Mount Rainier Acquisition Corp. (Nasdaq: RNER) announced that it has completed its combination with confidential computing developer HUB Cyber Security at a special meeting held earlier today.
The SPAC’s shareholders already approved the deal at a meeting held in early January, but originally anticipated closing the deal later in the month. The combined company will now begin trading on the Nasdaq tomorrow, March 1, under the proposed symbols “HUBC” and “HUBCW,” respectively.
At Mount Rainier’s special meeting last month, its stockholders holding 2,660,436 shares of common stock elected to redeem their shares. These redemptions were in addition to the 14,535,798 shares that were tendered for redemption in connection with the special meeting held on December 21, leaving the SPAC with just 53,766 shares.
Mount Rainier announced its $1.2 billion deal with HUB Cyber Security in March 2022. The Tel Aviv-based company, founded by veterans of Israeli intelligence units, develops and markets computing solutions and services that aim to disrupt cybersecurity for enterprises and governments worldwide.
ADVISORS
- A-Labs Advisory & Finance Ltd. (“ALabs”) and Oppenheimer & Co. Inc. are serving as financial advisors to HUB
- ALabs is serving as sole placement agent for the PIPE.
- Latham & Watkins LLP and Pearl Cohen Zedek Latzer Baratz are serving as legal advisors to HUB.
- A.G.P./Alliance Global Partners is serving as the exclusive financial advisor to RNER.
- Loeb & Loeb LLP and Sullivan & Worcester LLP (Tel Aviv) are serving as legal advisors to RNER.
Berto Acquisition Corp. (NASDAQ:TACOU) announced the pricing of its upsized $261 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “TACOU”, Wednesday, April 30, 2025. The new SPAC aims to conduct a broad search for a target but will have a particular interest in artificial intelligence, wellness, longevity,...
Lakeshore Acquisition III Corp. (NASDAQ:LCCCU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “LCCCU”, Wednesday, April 30, 2025. The new SPAC aims to conduct a broad search for a target with a team that has previously closed business combinations in the...
Churchill Capital Corp X (NASDAQ:CCCXU) has filed for a $300 million SPAC with a broad search focus, to add to the portfolio of Churchill deals. Five Churchill deals have closed (I, II, III, IV, and AltC), while V, VI and VII liquidated in the SPAC downturn. However, keep in mind that the Churchill team still...
Black Hawk Acquisition Corp (NASDAQ:BKHA) has entered into a definitive agreement to combine with biotech firm Vesicor Therapeutics at a pre-money equity value of $70 million. San Gabriel, California-based Vesicor is developing treatments utilizing extracellular vesicles as both a therapy themselves and as a delivery system for other medicines. The combined company is expected to...
At the SPAC of Dawn SPAC activity has continued to heat up as the market now has a new business combination to digest alongside two new SPACs making their debut on the Nasdaq later today. Three more new SPACs have filed their initial S-1s to eventually join them. That makes 29 SPAC IPOs and 49...