Worldwide Webb Acquisition Corp. (WWAC) Completes Aeries Technology Deal
by Marlena Haddad on 2023-11-07 at 9:17am

Worldwide Webb Acquisition Corp. (NASDAQ:WWAC) announced this morning that as anticipated, it completed its business combination with Aeries Technology on November 6.

Shareholders already approved the deal at a meeting held on November 2, and saw 92.47% of its trust redeemed, leaving the SPAC with an estimated $18.5 million post-vote.

Prior to closing, the SPAC expanded its forward-purchase agreement and non-redemption financing where Meteora Capital agreed to purchase up to 250,000 shares under the same terms as those already struck with Sea Otter Trading, Sandia Investment and YA II, who themselves signed on for up to 3,000,000.

Aeries is also in discussions to raise further capital based on indicative terms sheets to execute on its previously announced organic growth and M&A strategy.

Starting November 8, the ordinary shares and warrants of the combined company will be listed on The Nasdaq under the symbols “AERT” and “AERTW”, respectively.

The two sides originally inked their $656 million business combination back in March. Mumbai-based Aeries provides outsourcing and offshoring business services for companies, frequently in tandem with private equity partners.

Worldwide Webb Acquisition Corp. (WWAC) Completes Aeries Technology Deal
Recent Posts
by Nicholas Alan Clayton on 2025-07-17 at 12:54pm

Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...

by Nicholas Alan Clayton on 2025-07-17 at 8:29am

At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...

by Kristi Marvin on 2025-07-16 at 5:33pm

Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...

by Nicholas Alan Clayton on 2025-07-16 at 8:18am

At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...

by Nicholas Alan Clayton on 2025-07-15 at 7:20pm

Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved