analytics & Database

Comprehensive research and analytics on every SPAC, sponsor, and deal. Real-time alerts, yields, red flags, filings, investors, and much more. API access to institutional grade SPAC database.

Learn More

Monthly SPAC Review

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

SPAC Research & Analysis

Investing in SPACs for Yield with Jonathan Browne from Robinson Capital

Oct 4, 2021

Jonathan Browne from Robinson Capital joins Boardroom Alpha’s David Drapkin to talk about SPAC arbitrage. Robinson Capital’s SPAX ETF launched in June of 2021 and is an actively managed exchange-trade fund (ETF) that invests in Special Purpose Acquisition Companies (SPACs), also known as blank check companies. SPAX seeks to provide total return while minimizing downside risk.

SPACs, FOMO, and Tail Risk – Matthew Tuttle Captures the Momentum

Sep 24, 2021

Matthew Tuttle from Tuttle Capital joins David Drapkin to talk about SPACs, FOMO, and tail risk. Tuttle Capital’s thematic and actively managed ETFs are taking advantage of the SPAC craze, everybody’s FOMO (fear of missing out), and protecting the downside tail risk.

Kyle Bransfield and Ruben Minski on the Union Acquisition II / Procaps SPAC Deal

Sep 16, 2021

Boardroom Alpha’s David Drapkin welcomes Union Acquisition II CEO Kyle Bransfield and Procaps CEO Ruben Minski to the podcast. The deal goes to vote on September 22, 2021 and ex-redemption on September 17, so this will be one of shareholders’ last opportunities to hear from the team before deciding to redeem or go long alongside Kyle and Ruben.

Know Who Drives Return Podcast

No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.

Disclaimer

The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Boardroom Alpha cannot guarantee its accuracy and completeness, and that of the opinions based thereon. 

This report contains opinions and is provided for informational purposes only – it does not constitute investment, legal or tax advice. You should not rely solely upon the research herein for purposes of transacting securities or other investments, and you are encouraged to conduct your own research and due diligence, and to seek the advice of a qualified securities professional before you make any investment.  

None of the information contained in this report constitutes, or is intended to constitute a recommendation by Boardroom Alpha of any particular security or trading strategy or a determination by BA that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.  

No representation or warranty, expressed or implied, is made on behalf of Boardroom Alpha as to the accuracy or completeness of the information contained herein. Boardroom Alpha does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed.