Papaya Growth Opportunity Corp. I (NASDAQ:PPYA) announced in an 8-K this morning that it plans to postpone its upcoming special meeting from 11 am ET this morning to the same time August 30.
Shareholders at the meeting are to vote on proposals to allow Papaya Growth I to extend its transaction deadline up to four months from October 19 to February 19, 2024 in exchange for contributing the lesser of $325,000 or $0.325 per share to its trust for each month.
The SPAC also has proposals on the ballot to eliminate an earlier restriction that would have limited total redemptions from reducing its trust below $5 million. Papaya Growth I’s sponsor has also requested the right to exchange promote shares for Class A shares on a one-to-one basis.
Papaya Growth I has not yet announced a business combination, but raised $293.3 million in its January 2022 IPO and has seen that so far reduced to $102.5 million after 65.7% of shares were redeemed in an April vote.
Its team has experience in investing in high-growth tech businesses and it stated in its initial S-1 that it hoped to identify a target with clear business moats, a large market and ESG qualities.
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....
1RT Acquisition Corp. (NASDAQ:ONCHU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ONCHU”, Wednesday, July 2, 2025. The new SPAC plans to target company in the digital asset ecosystem involved in the creation, storage, exchange or management of such assets, whether...