“The increasing global demand for defense-related technologies, driven by ongoing conflicts and tensions, underscores the value of Gresham’s offerings,” Ault Disruptive CEO William Horne stated.
Gresham $83M SPAC Merger : SPAC Market Trends
SPACs saw a surge as an alternative to traditional IPOs around 2021, fueled by pandemic-era stimulus and near-zero interest rates. However, the market has cooled over the past few years due to rising borrowing costs, weak stock performances, and increased regulatory scrutiny.
In a separate development, another SPAC merger set to close this year was canceled. Gene therapy firm American Gene Technologies International Inc. and 10X Capital Venture Acquisition Corp. III informed regulators on Friday that they mutually agreed to terminate their merger without providing a reason. The companies had announced plans last August to merge in a deal valued at approximately $500 million, aiming to take American Gene public in the first quarter of 2024.
