A free inside look at company reviews and salaries posted anonymously by employees. Rosecliff is led by CEO and board member Michael Murphy, who founded the sponsor company in 2016. While this has helped foster the boom in SPACs, it has also caused concern among regulators at the SEC. Inevitably, these firms are going to be on the radar of SPAC investors. We believe Mr. Zimmermans entrepreneurial and senior leadership experience as well as his broad network makes him well qualified to serve on our board of directors. Skadden, Arps, Meagher & Flom LLP is serving as Issuers Counsel with Ellenoff Grossman & Schole LLPserving as Underwriters Counsel. Learn it. BTIG acted as a lead manager on the deal. Two investors weigh in: Is your SPAC just a PIPE dream? We seek to create positive economic impact and long-term value for our investors and portfolio companies. $RCLF Form SC 13G/A (statement of acquisition of beneficial ownership by individuals) filed with the SEC Roman delivers E.D. #CFAcquisition https://srnk.us/go/4478116, From 2/23/2023, looking back across 22 Month-Ends for RCLF, Percentage Change of Average Monthly Price had More Positives (67%) while Percentage Change of Average Monthly Volume had All Positives (100%) $RCLF #RCLF #RCLFStock #TickerDD #RCLFNews https://www.youtube.com/watch?v=0WvU_-VBzLw, What is the difference between $CFIV and $RCLF? The existence or terms of any such employment or consulting arrangements may influence our managements motivation in identifying or selecting a target business, and we do not believe that the ability of our management to remain with us after the consummation of our initial business combination should be a determining factor in our decision to proceed with any potential business combination. Understand the company you're investing in, how much it's really worth, and what the time horizon of your investment is otherwise, he says, it's just gambling. When rumors of a deal between the SPAC Churchill Capital IV and electric vehicle company Lucid Motors began to surface in early January, investors were overjoyed. Rosecliff Acquisition Corp I is a newly incorporated blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. It's the "main risk" associated with SPACs, Mike Murphy, managing partner of Rosecliff Ventures, told Insider in March. The new company willseek fundamentally strong businesses in a broad range of disruptive Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. It's not going to trickle down to Main Street, because by the time they go public, it's already a $30, $40, $50 billion company. Board of Directors Brian Radecki has served as a member of our Board of Directors since our inception. Deal-Needy SPACs Scour the Globe for Targets as Deadlines Loom, SEC Charges Hedge Fund Trader and Broker-Dealer Partner in $3.4M SPAC Insider Trading Scheme, Deep Medicine Acquisition and TruGolf Merging in $125M Deal, Billionaire Gores Sued Over United Wholesale Mortgage SPAC Deal, Bransons Rocket-Launch Firm Virgin Orbit Files for Bankruptcy, Brilliant Pursuing 8th Extension to Seal Nukkleus Deal, Gores Metropoulos Announces Dec. 1 Meeting on Luminar Merger, Decarbonization Plus Acquisition IV Files for $350M IPO, EDOC Acquisition Files Definitive Proxy Seeking Another Deadline Extension, Cannabis-Focused Adnant Concepcion Acquisition Files for $10M IPO. https://newsfilter.io/a/098600711aa23eb82692a5b1923e7025. Since 2018, Mr. Goodwin has invested his own capital in both private and public markets. Gores Metropoulos, Inc. (NASDAQ: GMHI, GMHIU and GMHIW) announced a shareholders meeting for Dec. 1 on the proposed business combination with Luminar Technologies. WebRosecliff Acquisition Corp I is a newly incorporated blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. WebSYN Ventures. Analysts estimate the likelihood of a drug advancing in its trials after detailed scrutiny, but these companies can see their stocks rise for years while losing money. A white-hot SPAC market and regulatory scrutiny might make some potential investors think twice. Biotech firms are an excellent and timely example of the way investors are looking at the market, especially post-pandemic. Mr. Zimmerman was appointed by the Governor of Florida for a second term to sit on the Board of Trustees at the University of South Florida where he has served as the Chairman of the Board since 2019. R0secliff is currently investing out of its third fund, a $250M fund focused on growth equity and late-stage deals. Israeli-founded ride-hailing startup Gett announced last week that it will enter into a definitive agreement to merge with Rosecliff Acquisition I, a special purpose acquisition company (SPAC), to go public on the NASDAQ. I actually think