The recently-enacted Inflation Reduction Act introduced a 1% excise tax on stock buybacks beginning in 2023, and in the absence of guidance from the Treasury Department, it is unclear whether the tax applies to SPAC share redemptions. More and more SPACs are...read more
The fourth quarter started off with a quiet week, as just one SPAC priced and three small issuers submitted initial filings. Aquaron Acquisition (AQUNU) raised $50 million. Led by CEO and Chair Yi Zhou, co-founding CEO of Ease Consulting and...read more
Aquaron Acquisition, a blank check company targeting the new energy sector, raised $50 million by offering 5.0 million shares at $10. Each unit consists of one share of common stock and one right to receive one-fifth of a share upon the completion of an initial...read more
There were no pricings ahead of the long holiday weekend, the first week with no IPOs or SPACs in over two years, by Renaissance Capital’s standards. Normally the IPO market is gearing up for a wave of post-Memorial Day launches, but new filings have been...read more
A growing list of SPACs plan to liquidate early to avoid a possible 1% excise tax in 2023
The recently-enacted Inflation Reduction Act introduced a 1% excise tax on stock buybacks beginning in 2023, and in the absence of guidance from the Treasury Department, it is unclear whether the tax applies to SPAC share redemptions. More and more SPACs are...read more
US IPO Weekly Recap: October IPO market kicks off with a quiet week
The fourth quarter started off with a quiet week, as just one SPAC priced and three small issuers submitted initial filings. Aquaron Acquisition (AQUNU) raised $50 million. Led by CEO and Chair Yi Zhou, co-founding CEO of Ease Consulting and...read more
SPAC Aquaron Acquisition prices $50 million IPO, targeting new energy plays
Aquaron Acquisition, a blank check company targeting the new energy sector, raised $50 million by offering 5.0 million shares at $10. Each unit consists of one share of common stock and one right to receive one-fifth of a share upon the completion of an initial...read more
US IPO Weekly Recap: No IPOs before the Memorial Day weekend
There were no pricings ahead of the long holiday weekend, the first week with no IPOs or SPACs in over two years, by Renaissance Capital’s standards. Normally the IPO market is gearing up for a wave of post-Memorial Day launches, but new filings have been...read more