Atlantic Coastal Acquisition Corp. II (NASDAQ:ACAB) announced that it adjourned today’s extension vote, without conducting any business, and will reconvene at 9:30 a.m. ET on April 18.
In connection with the adjournment of the meeting, ACAB is also extending the redemption deadline to April 14.
The SPAC announced the pricing of its upsized $261 million IPO in January 2022, but has not found a target to combine with just yet. Atlantic Coastal II hopes to identify a business in the next-generation mobility sector or other related technology sectors.
It is currently facing a completion deadline of April 19, but intends to gain shareholder approval at its upcoming meeting to extend its timeline until October 19.
Earlier this month, ACAB entered into a non-redemption agreement with several unaffiliated third parties in exchange for them agreeing not to redeem an unknown amount of shares.
Rice II (NYSE: RONI) announced in an 8-K today that its shareholders have approved its combination with energy technology company NET Power with relatively low redemptions. In the end, 21,195,224 shares were redeemed in connection vote, removing 61% of Rice II’s trust. This is the second best result among the 32 deals that have come...
Trajectory Alpha (NYSE:TCOA) announced in an 8-K this morning that it has opted to postpone its June 8 extension vote to June 12 at 10 am ET. The SPAC will use this extra time to engage with shareholders at work to reverse redemption decisions. Trajectory Alpha’s team may still be getting acquainted with some major...
Tracking SPACs and all of their various types of “corporate actions” can be challenging. After all, a SPAC can postpone, adjourn, extend, complete, liquidate early, do a tender offer, and in some cases, one SPAC do all of those actions within its lifespan. Naturally, this can be challenging to manage. More importantly, it can very...
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Avalon Acquisition Inc. (NASDAQ:AVAC) announced in an 8-K this morning that it has entered into a prepaid forward purchase agreement with RiverNorth SPAC Arbitrage Fund, the purchaser, as it works to close its combination with financial services firm The Beneficient Company, or Ben. As part of the agreement, RiverNorth agreed to effect certain purchases of shares...