DHC Acquisition Corp (NASDAQ:DHCA) announced in an 8-K this morning that it has come to agreements with one or more investors to not redeem 400,000 shares.
If these investors still hold these shares through the SPAC’s March 3 extension vote, they will receive 150,000 promote shares (1.9%) once DHC has consummated a business combination.
DHC does not currently have a definitive agreement in hand, but in January it terminated a troubled deal with GloriFi. At the upcoming vote, shareholders will consider a proposal to extend its deadline to December 4.
The SPAC’s sponsor has not yet offered a contribution to its trust in connection with the extension and its estimated redemption rate currently sits at $10.14.
It raised $309.5 million in its 2021 IPO and is led by Co-CEO Christopher Gaertner, who also serves as vice chairman and global head of technology investment banking at Rothschild & Co, and Co-CEO Thomas Morgan, who is the CEO of advisory firm Corps Capital.
Trailblazer Merger Corporation I priced its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “TBMCU” Wednesday, March 29, 2023. The SPAC intends to focus its search on companies operating in the technology industry in the following segments: cloud as a service, supply chain technologies, servicing the hybrid workforce...
Alpine (NYSE:REVE) announced this afternoon that it has again adjourned its special meeting to complete its transaction with experiential entertainment company Two Bit Circus. The SPAC originally intended to hold its special meeting on February 24, but has adjourned it four times since then. Alpine now expects to reconvene the meeting on March 30 at 12:00 p.m....
Home Plate Acquisition Corporation (NASDAQ:HPLT) announced that it adjourned its extension vote today and will reconvene the special meeting at 10:30 am ET on March 30. At the upcoming meeting, the SPAC hopes to gain shareholder approval to extend its completion deadline from April 4, 2023, to October 4, 2023. Home Plate announced a $214 million business combination with...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Ares considers raising $400M for new SPAC and electric air mobility division of AIRO and Kernel Group sign MOU with Blade India Ares Considers New $400 Million SPAC Despite Market Lull Ares Management Corp....
DiamondHead Holding Corps. (NASDAQ:DHHC) announced in an 8-K this morning that it has entered into subscription agreements with lock-up investors and PIPE investors in connection to its business combination with Great Southern Homes. Although the deal was approved by shareholders during a meeting last Thursday, the parties are still working to raise funds to meet...