Frontier Investment Corp. (NASDAQ: FICV) announced this afternoon that its chairman has decided to adjourn its special meeting, originally scheduled to be held on June 16, until June 22.
As a result of the postponement, the redemption deadline will also be extended until June 20.
Frontier Investment Corp. currently has until July 6, 2023, to complete a business combination, but is hoping to gain shareholder approval at its upcoming meeting to extend its timeline by a year until July 6, 2024.
Shareholders will also vote on proposals to remove the net tangible asset requirement and to provide the right of a holder of the company’s Class B ordinary shares to convert into Class A ordinary shares on a one-for-one basis at any time. If the net tangible asset requirement proposal is not approved, then the SPAC will not proceed with the extension.
Frontier priced its $200 million IPO in July 2021. It still has not found a target to combine with, but aims to identify a business that has operations in the technology, digital media, e-commerce, financial technology, or digital services sectors, across the high growth markets of the Middle East North Africa & Turkey, Sub-Saharan Africa, South Asia, and Southeast Asia. Frontier is led by CEO and Chairman Asar Mashkoor, and CFO Arif Mansuri.
Athena Consumer Acquisition Corp. (NYSE:ACAQ) announced this afternoon that its stockholders approved its combination with German EV-maker e.GO at a special meeting held earlier today. Additionally, Athena Consumer’s warrant proposal to convert all outstanding warrants to 0.175 shares in the combined company was also approved. A total of 884,880 shares of Athena Class A Common...
October is set to be a quiet month for lock-up expirations with only four de-SPACs and four sponsors now open to trade their shares for the first time. The first customer is Bitdeer Technologies. Its shareholders and the Blue Safari sponsor both stand to gain the most out of this group from moving some of...
Graf Acquisition Corp. IV (NYSE:GFOR) announced in an 8-K this afternoon that its shareholders approved its combination with NKGen Biotech at a special meeting September 25. A total of 3,386,528 shares were redeemed in connection with the vote, leaving Graf IV with about $27.6 million in the tank and a final redemption rate of 84.3%....
Anzu Special Acquisition Corp I (NASDAQ:ANZU) has closed its combination with Envoy Medical and its shares and warrants are to begin trading on the Nasdaq under the symbols “COCH” and “COCHW” on October 2. The SPAC secured shareholder approval on September 27 and still has not divulged redemption figures. But, it went into the vote...
Mercato Partners (NASDAQ:MPRA) closed its combination with Brazilian software firm Nuvini this afternoon and its shares and warrants are expected to begin trading on the Nasdaq under the symbols “NVNI” and “NVNIW” on October 2. The combined company will continue to be led by its existing CEO and a seven-member Board including Mercato CEO Dr....