Deal Announcements still flowing- PAFO / Caravelle Group

by | Apr 6, 2022

Deal announcement for PAFO / Caravelle Group, MLTX debuts in the green. And the rest of the day’s news in SPACs.

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Deal Announcement: PAFO + Caravelle Group

Encouraging to see a fairly steady pace of deal announcements. Pacifico Acquisition Corp. (PAFO) announced an intended merger with Caravelle Group. The deal values the company at an enterprise value of $527M and includes a $60M PIPE. Caravelle is an ocean technology company providing international shipping services and carbon-neutral solutions for wood desiccation. The transaction is expected to close in the fall of 2022. 

NuScale Adds $15M PIPE

Spring Valley Acquisition Corp. (SV) / NuScale announces another $15M PIPE by Nucor, bringing total to $236M. Nucor is the largest and most diversified steel and steel products company in North America. NusScale is a provider of advanced nuclear small modular reactor (SMR) technology.

Armada Acquisition Corp. I (AACI) / Rezolve positive 2022 guidance update

Armada Acquisition Corp. I (AACI) / Rezolve announced updated 2022 guidance. Rezolve, whose focus is mobile commerce and engagement, announced a substantial improvement in adjusted EBITDA . The company now expects ~$34M EBITDA loss in 2022 , versus prior guidance of $172M.

Elsewhere in SPACs

  • MoonLake Immunotherapeutics (MLTX) deSPACed today. Shares closed in the green at $12.25.
  • UTA Acquisition Corporation (UTAA) spiked on unsubstantiated Internet speculation that the SPAC is looking to merge with ‘social media’ platform OnlyFans. Last week, it was reported that OnlyFans held failed talks with Forest Road Acquisition Corp. I (FRXB). UTAA shares closed at $10.05.

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