Swiftmerge Acquisition (IVCP) + AleAnna Energy Deal Vote. Mars Acquisition (MARX) + ScanTech Deal Vote. PRLH and IGTA Extensions Approved. IGTA to be Delisted.
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SPAC Daily Brief – December 12, 2024
Swiftmerge Acquisition Corp’s (IVCP) merger with AleAnna Energy, a leading developer of Italian natural gas and renewable resources, with operations spanning Dallas, TX, and Rome, Italy, and a pipeline of projects in Italy’s Po Valley, goes to vote today. Mars Acquisition Corp (MARX) also has a deal vote with ScanTech Identification Beam Systems, an AI-driven leader in fixed-gantry CT scanners for baggage and cargo security. Pearl Holdings (PRLH) and Inception Growth (IGTA) shareholders approved extensions for their SPACs, with significant redemptions, while IGTA also faces delisting. Future Vision II (FVN) amended its merger agreement, and Aimfinity (AIMAU) set an extension vote for Dec 30, 2024. In DeSPAC news, THCP transitioned to CNCK on Dec 11, with OACC set to separate warrants and rights on Dec 16. New SPAC IPO activity includes Jackson Acquisition Co II (JACS), raising $230M on Dec 10.
MERGER VOTES
IVCP – Swiftmerge Acquisition Corp + AleAnna Energy, LLC
AleAnna is an international energy company focused on developing Italian natural gas and renewable natural gas resources to provide critical and secure natural gas supplies to Italy and Europe. Established in 2007, AleAnna has utilized modern 3D seismic and advanced subsurface technologies and capital allocation discipline to systematically develop attractive onshore natural gas resources in the Italian Po Valley. AleAnna is one of few licensed oil and gas operators in Italy, and AleAnna’s broader exploration inventory includes approximately 1.4 million net acres of resource potential with an aggregate of 22 concessions, permits, and pending applications. AleAnna’s key conventional asset, the Longanesi field, is expected to be produced in the first quarter of 2025. AleAnna’s renewable natural gas business is enabled by a unique and geographically advantaged overlap of existing agriculturally supported anaerobic digestors, conventional development, and pipelines. AleAnna has a growing backlog of renewable natural gas development projects and expects to have five RNG facilities under its control by the end of 2025. AleAnna has regional headquarters in Dallas, TX, and Rome, Italy.
MARX – Mars Acquisition Corp + ScanTech Identification Beam Systems
ScanTech Identification Beam Systems, LLC, is a leading global innovator, developing the most advanced non-intrusive ‘fixed-gantry’ CT baggage and cargo logistics screening technology in the world. ScanTech utilizes proprietary artificial intelligence (AI) and machine learning capabilities to develop state-of-the-art CT (computed tomography) scanners that accurately and quickly detect hazardous and contraband materials. With a commitment to making the world a safer place, ScanTech develops systems, software, and artificial intelligence designed to protect the world’s most sensitive security checkpoints. While initially focused on the airline industry, the unmatched speed and accuracy of the company’s fixed gantry solutions seek to revolutionize security operations capabilities worldwide, providing critical security measures to governments, businesses, and individuals across a diverse group of industries.
SPAC VOTE RESULTS
PRLH – PEARL HOLDINGS ACQUISITION CORP * Extend to Jun 17, 2026 * 2,094,867 redeemed * trust $11.36
IGTA – INCEPTION GROWTH ACQUISITION LTD * Extend to Jun 13, 2025 * 984,194 redeemed
SPAC DEAL & EXTENSION VOTES SET
AIMAU – Aimfinity Investment Corp I * EXTENSION VOTE SET: Dec 30, 2024 * trust $11.77
OTHER SPAC NEWS
IGTA – INCEPTION GROWTH ACQUISITION LTD * Delisting
FVN – FUTURE VISION II ACQUISITION CORP * Merger Agreement Amendment
DeSPACs
THCP -> CNCK on Dec 11
SEPARATE WARRANTS/RIGHTS
OACC on Dec 16
NEW SPAC IPOs
Dec 10: JACS – Jackson Acquisition Co Ii $200M IPO
YESTERDAY’S TOP SPAC GAINERS
4.46% ~ $ 11.95 | GLLI – Globalink Investment Inc. (Announced)
3.87% ~ $ 11.80 | CLBR – COLOMBIER ACQUISITION CORP. II (Pre-Deal)
2.81% ~ $ 13.16 | BOCN – Blue Ocean Acquisition Corp (Announced)
1.27% ~ $ 11.95 | DECA – Denali Capital Acquisition Corp. (Announced)
1.09% ~ $ 10.18 | MACI – Melar Acquisition Corp. I/Cayman (Pre-Deal)
YESTERDAY’S TOP SPAC LOSERS
-33.33% ~ $ 7.24 | MARX – Mars Acquisition Corp. (Announced)
-10.89% ~ $ 12.35 | IPXX – Inflection Point Acquisition Corp. II (Announced)
-9.08% ~ $ 5.21 | ROCL – Roth CH Acquisition V Co. (Announced)
-6.07% ~ $ 10.52 | IVCP – Swiftmerge Acquisition Corp. (Announced)
-3.71% ~ $ 10.90 | MCAG – Mountain Crest Acquisition Corp. V (Announced)
LATEST SPAC IPO PERFORMANCE
Dec 10 | | JACS – Jackson Acquisition Co II
Dec 04 | $ 9.99 | SPHA – Shepherd Ave Capital Acquisition Corp
Dec 04 | $ 10.00 | TAVI – Tavia Acquisition Corp.
Nov 26 | $ 9.95 | FACT – FACT II Acquisition Corp.
Nov 20 | $ 9.93 | DYNX – Dynamix Corporation
Nov 20 | $ 9.99 | NOEM – CO2 Energy Transition Corp.
Nov 15 | $ 10.02 | HSPT – Horizon Space Acquisition II Corp.