Alpha Partners Technology Merger Corp. (APTM) Adjourns Extension Vote
by Marlena Haddad on 2023-07-24 at 5:19pm

Alpha Partners Technology Merger Corp. (NASDAQ:APTM) announced in a filing this afternoon that it plans to adjourn its special shareholder meeting, originally scheduled for July 25, until July 27.

The SPAC plans to open the meeting as scheduled tomorrow at 11:00 a.m. ET, subject to the consent of the shareholders constituting a quorum, but will then immediately adjourn the meeting.

At the rescheduled meeting, shareholders will cast their votes on a proposal to extend APTM’s completion deadline by an entire year up to July 30, 2024, and to allow the SPAC, without the need for another shareholder vote, to extend the deadline on a monthly basis, for up to twelve times, by an additional one month each time, by resolution of the board of directors.

Additionally, Alpha Partners Technology is making amendments to the disclosures in the proxy statement due to a typographical error. In Proposal No. 1, there were two instances referring to “24 months”, which should have correctly stated “36 months” to align with the proposed extension of the completion date. To rectify this, all occurrences of “24 months” in Proposal No. 1 shall be considered as “36 months” to properly reflect the intended extension.

At the meeting, shareholders will also have a non-binding letter of intent (LOI) to consider with 3D printing firm Glowforge, which was signed just last week. The SPAC has thus far released no other details on the proposed merger beyond that Glowforge’s existing shareholders would be expected to roll 100% of their equity into the combined entity.

Founded in 2015, Glowforge produces 3D laser printers capable of engraving digital designs on a wide variety of materials. These are priced at $4,995 to $6,995, targeting a clientele of high-end hobbyists and small businesses, but likely not high-volume manufacturers.

Alpha Partners Technology Merger Corp. announced the pricing of its $250 million IPO in July 2021. It initially set out to combine with a late-stage software or information technology target that serves a large industry or multiple industries with a platform or marketplace. Alpha Partners Technology Merger is led by CEO Matt Krna, CFO Sean O’Brien, and Board Chair Michael D. Ryan.


Recent Posts
by Nicholas Alan Clayton on 2023-12-11 at 7:57am

At the SPAC of Dawn This week is set to see SPACs rush to tie up business combinations nicely in a bow before the final two weeks of the year. Eight SPACs currently have completion votes on the docket this week, while there are currently just four more booked for the rest of 2023. Eight...

by Marlena Haddad on 2023-12-11 at 7:52am

SportsMap Tech Acquisition Corp. (NASDAQ:SMAP) announced this morning that its shareholders approved its business combination with intelligent thermal imaging provider Infrared Cameras Holdings (ICI) during a special meeting on December 8. A total of 3,829,673 shares of the common stock, representing approximately 73.86% of the issued and outstanding shares, were present at the meeting, constituting...

by Kristi Marvin on 2023-12-09 at 11:45am

Terms Tracker for the Week Ending December 8, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Well that escalated quickly. While last week was quiet, this week was far busier. SPACs saw one IPO start trading after pricing on Friday of...

by Marlena Haddad on 2023-12-08 at 1:59pm

Mobiv Acquisition Corp. (NASDAQ:MOBV) announced this afternoon that it has closed its combination with EV motorcycle-maker SRIVARU. Shareholders originally approved the deal at a special meeting held back on September 28, but at that time, the parties expected the transaction to take just a week to close. Redemptions whittled Mobiv’s IPO share pool of 10,005,000 down...

by Nicholas Alan Clayton on 2023-12-08 at 11:12am

Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved