High Redemptions on ZeroFox

by | May 4, 2022

LNFA approves extension for ZeroFox, high redemptions. And the rest of the day’s news in SPACs.

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LNFA extends, high redemptions

L&F Acquisition Corp. (LNFA) shareholders approve extension on merger with cybersecurity provider ZeroFox to August 24th. High redemptions: 13.M shares redeemed (78.1%).

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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