The Growth for Good (NASDAQ:GFGD) announced this morning that it has added a $5 million PIPE to its combination with EV-maker ZeroNox with the participation of several strategic investors.
The PIPE is set at $10 per share, but The Growth for Good has not yet filed other terms. Investors include trailer and tractor-makers Premier and Kubota as well as Formula-E racing team NIO 333. ZeroNox CEO Vonn Christenson noted in the press release that these investments will come with ear-marked joint projects.
The Growth for Good also clarified that pulling together this PIPE was the primary reason the SPAC postponed its completion vote for the deal from August 18 to 10 am ET August 23. The Growth for Good could still push things out further as it has until September 14 to complete a deal under its current deadline.
The two sides initially struck their $306 million deal on March 8. Porterville, California-based ZeroNox manufactures electric drivetrains for a wide range of off-highway vehicles like golf carts, forklifts and all-terrain vehicles.
It generated $9.7 million in revenue in 2022 and has about $180 million-worth of revenue under contract for the coming years, including $26.3 million at the memorandum-of-understanding stage, according to a recent presentation.
Terms Tracker for the Week Ending September 22, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. SPACs finally saw two new S-1 filings this week, the first to file since August 24th. Hainan Sirius Acquisition Corp. filed first on Thursday and...
Latest SPAC Liquidations: LF Capital Acquisition Corp. II LF Capital Acquisition Corp. II (LFAC) to Liquidate on October 3, 2023 LF Capital Acquisition Corp. II (Nasdaq: LFAC), today announced that the directors of the Company have determined to dissolve and liquidate the Company. The redemption of the Public Shares is expected to be completed on...
Latest Non-Redemption Agreements: Yotta Acquisition Corp.,Live Oak Crestview Climate Acquisition Corp. Yotta Acquisition Corp. (YOTA) Adds Non-Redemption Agreements Yotta Acquisition Corp. (NASDAQ:YOTA) entered into non-redemption agreements with certain unaffiliated third parties in exchange for such third parties agreeing not to redeem an aggregate of 598,680 shares of the Company’s common stock. In exchange for the foregoing...
Twin Ridge (NYSE:TRCA) announced this afternoon that it plans to convene and then adjourn its extraordinary general meeting of its shareholders originally to be held on September 26 at 11:30 a.m., Eastern Time. Twin Ridge intends to hold the new meeting at 11:30 a.m., Eastern Time, on October 3, 2023. Additional details were not given as to...
Social Leverage Acquisition Corp I (Nasdaq: SLAC) and W3BCLOUD Holdings Inc. announced this afternoon that they have mutually agreed to terminate their business combination agreement. The reasons cited were once again “due to existing market conditions”, which most likely implies the current capital market conditions as well as the fact that W3BCLOUD works within the...