Banyan Acquisition Corporation (NYSE: BYN.U) announced this afternoon that it intends to adjourn its extension vote, originally scheduled to be held on April 18, and will reconvene at 10:00 a.m. ET on April 21.
In connection with the adjournment of the meeting, Banyan has also pushed back the redemption deadline until April 19.
As of now, the SPAC faces a completion deadline of April 24, but is hoping to gain shareholder approval to extend its timeline to December 24.
Within the past month, Banyan has entered into multiple non-redemption agreements with several unaffiliated third parties in exchange for the investors agreeing not to redeem a total of 4,000,000 shares. These agreements are expected to increase the amount of funds that remain in the company’s trust following the extension meeting.
It announced the pricing of its upsized $210 million IPO in January 2022. Although Banyan has not found a target to combine with just yet, it intends to focus its search on iconic brands or established platforms in the foodservice industry that are leaders in their respective categories.
Trajectory Alpha Acquisition Corp. (NYSE:TCOA) announced this afternoon that it has entered into a purchase and contribution agreement with its sponsor and J. Streicher Holdings, LLC. As a result, the SPAC will undergo a change in management. As part of the agreement, J. Streicher will pay $250,000 to Trajectory Alpha and $1.00 to the sponsor. In return,...
Latest SPAC Liquidations: Sound Point I, Bullpen Parlay, and Zimmer Energy Transition Sound Point Acquisition Corp I (SPCM) to Liquidate on June 4 Sound Point Acquisition Corp I, Ltd (NASDAQ: SPCM) announced today that it intends to liquidate and dissolve, effective as of June 4, 2023, and will redeem all of the outstanding Class A...
Latest Non-Redemption Agreements: GSR II Meteora Acquisition Corp. GSR II Meteora Acquisition Corporation (GSRM) Adds Non-Redemption Agreement On May 31, 2023, GSR II Meteora Acquisition Corp., (NASDAQ:GSRM), entered into certain non-redemption agreements with certain third parties in connection with the special meeting of stockholders. Pursuant to such Non-Redemption Agreements, each Non-Redeeming Stockholder agreed that it will...
Athena Technology Acquisition Corp. II (NYSE:ATEK) announced this afternoon that it is postponing its extension vote scheduled for June 12 until June 13. Shareholders at the special meeting are to vote on a proposal to allow Athena Technology II to extend its transaction deadline on a monthly basis up to nine times from June 14,...
Clover Leaf Capital Corp. (NASDAQ: CLOE) has entered into a definitive agreement to combine with Digital Ally, Inc.’s (NASDAQ: DGLY) ticketing platform Kustom Entertainment at a pro forma equity value of approximately $222.2 million. Kansas City, Kansas-based Kustom Entertainment is a primary and secondary ticket platform that manages wholly-owned subsidiaries TicketSmarter and Kustom 440. Transaction Overview Clover...