HCM Acquisition Corp (NASDAQ:HCMA) announced in an 8-K that it would postpone its special meeting set for 10 am ET this morning to extend the company’s transaction deadline. The meeting will be held, if at all, at a later date to be determined by the board of directors of the Company.
The filing stated that the SPAC was taking additional time to engage with shareholders and seek to reverse their redemption decisions. HCM still has time to make its case as its deadline will not hit until April 25, 2023.
The extension on the ballot would extend this to October 25, 2023. HCM originally raised $293.3 million in its January 2022 IPO with 15 months on its clock. According to HCM’s proxy setting the vote, the SPAC will abandon the vote if redemptions would reduce its trust below 25%, or about $74 million.
HCM has not yet announced a definitive agreement, but it originally set out to identify businesses with disruptive technology in the financial services industry. Its current redemption rate is approximately $10.33 and it last closed at $10.36.
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...
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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...