LNFA approves extension for ZeroFox, high redemptions. And the rest of the day’s news in SPACs.
LNFA extends, high redemptions
PONO / Benuvia raises $50M convert
PONO Capital Corp. (PONO) target Benuvia announces $50M convertible offering. Benuvia is a drug developer focused on pharmaceutical cannabinoids. The company owns the FDA approved cannabinoid drug SYNDROS® and one of the largest synthetic cannabinoid manufacturing facilities in the U.S.
Deal terminated: GBRG / AgiiPlus
Goldenbridge Acquisition Corp. (GBRG) terminated its merger agreement with AgiiPlus. Shanghai-based AgiiPlus provides flexible office space and software solutions to businesses in China and Singapore. GBRG will look for another transaction, but has a transaction deadline coming up on June 4.
Elsewhere in SPACs
- Boardroom Alpha April SPAC market review. Check out our SPAC market review for April. Quick take: a hawkish Fed and even more cautious SEC are slowing, downsizing, and cancelling deals.
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