SPAC IPO for Aimfinity

by | Apr 26, 2022

Elon + Twitter = DWAC + CFVI status check. 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

SPAC IPO: Aimfinity (AIMA)

Aimfinity Investment Corp. I (AIMA). The SPAC completed a $70M offering, with a seemingly complicated Class 1 + 2 warrant structure, hoping to incentivize shareholders to hold. The offering is expected to close on April 28, 2022. The SPAC target will not be limited to a particular industry or geographic region, although it will not complete a combination with a target headquartered in China or with a majority of its business in China.

SPAC Deal: AOGO / EON Realty

Arogo Capital Acquisition Corp. (AOGO) announced a DA with EON Realty, a virtual and augmented reality and knowledge metaverse company. The transaction values EON at an enterprise value of $655M and is expected to provide EON with approximately $101M in cash (before redemptions and other expenses). The transaction is expected to close by the second half of 2022.

Elsewhere in SPACs

Twitter isn’t the only social media play in the spotlight. The conversation once again turns to Truth Social (DWAC) and Rumble (CFVI). While CFVI shares are flat YTD, DWAC shares have declined 21% YTD. There’s more than one thing wrong at the Trump social media company. According to a recent short report by Kerrisdale Capital:

“DWAC’s stock has much further to fall given the demonstrably misleading statements in DWAC’s registration statement, the status of TMTG’s operations at the time the merger agreement was executed, the cast of characters seeking to consummate that merger and those individuals’ flagrant disregard for SEC rules and regulations.”

Thanks to Axios for a good status check on both companies.

Upcoming Merger and Extension Votes

Source: Boardroom Alpha

More from Boardroom Alpha

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

Recent Analysis

Daily SPAC Update – June 14, 2024

PLMI Extension Vote. TETE Extends. COOL Sets Extension Vote. GPAC Investor Deck. BAYA, RCFA, GAMC Merger Agreements. COOL, RWOD, FLFV Update Trust Values.

Daily SPAC Update – June 13, 2024

Catcha Investment (CHAA) + Crown LNG Approved. DHAC + VSee Labs Deal Approved. SEDA Investor Deck. Feutune Light (FLFV) Updates Trust & Redemptions.

Daily SPAC Update – June 10, 2024

Bayview Acquisition Corp + Oabay Inc. SPAC deal announced. EVE extension vote today. BUJA sets extension vote. PWUP amends merger agreement. COOL postpones to June 26.

Subscribe to Boardroom Alpha Newsletters

Subscribe to Boardroom Alpha's research to receive the latest on governance, SPACs, and people.


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.