Monterey Innovation (NASDAQ:MTRY) announced that it has adjourned today’s extension vote without conducting any business and will reconvene it at 11 am ET July 3.
The proposal on offer would allow Monterey’s relatively new management to extend the SPAC’s transaction deadline up to nine times by one month each up to April 5, 2024 by contributing $100,000 each month. Its existing deadline is coming up on July 5.
Back in March, Monterey’s initial sponsor transferred 478,125 promote shares to Chardan and 35,000 to each of three new Board nominees. A new team led by Chardan veterans Murat Omur and Sean McGann were then appointed as CEO and CFO, respectively.
The new pair of executives switched the SPAC’s focus from the biopharmaceutical space to disruptive technology targets and currently have about $20.4 million in its trust for the hunt after the SPAC experienced 82.4% redemptions in a September 2022 extension.
Plum Acquisition Corp. I (NASDAQ:PLMI) has entered into a definitive agreement to combine with digital transformation company Veea for a total enterprise value of approximately $281 million. New York City-based Veea aims to simplify secure edge computing by improving application responsiveness, reducing bandwidth and data transport costs, and eliminating central cloud dependency. The parties expect the transaction to be...
L Catterton Asia (NASDAQ:LCAA) announced this morning that it has upsized the committed financing in its combination with EV sports car maker Lotus to $870 million in total. The latest fuel injection comes in the form of $750 million in convertible notes and PIPE commitments under so far undisclosed terms. Counted purely as a PIPE,...
At the SPAC of Dawn SPAC closing timelines can always be somewhat unpredictable, but PROOF I (NYSE:PACI) has the opportunity today to vie for a recent speed record today. It announced a combination with private aviation firm Volato 118 days ago on August 2 and its shareholders are set to vote to approve the combination...
Dune Acquisition Corporation (NASDAQ:DUNE) announced in an 8-K today that it has once again modified its agreement with sustainable energy firm Global Hydrogen. This amendment marks a reduction in Global Hydrogen’s equity value from $48 million to $43 million, alongside an increase in the available shares of common stock that is for the Global Gas Corporation...
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