7GC & Co. Holdings Inc. (NASDAQ:VII) announced this afternoon that it has postponed tomorrow’s extension vote to 3:00 p.m. E.T. on December 21.
In connection with the change, the company has further extended the deadline for holders of the Company’s Class A common stock to submit their shares for redemption in connection with the extension to 5:00 p.m. E.T. on December 20. Stockholders who wish to withdraw their previously submitted redemption request may do so prior to the meeting.
Additionally, in an effort to mitigate uncertainty surrounding the implementation of the Inflation Reduction Act, VII’s sponsor will reimburse the company against any excise tax liabilities with respect to any future redemptions that occur after December 31, 2022 and prior to or in connection with a business combination or liquidation.
If VII obtains stockholder approval for its extension, it will maintain the remaining amount in its trust account in an interest-bearing demand deposit account at a bank. The sponsor has agreed to deposit the lesser of an aggregate of $900,000 or $0.18 per share that remains outstanding and is not redeemed in connection with the extension plus the lesser of an aggregate of $300,000 or $0.06 per share that remains outstanding and is not redeemed for each of the three subsequent calendar months starting on March 29, 2023.
Earlier this month, VII entered into a definitive agreement to combine with video engagement platform Banzai at an enterprise value of $380 million. Bainbridge Island, Washington-based Banzai provides a suite of virtual event management and analytical tools through a software-as-a-surface (SaaS) model.
Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...
This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...
At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...