it's a great thing.". DealFlow Financial Products, Inc. (d/b/a DealFlow Events). At Rosecliff, oversees the entire investment team responsible for sourcing, reviewing, researching and structuring new deal flow and investment opportunities for the firm. Each committee will operate under a charter that will be approved by our board of directors and will have the composition and responsibilities described below. Rosecliff Acquisition I plans to list on the Nasdaq under the symbol RCLFU. $RCLF Form SC 13G/A (statement of acquisition of beneficial ownership by individuals) filed with the SEC Rosecliff has the capacity to invest in everything from Seed to Pre-IPO. Latest SPAC News: DWAC drops 8% amid Trumps arraignment, and Avanseus announces version 6.0 of Augmented Operations platform Trump SPAC Digital World drops amid former presidentsarraignment, delayed 10-K filing Trump SPAC Digital World Acquisition (NASDAQ:DWAC), which is CIIG Capital Partners II (NASDAQ:CIIG) announced this morning that it intends to adjourn its April 12 special meeting to approve its combination with EV motorcycle company Zapp to Friday, April 14 at 10 am ET. Whats more, investors in pre-acquisition SPACs get access to venture-like opportunities without the capital traditionally required for such investments. Murphy sees SPACs as a good thing for private companies that otherwise would have simply continued to raise money through rounds of private funding and never go public. Once again, Murphy says no. Mr. Zimmerman trademarked his advertising strategy, Brandtailing, a maverick combination of long-term brand building and short-term sales boosting that delivers measurable results. Some Investors: DCM Ventures, Lux Capital Rover Date Announced: Feb. 11, 2021 Acquirer: Nebula Caravel Acquisition Corp. Valuation: $1.35 billion Some Investors: Menlo Ventures, Spark Capital Sharecare Date Announced: Feb. 12, 2021 Acquirer: Falcon Capital Acquisition Corp. Valuation: $3.9 billion Approval of our initial business combination will require the affirmative vote of a majority of our board directors, which must include a majority of our independent directors. He believes investors who do their homework and avoid FOMO can profit from investing in SPACs. how to terminate a temporary restraining order in california 6; mobile homes for rent in brookhaven, ms 9; van dijk celebration explained 7; what was the grange movement quizlet? Previously, Mr. Radecki was an early investor in, and served on the board of directors of, Rain King Software, Inc., a leading sales and marketing intelligence platform, when it was acquired in August 2017 by Zoom Info (NASDAQ: ZI) (formerly DiscoverOrg); Docutech, a document, eSign, eClosing and compliance technology provider, when it was acquired by First American (NYSE: FAF) for $350 million in March 2020; and Optimal Blue, a digital marketplace in the residential mortgage industry, which was recently acquired by Black Knight, Inc. (NYSE: BKI). The SPAC route is a match made in heaven for consumer tech companies: SPACs put more of a focus on the management team and the vision than traditional IPOs, which is a boon for the sector, as this industry has always been dominated by visionaries. $RCLF SEC Form 4 filed by Goldman Sachs Group Inc Mr. Murphy previously was a contributor on CNBC and regularly appeared on the networks FASTMONEY segment. He has over 20 years of experience building both small private and large public companies. Rosecliff Acquisition Corp I (NASDAQ:RCLF) announced this morning that it has mutually terminated its combination with ground transport management company Gett after a review of market conditions. 4.0. | Rosecliff is a diversified investment management firm based in New York City. Mike Murphy, founder and CEO of Rosecliff Ventures, says no. We are a publicly listed special purpose acquisition Collectively, as a team, we are a combination of managers, entrepreneurs, investors and financial industry experts. ", He continued: "But at the end of the day, my belief is when a company is now trading publicly, they're going to be judged like Apple and Amazon. He is an investor in many early-stage companies and currently serves on the board of directors of Tradewell Technologies Inc. and Zoomi Inc. Additionally, he serves on the board of directors Voya Prime Rate Trust, a public closed-end loan fund. Stay up to date with what you want to know. We will adopt an audit committee charter, which will detail the purpose and principal functions of the audit committee, including: assisting board oversight of (1) the integrity of our financial statements, (2) our compliance with legal and regulatory requirements, (3) our independent registered public accounting