A Timeline of Events
"Of the proceeds we receive from this offering and the sale of the private placement warrants described in this prospectus, $153,000,000, or $175,950,000 if the underwriters' over-allotment option is exercised in full ($10.20 per unit in either case), will be deposited into a U.S. based trust account at Citibank NA, NY with Continental Stock Transfer & Trust Company acting as trustee, and $2.5 million will be available to pay fees and expenses in connection with this offering and for working capital following this offering."
Oct. 5, 2020 [source]: Maxim purchases first tranche of NAKD shares: ~50m shs. @ $.08.
Feb. 24, 2021 [source]: Maxim purchases second tranche of NAKD shares: ~100m shs. @ $1.70.
Mar. 3 [source]: GTA files draft of IPO prospectus.
July 12 [source]: GTA IPO preliminary prospectus to form SPAC parent company (led by Fabrice Grinda, Adore Me 'superangel' investor). IPO = $150m. Domiciled in the Cayman Islands.
Claudia Gast joins as CFO and board member. Specializes in M&A with experience in both tech and consumer goods sectors, among others.
$150m USD is the same amount that Maxim bought of NAKD shares after the two tranches: "net proceeds of US$48,499,724" + "In accordance with the terms of the Sales Agreement, under this prospectus supplement we may offer and sell, from time to time, Ordinary Shares having an aggregate offering price of up to US$99,500,000, through Maxim, acting as our exclusive sales agent".
July 13: JDR lands in NY.
Aug. 1 [source]: GTA News article about NY office opening.
Aug. 4 [source; certificate from Jul. 13]: GTA files SEC form to register two entities: GTA 1 Sponsor LP & GP (i.e., SPAC Sponsor).
Aug. 20: JDR acquisition tweet / announcement.
Sep. 24: JDR acquisition tweet / announcement.
Oct. 5 [source]: Global Technology Acquisition I Sponsor LP SEC Registration / Global Technology Acquisition I Sponsor GP Ltd SEC Registration: GTA gets official OK from the SEC on proposed prospectus of $150m.
2. Are Maxim & NAKD on One Side of a Acquisition-Merger and GTA and Adore Me on the Other?
NAKD SPAC connections:
Chris Tyson, listed on Naked Brand group website "Contact Us" is also the Head of SPAC at Advisory with MZ [source, see personal bio]. MZ began working with NAKD in 2018 [source]. Along with SPACs they also specialize in ESG mandates; Chris Tyson lists this expertise on his bio: "Corporate Governance Initiatives - Environmental, Social, Governance - ESG."
Maxim SPAC speculations:
Maxim Group LLC (which regularly is involved in SPAC IPOs [see here], very often with Continental [some examples here]) bought $150m of NAKD, as high as $1.70. Why would you buy a stock double its value, unless you had certainty in its future? How best to do that? Be the one steering the SPAC from one side of the deal?
Maxim Group has a sister company (M Vest) that deals with M&A's & IPO's. They focus on privacy & are cross sector [one example, here]. M Vest has worked with Continental in the past [e.g., on corporate sponsorship].
3. Final Tinfoil Hat Stuff
Rice Acquisition Corp filing from March 10, after Maxim equity tranches.
This filing from Jun. 10 for a "Rice Acquisition Corp. II". It states that 8,6250,000 shares of Class B ordinary shares, per value $0.0001 per share, were issued and outstanding, respectively. Must be pure chance that GTA IPO was issuing 8,625,000 warrants, as the companies look unrelated.
So, Corp II and III get made subsequently.
Corp Acquisition III and Corp Sponsor III are registered on the Sept. 3, same day, domiciled in the Cayman Islands.
Any involvement as a third party in the deal?