Hainan Manaslu Acquisition Corp. (NASDAQ:HMAC) announced in an 8-K this afternoon that its shareholders approved its combination with brand management company Able View at a special meeting held on August 2.
At the meeting, there were 7,295,963 ordinary shares representing approximately 81.37% of the issued and outstanding ordinary shares present, constituting a quorum.
The deal received overwhelming approval with holders representing 7,003,776 shares voting in favor of the business combination, while holders of only 292,187 shares voted against it.
In connection with the shareholders’ vote at the meeting, 6,766,651 ordinary shares were tendered for redemption, representing 98.07% of HMAC’s trust. The SPAC is now left with $1.38 million following the vote.
Nonetheless, Hainan Manaslu plans to close the business combination as soon as possible and will continue to accept reversal of redemption requests until closing. Once the deal is completed, the combined company is expected to trade on the Nasdaq.
The SPAC inked its $400 million business combination with Able View in November 2022. Shanghai-based Able View is a cross-border brand management company focusing on beauty and personal care segments.
All other proposals on the ballot, including the NTA Requirement Amendment Proposal, the Charter Proposal, and the Equity Incentive Plan Proposal, were also approved with minimal pushback from shareholders.
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...
This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...
At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...