firms qualifications and independence, and (4) the performance of our internal audit function and independent registered public accounting firm; the appointment, compensation, retention, replacement, and oversight of the work of the independent registered public accounting firm and any other independent registered public accounting firm engaged by us; pre-approving all audit and non-audit services to be provided by the independent registered public accounting firm or any other registered public accounting firm engaged by us, and establishing pre-approval policies and procedures; 117 Table of Contents reviewing and discussing with the independent registered public accounting firm all relationships the auditors have with us in order to evaluate their continued independence; setting clear hiring policies for employees or former employees of the independent registered public accounting firm; setting clear policies for audit partner rotation in compliance with applicable laws and regulations; obtaining and reviewing a report, at least annually, from the independent registered public accounting firm describing (1) the independent registered public accounting firms internal quality-control procedures and (2) any material issues raised by the most recent internal quality-control review, or peer review, of the audit firm, or by any inquiry or investigation by governmental or professional authorities, within the preceding five years respecting one or more independent audits carried out by the firm and any steps taken to deal with such issues; meeting to review and discuss our annual audited financial statements and quarterly financial statements with management and the independent registered public accounting firm, including reviewing our specific disclosures under Managements Discussion and Analysis of Financial Condition and Results of Operations; reviewing and approving any related party transaction required to be disclosed pursuant to Item 404 of Regulation S-K promulgated by the SEC prior to us entering into such transaction; and reviewing with management, the independent registered public accounting, https://www.sec.gov/Archives/edgar/data/1833498/000121390022047466/f10q0622_rosecliffacq1.htm, https://www.sec.gov/Archives/edgar/data/1833498/000121390022026472/f10q0322_rosecliffacq1.htm, https://www.sec.gov/Archives/edgar/data/1833498/000121390022016396/f10k2021_rosecliffacq1.htm, https://www.sec.gov/Archives/edgar/data/1833498/000121390022014649/ea157112-8ka_rosecliff.htm, https://www.sec.gov/Archives/edgar/data/1833498/000121390022011959/ea156788-8k_roseacq1.htm, 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https://www.sec.gov/Archives/edgar/data/1833498/000121390021007723/filename1.htm, https://www.sec.gov/Archives/edgar/data/1833498/000121390021007721/filename1.htm, https://www.sec.gov/Archives/edgar/data/1833498/000121390021007495/filename1.htm, https://www.sec.gov/Archives/edgar/data/1833498/000121390021007492/fs12021a1_rosecliffacqcorpi.htm, https://www.sec.gov/Archives/edgar/data/1833498/000000000021001515/filename1.pdf, https://www.sec.gov/Archives/edgar/data/1833498/000121390021004653/fs12021_rosecliffacqcorp1.htm, https://www.sec.gov/Archives/edgar/data/1833498/000121390020044145/filename1.htm, Investment Managers Ser Tr II-First Trust Merger Arbitrage Fd, Blackstone Alternative Multi-Strategy Fund, Healthcare of Ontario Pension Plan Trust Fund, FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES. All rights reserved. Stay informed daily on the latest SPAC news. This offering is expected to close on Wednesday, February 17. Mr. Murphy is currently a board member of multiple private, venture capital backed companies including Cargo Systems, Squarefoot, ForDays and Agile Stacks. Important Disclosures
$RCLF SEC Form 3 filed by new insider Goldman Sachs Group Inc Mr. Radecki currently serves as the Founder, Chief Executive Officer and member of the Board of Directors of Rapa Therapeutics (Rapa), a clinical stage start-up biotechnology company, spun out of the National Cancer Institute in September 2017. Outside of work, Mr. Zimmerman is an author, a philanthropist, a Horatio Alger Award recipient and a Golden Circle Member of the National Multiple Sclerosis Society. During his time at King Street, the firms AUM grew from $4 billion to approximately $20 billion. "There are going to be some great companies that go public through the SPAC market. Tenure may be a factor in investors minds, but lack thereof has never stopped a company from listing on the public markets. At Gett, we are inspired to become the industry standard in corporate ground transportation spend management. But as with any asset that grows hot, there will be parties out there expecting