The Growth for Good (NASDAQ:GFGD) announced this morning that it has added a $5 million PIPE to its combination with EV-maker ZeroNox with the participation of several strategic investors.
The PIPE is set at $10 per share, but The Growth for Good has not yet filed other terms. Investors include trailer and tractor-makers Premier and Kubota as well as Formula-E racing team NIO 333. ZeroNox CEO Vonn Christenson noted in the press release that these investments will come with ear-marked joint projects.
The Growth for Good also clarified that pulling together this PIPE was the primary reason the SPAC postponed its completion vote for the deal from August 18 to 10 am ET August 23. The Growth for Good could still push things out further as it has until September 14 to complete a deal under its current deadline.
The two sides initially struck their $306 million deal on March 8. Porterville, California-based ZeroNox manufactures electric drivetrains for a wide range of off-highway vehicles like golf carts, forklifts and all-terrain vehicles.
It generated $9.7 million in revenue in 2022 and has about $180 million-worth of revenue under contract for the coming years, including $26.3 million at the memorandum-of-understanding stage, according to a recent presentation.
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...
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....
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...
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...
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...