HPX Corp. (HPX) Shareholders Approve Ambipar Response Deal
by Marlena Haddad on 2023-02-28 at 5:58pm

HPX Corp. (NYSE:HPX) announced its shareholders have approved its combination with environmental and industrial solutions provider Ambipar Response at a special meeting held earlier today.

The deal was overwhelmingly approved as it received 7,133,547 votes in favor of the transaction and just 125,508 against it.

In connection with the shareholder vote, HPX’s shareholders holding 1,258,439 Class A ordinary shares, representing 96.37% of the SPAC’s trust, validly elected to redeem their public shares. HPX is now left with 918,105 shares remaining.

Nonetheless, the transaction is now expected to close on or around March 3, subject to the satisfaction or waiver of the conditions with respect to the deal. The combined company’s shares are to trade on the NYSE under the symbol “AMBI” once the deal is completed.

HPX announced its $581 million deal with Ambipar Response in July 2022. The SPAC originally brought about $247 million into the deal from its current trust supplemented by a PIPE and backstop agreements amounting to $168 million. The company is a subsidiary of the Sao Paulo-listed Ambipar Group (SA:AMBP3) that provides environmental clean-up and rescue services for industrial clients in the Americas and Europe.


ADVISORS

  • Bank of America Merrill Lynch Banco Múltiplo S.A. is serving as financial advisor to Ambipar Response and Ambipar Group
  • BofA Securities, Inc. is serving as the placement agent in connection with the PIPE offering.
  • Simpson Thacher & Bartlett LLP is serving as U.S. legal advisor to Ambipar Response and Ambipar Group
  • Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados is serving as Brazilian legal advisor to Ambipar Response and Ambipar Group.
  • Skadden, Arps, Slate, Meagher & Flom LLP is serving as U.S. legal advisor to HPX
  • Greenberg Traurig, LLP is serving as legal advisor on certain international diligence matters for HPX and BRZ Advogados as legal advisor on Brazilian matters.
  • Shearman & Sterling LLP is acting as legal advisor to BofA Securities, Inc. in its capacity as the placement agent.
HPX Corp. (HPX) Shareholders Approve Ambipar Response Deal
Recent Posts
by Kristi Marvin on 2025-07-12 at 10:02am

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...

by Nicholas Alan Clayton on 2025-07-11 at 8:24am

At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...

by Kristi Marvin on 2025-07-10 at 8:31am

A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...

by Nicholas Alan Clayton on 2025-07-10 at 8:27am

At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...

by Nicholas Alan Clayton on 2025-07-09 at 12:57pm

Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved