Plum Acquisition Corp. I (PLMI) Hops Back in the Saddle
by Nicholas Alan Clayton on 2023-06-16 at 10:32am

Plum I (NASDAQ:PLMI) announced in an 8-K this morning that it was reversing its decision to liquidate on June 18, and will instead hunt for a target for at least one more month, extending its deadline to July 18.

On June 15, the SPAC announced both terminating its previously announced combination with additive manufacturing battery company Sakuu and would head to liquidation rather than extend.  But, according to its filing, on this same day it was approached and brought back from the brink by the opportunity to explore a new deal. The cost to extend one month will be a $160,000 contribution to trust.

It provided no other details on this deal, but Plum I, which was underwritten by Goldman Sachs (NYSE:GS) in its 2021 IPO, still has $53.4 million in its trust and can automatically extend monthly up to March 18, 2024. So, it has time on its side as well.

Recent Posts
by Nicholas Alan Clayton on 2023-09-27 at 5:31pm

GigCapital 5, Inc. (GIA) Signs Non-Redemption Agreements GigCapital 5 (NASDAQ:GIA) announced in an 8-K this morning that it has entered non-redemption agreements with third parties that will secure up to 2,042,903 shares from redemption. One of these third parties is Meteora Capital Partners and the investors have made this commitment with the caveat that none...

by Kristi Marvin on 2023-09-27 at 4:28pm

Anzu Special Acquisition Corp I (NASDAQ:ANZU) announced this afternoon that its stockholders voted in favor of the proposed business combination with Envoy Medical Corporation (“Envoy”), held earlier today. Details on the vote, along with redemption numbers, have not been filed yet, but the Company expects the business combination to be consummated on September 29, 2023....

by Nicholas Alan Clayton on 2023-09-27 at 11:30am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Pinstripes Expands Senior Leadership Team, Hires Chief Financial Officer and Chief Marketing Officer in Advance of Public Listing Pinstripes, Inc, a best-in-class experiential dining and entertainment brand combining bistro, bowling, bocce and private event space, today announced...

by Nicholas Alan Clayton on 2023-09-27 at 11:09am

Athena Consumer Acquisition Corp. (NYSE: ACAQ) announced this morning that it plans to again adjourn its September 28 special meeting to approve its combination with German EV-maker e.GO without conducting business and will reconvene it at 4 pm ET September 29. The SPAC’s warrant holders are also to vote at at a meeting 30 minutes...

by Nicholas Alan Clayton on 2023-09-27 at 9:02am

Integrated Wellness (NYSE:WEL) announced this morning that it has nixed its combination with vending machine operator Refreshing USA due to conditions of the combination remaining unfulfilled. The SPAC did not elaborate on what conditions those were, but the two sides have been past their initial outside date since July 31. Integrated Wellness still plans to...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved