SPAC Highlights (Sep, 09 – Sep, 15)

Alpha Star to Combine with Fintech Company XDATA

XDATA
Alpha Star Acquisition Corp (ALSA)

Alpha Star Acquisition Corporation, a special purpose acquisition company, has announced a definitive agreement to merge with XDATA, an Estonia-based financial technology solutions provider. The transaction, expected to close in late 2024, will result in XDATA becoming a publicly traded company listed on the Nasdaq Stock Market.

XDATA offers a suite of financial technology products, including internet and mobile banking solutions, an AI-enhanced transaction monitoring system, and a CRM solution. The merger will provide XDATA with access to capital and enhance its growth opportunities in the fintech space.

Angel Studios to Go Public via Merger with Southport Acquisition, Valued at $1.6 Billion

Angel Studios
Southport Acquisition Corp (PORT)

Angel Studios, the platform empowering fans to greenlight and distribute films and TV shows, is set to become a publicly traded company through a merger with Southport Acquisition Corporation. The combined company will be listed on the NYSE or Nasdaq under the ticker symbol “AGSD”.

Angel Studios’ unique model, where its “Angel Guild” community selects projects for production and distribution, has led to successful films like “SOUND OF FREEDOM” and “HIS ONLY SON”. The company plans to continue its Bitcoin treasury strategy, aiming to build a long-term financial foundation for producing high-quality content. The transaction, valuing the combined company at $1.6 billion, is expected to close in the first half of 2025, subject to customary closing conditions.

Innventure and Learn CW’s Merger Registration Statement Effective, Paving Way for Public Listing

INNVENTURE LLC (INV)
Learn CW Investment Corp (LCW)

Innventure LLC and Learn CW Investment Corporation have announced the effectiveness of their registration statement with the SEC, marking a key step towards their proposed business combination. Learn CW shareholders will vote on the merger on September 30, 2024. Upon closing, the combined company will be listed on Nasdaq under the ticker “INV.”

Innventure focuses on commercializing breakthrough technologies from multinational corporations, building and scaling companies around these innovations. Learn CW is a special purpose acquisition company sponsored by affiliates of Learn Capital and Commonwealth Asset Management. The merger will enable Innventure to access public markets and accelerate its growth, offering shareholders opportunities in disruptive companies with the potential for high value creation.

View Press Release on sec.gov