Progress Acquisition Corp. (NASDAQ:PGRW) announced that it adjourned today’s special meeting and will reconvene on April 26.
Earlier today, Progress held a special meeting where stockholders approved a proposal to adjourn the meeting to a later date to permit further solicitation of proxies for an extension proposal.
The SPAC currently has a deadline of May 8, but is looking to gain stockholder approval to extend this timeline to November 8. At the upcoming meeting, stockholders will also be voting on a proposal to provide holders of Class B common stock the right to convert their shares into Class A common stock on a one-for-one basis prior to the closing of a business combination.
Progress announced the pricing of its upsized $150 million IPO in February 2021, but saw 95.48% of its trust redeemed in an October 2022 meeting, leaving the SPAC with just $7.83 million in its trust post-vote.
The company is still searching for a target, but aims to combine with a digital media, entertainment and technology company with a low-churn subscription model. Progress is led by CEO Warren Schlichting, CFO Richard Gallagher and President David Arslanian.
Exciting new things are coming for SPACInsider subscribers, and some have already arrived! This summer, SPACInsider is unveiling the SPACInsider Alerts App on iOS with an Android launch soon to follow. The app allows subscribers to stay ahead of the SPAC market with real-time, customizable filing alerts with instant notifications landing the moment that a...
At the SPAC of Dawn Futures are largely green with the CPI reading coming up, and several SPACs and de-SPACs have cause to feel bullish regardless of what the reading states. Pharma and beauty company Longevity Health (NASDAQ:XAGE) announced it will acquire plasma collection firm True Health ahead of market open in news that has...
Silver Pegasus Acquisition Corp. (NASDAQ:SPEGU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SPEGU”, Tuesday, July 15, 2025. The new SPAC plans to search within the technology sector, with a focus on semiconductors and systems solutions. Silver Pegasus Acquisition Corp.’s management...
Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...