Hennessy Capital Investment Corp VI (NASDAQ:HCVI) announced in an 8-K filing this morning that it will push its September 27 extension vote to 9 am ET September 29.
Shareholders will now have until 5 pm ET September 27 to make their final redemption decisions and owners of 132,398 shares have decided to stay in as a part of a non-redemption agreement Hennessy VI also announced in the filing.
This third party investor will receive 9,735 promote shares in exchange for this commitment. The SPAC has not yet announced a definitive agreement and is seeking to extend its deadline to January 10, 2024 without contributing additional funds to its trust.
The Hennessy team has taken over both two (NYSE:TWOA) and Compass Digital (NASDAQ:CDAQ) in transactions for their existing sponsor economics this year, but Hennessy VI is a vehicle that the group launched on their own in 2021.
This SPAC is seeking to combine with a target valued at over $1 billion with a large addressable market and strong management.
Mobiv Acquisition Corp. (NASDAQ:MOBV) announced this afternoon that it has closed its combination with EV motorcycle-maker SRIVARU. Shareholders originally approved the deal at a special meeting held back on September 28, but at that time, the parties expected the transaction to take just a week to close. Redemptions whittled Mobiv’s IPO share pool of 10,005,000 down...
Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the...
EF Hutton Acquisition Corp. I (NASDAQ:EFHT) announced this morning that its shareholders have approved its business combination with E.C.D. Auto Design. At the meeting, there were 5,089,203 shares of common stock, representing approximately 76.82% of the issued and outstanding shares of common stock, present. In connection with the meeting, the company’s stockholders holding 3,470,945 shares,...
Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...
At the SPAC of Dawn This week ends with an unusually busy earnings calendar as 172 US-listed companies report quarterly figures today. Among them is Exela Technologies (NASDSAQ:XELA), which completed a combination with Quinpario 2 in 2017. The billing software company has gone on to do another SPAC deal on November 29, this time spinning...