it to blow up. Clover Health, an insurer that provides healthcare plans for Medicare members, went public on January 8 after merging with Social Capital Hedosophia Holdings Corp III. Israeli-founded ride-hailing startup Gett announced last week that it will enter into a definitive agreement to merge with Rosecliff Acquisition I, a special purpose acquisition company (SPAC), to go public on the NASDAQ. Renaissance Capital LLC is an SEC-registered investment adviser. According to data from SPAC Research, 306 SPACs have made their public debut in 2021, raising a combined $99 billion, and another 262 SPACs are getting ready to go public. Some shareholder advocates worry that while early investors and SPAC sponsors may profit, if a SPAC flops once it hits the market, regular investors are left holding the bag. https://quantisnow.com/i/4043544?utm_source=stocktwits $RCLF SEC Form SC 13G/A filed by Rosecliff Acquisition Corp I (Amendment) Rosecliff has a total of $700M assets under management as of April 2020. 45 seconds delayed. We have a growing portfolio of fantastic businesses that make life better, brighter, bolder, and more efficient. We believe that Mr. Edmonds significant investment experience, contacts and relationships make him well qualified to serve as a member of our board of directors. In just the last year, innovation in telemedicine has brought most health appointments from the waiting room to the living room, and forced outdated healthcare administration practices to embrace digital systems. Rosecliff Ventures is a venture capital fund based in New York City. Yet, investors pour money into these companies. The markets will expect high returns for taking these risks, but they can arrive at a price nonetheless. Mike Murphy, founder and CEO of Rosecliff Ventures, says no. The sheer hype surrounding Lucid Motors as an up-and-coming player in the EV industry was enough to push shares of Churchill Capital IV up several hundred percent over the next few weeks. Frank S. Edmonds, a director nominee, has been a Partner at Panning Capital Management, L.P. since 2013, where he served as Co-Managing Partner and Head of Research from 2013 to 2018. The newly combined company will operate as Gett and trade on the Nasdaq under the symbol GETT.. $CFIV vs. $RCLF: what is the best stock to add to your portfolio? Recycle Track Systems Secures Series C Funding to Make Waste Management More Sustainable, Twine raises $3.3M to add networking features to virtual events, 767 5th Avenue (34th Floor) New York, New York 10153. Rosecliff I, a Tech SPAC, Files for $200M IPO. For comparison's sake, in 2019 59 SPACs went public, raising a paltry $13.6 billion along the way. Mr. Zimmerman currently serves as the Chairman and Founder of Zimmerman Advertising, which he founded in 1984. Our directors, director nominees and officers are as follows: Executive Officers Michael Murphy has served as our Chief Executive Officer and a member of our Board of Directors since our inception. Management firm based in New York City managing partner of rosecliff Ventures says... The way investors are looking at the market, especially post-pandemic white-hot SPAC market and regulatory scrutiny might make potential! As the Chairman and founder of Zimmerman advertising, which he founded in 1984 at company and! Investment management firm based in New York City sake, in 2019 SPACs. 200M IPO public companies sponsor company in 2016 rosecliff is led by CEO and board member Murphy... 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Measurable results through the SPAC market and regulatory scrutiny might make some potential investors think twice SPACs... Brighter, bolder, and more efficient especially post-pandemic ownership by individuals ) filed with the SEC delivers! ) filed with the SEC the Nasdaq under the symbol RCLFU Nasdaq under the symbol RCLFU 2019 59 SPACs public. Potential investors think twice caused concern among regulators at the SEC SC 13G/A ( statement of of... Scrutiny might make some potential investors think twice and public markets rights reserved in. And regulatory scrutiny might make some potential investors think twice, the firms AUM grew from $ 4 to... Arps, Meagher & Flom LLP is serving as Issuers Counsel with Ellenoff Grossman & LLPserving... Inside look at company reviews and salaries posted anonymously by employees plans to list the. 20 billion, investors in pre-acquisition SPACs get access to venture-like opportunities the! 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Over 20 years of experience building both small private and large public companies your SPAC just a dream. Weigh in: is your SPAC just a PIPE dream their homework and avoid FOMO can profit investing!