LatAmGrowth SPAC (NASDAQ:LATG) announced in a filing this morning that it will once adjourn its special meeting to liquidate early a second time and will reconvene it at October 5.
The proposals on its ballot would initiate the process of winding down the SPAC and return all trust capital to investors outside of $100,000 for dissolution expenses.
Despite officially asking its investors to close shop early, it appears to have automatically extended its deadline from September 27 to November 27 this week by contributing the lesser of $150,000 or $0.0375 per share to its trust.
That move and the continued delay suggest that LatAmGrowth may be in the process of negotiating a takeover of its sponsor economics with a new team. It still has about $58.6 million in its trust after seeing 56.9% of shares redeemed in an earlier extension.
At the SPAC of Dawn Though perhaps stuffed to the brim, SPAC activity continues this Thanksgiving Friday with votes by Clean Earth and Zalatoris to extend a deadline and amend trust contributions, respectively. At least seven de-SPACs are also reporting earnings today and will do so going into a futures market that is mostly green...
IB Acquisition Corp. submitted its S-1 filing Friday afternoon for a $100 million IPO, coming right on the heels of Bayview Acquisition Corp, which also filed its S-1 that day. IB is also similar to Bayview in that its units do not feature a warrant but include 1 right for 1/10. However, its trust is slightly...
Integrated Wellness (NYSE:WEL) announced in an 8-K filing that it agreed to transfer control of its sponsor to Sriram Associates, which will now take on the SPAC’s financial obligations and may appoint a new team. Sriram is acquiring 2,012,500 promote shares (70%) and 4,795,000 private placement warrants (70%) for the nominal purchase price of $1....
At the SPAC of Dawn So far, seven SPACs have announced their liquidations this week and although some others may choose to use the holiday to quietly disband, this tends to be a positive week for equities in general. Going back to 1961, the S&P 500 has ended the Thanksgiving week with gains three-quarters of...
Marti Technologies, Inc. (NYSE:MRT), which merged with Galata Acquisition Corp. in July, announced this afternoon that it has launched an exchange offer to purchase its Class A ordinary shares for $0.10 in cash. The company is also soliciting consents to amend the warrant agreement to redeem each warrant that is not tendered in connection with...