Two SPAC Deals to Start the Week

by | Apr 25, 2022

Two med-related SPAC deals. Convert and PIPE action. And the rest of the day’s news in SPACs.

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SPAC Deal: DKDCA + OneMedNet

Data Knights Acquisition Corp.(DKDCA) announced a DA with OneMedNet. The transaction values OneMedNet, the ‘leading curator of regulatory-grade Imaging Real Word Data (RWD), at an enterprise value of approximately $317 million. No PIPE. Expected completion in the second half of 2022.

SPAC Deal: XPAX + SuperBac

Data Knights Acquisition Corp.(XPAX) announced a DA with SuperBAC, a Brazil-based biotech. The transaction values SuperBAC at a post-money enterprise value of approximately $500 million. Expected completion in the second half of 2022. Slide deck here.

Convert for BOAS / Selina Hotels

BOA Acquisition Corp. (BOAS) announced that Selina Hospitality PLC has entered into agreements for a $147.5 million of 6% senior unsecured convertible notes due 2026. This additional financing is expected to close concurrently with the SPAC merger with BOAS and allow Selina to realize its multi-year business plan. Selina is a lifestyle and experiential hospitality brand targeting Millennial and Gen Z travelers.

Upsized PIPE for ITHX / Mondee

ITHAX Acquisition Corp (ITHX) / announces upsized PIPE for Mondee to $70M up from $50M, from “two leading financial investors.”

Elsewhere in SPACs

  • EdtechX Holdings Acquisition Corp. II (EDTX) files for an extension from June to December. SPAC has ~$10.15 in trust. Doesn’t appear to be adding additional cash to trust.
  • Altitude Acquisition Corp. (ALTU) is gearing up for an extension vote. Current deadline of 6/11. Signed an LOI on 3/1.

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Source: Boardroom Alpha

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<a href="" target="_self">Joanna Makris</a>

Joanna Makris

Joanna has been analyzing and investing in emerging technologies for over two decades, having led the Technology, Media, and Telecom research at several global investment banks, including Mizuho Securities and Canaccord Genuity. Navigating stock market volatility since it all began in 2000. Banjo player, artist, and frittata-maker.

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