Prime Impact I (NYSE:PIAI) announced in an 8-K this morning that it has postponed its upcoming extension vote slated for today to noon ET March 8.
Shareholders now have until 5 pm ET March 6 to make their redemption decisions and as of the last deadline, 2,725,066 shares had been tendered for redemption. This would remove about $27.8 million from the estimated $69 million Prime Impact I has remaining in its trust.
With the postponement, Prime Impact I will have more time to engage with investors about its recently announced business combination, however.
On January 30, the SPAC announced an $841 million deal with Cheche Technology. Beijing-based Cheche provides a digital insurance platform for car owners in China with about 34 million vehicles covered.
The extension would bump Prime Impact I’s transaction deadline from March 14 to April 14 in exchange for a contribution of the lesser of $210,000 or $0.035 per unredeemed share and allow the sponsor to automatically extend up to five more times in one-month increments. These further extensions would require a contribution of the lesser of $1.05 million or $0.175 per share.
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....
1RT Acquisition Corp. (NASDAQ:ONCHU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ONCHU”, Wednesday, July 2, 2025. The new SPAC plans to target company in the digital asset ecosystem involved in the creation, storage, exchange or management of such assets, whether...
D. Boral ARC Acquisition II Corp. (NASDAQ:ARBCU) has filed for a $250 million SPAC to give underwriter D. Boral a second in-house SPAC to pursue deals with. The new SPAC offers investors a 1/2 warrant and an initial 18-month time frame to complete a deal. D. Boral II’s sponsor may automatically extend this once by...
Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...