ROC Energy Acquisition Corp. (NASDAQ:ROC) announced in an 8-K today that its shareholders have approved its combination with oilfield services company Drilling Tools International (“DTI”) during a special meeting held on June 1.
At the meeting, holders of 23,008,929 shares of common stock were present in person or by proxy, representing approximately 85.69% of the voting power of the 26,851,000 issued and outstanding shares of common stock entitled to vote.
The business combination was approved with 19,282,780 shares voting in favor of the deal, but saw a slight pushback from holders of 3,726,149 shares.
ROC Energy did not provide a timeline for the closing of the deal, but the SPAC also held an extension meeting that same day where shareholders approved a proposal to extend the completion deadline from June 6 to August 6, composed of two one-month extensions. As a result, the sponsor, ROC Energy Holdings, LLC, will deposit into the trust account for each of the two one-month extensions $0.04 for each share not redeemed in connection with the proposal.
The SPAC originally inked its $319 million business combination with DTI earlier this year in February. ROC Energy brought about $209 million into the deal through its trust and supplemented this with a $45 million PIPE. Houston, Texas-based DTI manufactures and provides a differentiated, rental-focused offering of tools used for horizontal and directional drilling.
The combined company is expected to trade on the Nasdaq under the symbol “DTI” once the deal is completed.
Athena Consumer Acquisition Corp. (NYSE:ACAQ) announced this afternoon that its stockholders approved its combination with German EV-maker e.GO at a special meeting held earlier today. Additionally, Athena Consumer’s warrant proposal to convert all outstanding warrants to 0.175 shares in the combined company was also approved. A total of 884,880 shares of Athena Class A Common...
October is set to be a quiet month for lock-up expirations with only four de-SPACs and four sponsors now open to trade their shares for the first time. The first customer is Bitdeer Technologies. Its shareholders and the Blue Safari sponsor both stand to gain the most out of this group from moving some of...
Graf Acquisition Corp. IV (NYSE:GFOR) announced in an 8-K this afternoon that its shareholders approved its combination with NKGen Biotech at a special meeting September 25. A total of 3,386,528 shares were redeemed in connection with the vote, leaving Graf IV with about $27.6 million in the tank and a final redemption rate of 84.3%....
Anzu Special Acquisition Corp I (NASDAQ:ANZU) has closed its combination with Envoy Medical and its shares and warrants are to begin trading on the Nasdaq under the symbols “COCH” and “COCHW” on October 2. The SPAC secured shareholder approval on September 27 and still has not divulged redemption figures. But, it went into the vote...
Mercato Partners (NASDAQ:MPRA) closed its combination with Brazilian software firm Nuvini this afternoon and its shares and warrants are expected to begin trading on the Nasdaq under the symbols “NVNI” and “NVNIW” on October 2. The combined company will continue to be led by its existing CEO and a seven-member Board including Mercato CEO Dr....