CF VIII (NASDAQ:CFFE) announced in an 8-K this morning that its shareholders voted to approve its combination with B2B software firm Exela at a special meeting August 24.
The SPAC has not yet shared its redemption figures from the vote, but had already dispersed about 94.2% of its trust through earlier extension votes. It went into the completion vote with an estimated $15.4 million in trust and it did not have a minimum cash condition to hit.
Shareholders also approved a proposal to change the company’s name to XBP Europe Holdings and the combined company’s are expected to trade on the Nasdaq under the symbol “XBP” once the deal is closed. However, the parties have not yet announced a timeline for these next steps.
CF VIII and Exela initially announced their combination in October 2022. Irving Texas-based Exela provides bill-payment and business process automation software to large and small enterprises.
Earlier this month, Exela reported it generated $272.9 million in revenue in the second quarter of 2023 with $40.9 million in EBITDA for increases of 2.3% and 12.1%, respectively, compared with the same period last year.
Berenson Acquisition Corp. I (BACA) Signs Non-Redemption Agreements Berenson (NASDAQ:WTMA) announced in an 8-K this morning that it has entered non-redemption agreements with third parties that will secure 655,715 shares from redemption. The filing did not note what incentive, if any, these investors received for agreeing not to redeem. The move comes as Berenson is...
Crixus BH3 Acquisition Company (NASDAQ: BHAC) announced in a filing this afternoon that it is postponing its extension vote to Friday, October 6, 2023 at 9:00 a.m ET. The meeting was originally to be held Friday, September 29, but presumably it has been moved to account for amendments to its proxy which was filed today...
Welsbach Technology Metals Acquisition Corp. (NASDAQ: WTMA) announced in an 8-K this afternoon that it is postponing its extension vote one day to 2 pm ET September 29. The SPAC would not be able to postpone it much further as its current transaction deadline falls on a Saturday the next day, September 30. At the...
Global Lights Acquisition Corp. (NASDAQ:GLAC) rolled out an S-1 on Friday, to become the 21st SPAC to file in 2023. This keeps the recent pace with two new SPACs filing to list in each of the past three months so far. Three out of the last four of those have also sought to raise $60...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Terran Orbital Closes 432.5 Million Public Offering Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital” or the “Company”), which combined with Tailwind Two in March 2022, today announced the closing of its previously announced public offering of 23,214,290...