Northern Revival Acquisition Corp. (NRAC) Adjourns Extension Vote
by Marlena Haddad on 2023-08-30 at 5:44pm

Northern Revival Acquisition Corp. (NASDAQ:NRAC) announced this afternoon that it adjourned today’s vote for a proposal to extend its completion deadline.

The SPAC stated that the meeting was adjourned due to technical difficulties with telephone connectivity and will be reconvened on August 31, at 2:00 p.m. ET.

As of now, Northern Revival faces a completion deadline of September 4, but is hoping to gain shareholder approval tomorrow to extend this by five months to February 4, 2024

Northern Revival inked its $190 million deal with Braiin earlier this year in March. Northern Revival has about $25 million in its current trust after experiencing 89.7% redemptions thus far, but it plans to supplement this with a $15 million PIPE and $20 million in new debt. The SPAC is also funding the deal with a forward purchase agreement by Meteora Capital Partners and affiliates to purchase up to 2,500,000 shares.

Subiaco, Australia-based Braiin provides a range of software and hardware services to farmers designed to improve crop yields in Australia and the Asia Pacific region.


Recent Posts
by Nicholas Alan Clayton on 2023-10-02 at 11:28am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Shell company Vertex Tech to buy streaming platform in landmark deal for Singapore Singapore’s Vertex Technology Acquisition Corp (VTAC) (VERT.SI) will buy live streaming platform 17LIVE Inc for up to S$925.1 million ($676 million), the special purpose...

by Nicholas Alan Clayton on 2023-10-02 at 9:18am

Graf Acquisition Corp. IV (NYSE:GFOR) has closed its combination with NKGen Biotech and its shares and warrants will begin trading on the Nasdaq under the symbols “NKGN” and “NKGNW” today. The SPAC secured shareholder approval for the deal last week with 84.3% redemptions. Graf IV CEO James Graf is set to join the combined company...

by Kristi Marvin on 2023-09-30 at 1:50pm

An In-Depth Look at SPAC Activity Throughout the Third Quarter of 2023 Below is a summary of the year-to-date SPAC performance. We’re now three-quarters of the way through 2023 and while activity remains muted, there is a sense that SPACs have run the most difficult part of the “correction” gauntlet and have reached a better...

by Kristi Marvin on 2023-09-30 at 11:45am

Terms Tracker for the Week Ending September 29, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As September comes to a close, SPACs did not price any IPOs during the month with the most recent IPO (99 Acquisition Group) having priced...

by Kristi Marvin on 2023-09-29 at 5:48pm

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...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved