Deep Medicine (NASDAQ:DMAQ) has closed its combination with golf simulator company TruGolf and will begin trading on The Nasdaq under the new ticker symbol “TRUG” on February 1.
The deal and all other proposals were previously approved by shareholders at a special meeting held on January 19.
In connection with the vote, shareholders of 378,744 DMAQ’s public shares opted to redeem their shares. Including prior votes, DMAQ shareholders redeemed an aggregate of 98.5% of the trust, leaving the SPAC with $2,254,230 and 196,020 shares remaining.
Deep Medicine announced its $125 million deal with TruGolf in April 2023. It previously planned to combine with Chinese carmaker Chijet, but the deal was terminated in September 2022. Centerville, Utah-based TruGolf manufactures advanced golf simulators and launch monitors for both home entertainment and commercial uses.
TruGolf’s current management team will continue to lead the combined company following the closing.
ADVISORS
- I-Bankers Securities, Inc. acted as sole bookrunner for the DMAQ IPO and served as financial advisor to DMAQ.
- ArentFox Schiff LLP and Sichenzia Ross Ference Carmel LLP served as counsel to TruGolf.
- Ellenoff Grossman & Schole LLP served as counsel to DMAQ.
Hennessy Capital Investment Corp. VII (NASDAQ:HVIIU) announced the pricing of its $175 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “HVIIU”, Friday, January 17, 2025. The new SPAC intends to seek out a business combination with a company in the industrial technology and energy transition sectors. Hennessy...
Equites and crytpo trading platform eToro has reportedly filed for a traditional IPO two-and-half years after nixing its SPAC combination and its renewed thrust to the public markets could provide a useful demonstration of where things sit for SPACs in 2025. For one, eToro is reportedly making its IPO move at a valuation of $5...
At the SPAC of Dawn Right on the heels of a mostly positive inflation picture, SPACs are set to take in a raft of new indicators for retail sales, import prices and homebuilder confidence later today. SPACs may have some extra confidence of their own knowing that one of their major foes on the de-SPAC...
At the SPAC of Dawn After an up-and-down week on the market, all eyes are set to be glued to this morning’s Consumer Price Index readouts for signs of where the Fed might take its rate-cut strategy. US exchanges had a slightly positive day in reaction to Core PPI coming in at 0.1% for December...
Ribbon Acquisition Corp. (NASDAQ:RIBBU) announced the pricing of its $50 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RIBBU”, Wednesday, January 15, 2025. The new SPAC intends to take a generalist approach in searching for a business combination, but will not consider targets located in China. Ribbon’s...