SPACInsider Logo
Kingswood Acquisition Corp. (KWAC) Adjourns Extension Vote Again
by Marlena Haddad on 2022-11-18 at 9:56am

Kingswood Acquisition Corp. (NYSE:KWAC) announced yesterday afternoon that it is once again adjourning its special meeting.

The SPAC originally adjourned its special meeting on November 15, to November 18, and will now be adjourning the meeting again from November 18, to November 23.

Similar to Digital World (NASDAQ:DWAC), Kingswood is still having difficulties soliciting enough votes for the approval to extend its deadline to May 24, 2023 and will need more time to do so. If approved, the amendment would provide the company with an additional six months to complete its proposed merger.

In connection with the adjourned date, KWAC has also further extended the deadline for holders of the company’s common stock to submit their shares for redemption to November 21.  KWAC plans to continue to solicit proxies for the meeting until November 23.

Kingswood announced its $208 million combination with broker-dealer aggregator Wentworth Management Services LLC on July 8, 2022. New York City-based Wentworth Management Services LLC specializes in consolidating independent broker-dealers to capture economies of scale needed. It and Kingswood are to become wholly-owned subsidiaries of Binah Capital Group as a part of transaction.

 

Recent Posts
by Marlena Haddad on 2022-12-08 at 5:35pm

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC Liquidations: Sierra Lake, Z-Work, Lerer Hippeau, and Climate Real Impact Solutions II Sierra Lake Acquisition Corp. Shareholders Approve Liquidation   Sierra Lake Acquisition Corp. (NASDAQ: SIER) announced today that due to its inability to...

by Nicholas Alan Clayton on 2022-12-08 at 2:28pm

Parsec Capital (NASDAQ:PCX) announced in an 8-K this morning that it has begun the process of liquidating its trust account, but the filing also curiously notes that the team is trying to carry on with its announced combination with Enteractive Media. The announcement matches what the SPAC said in its 10-Q filed November 18, that...

by Marlena Haddad on 2022-12-08 at 12:56am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Palihapitiya blames Fed for crushing the blank-check bubble, and Hong Kong is set to regain top-three IPO ranking in 2022 SPAC king Chamath Palihapitiya says the Fed crushed the bubble in blank-check firms...

by Marlena Haddad on 2022-12-08 at 12:50am

PHP Ventures Acquisition Corp. (NASDAQ: PPHP) has entered into a definitive agreement to combine with ConstrucTech company Modulex Modular Buildings Plc (“Modulex”) at a valuation of $600 million. UK-based Modulex manufactures 3D volumetric steel modular buildings and harnesses emerging technologies to meet housing and infrastructure needs. The combined company is expected to trade on the...

by Nicholas Alan Clayton on 2022-12-08 at 11:53am

7GC & Co.  (NASDAQ:VII) has entered into a definitive agreement to combine with video engagement platform Banzai at an enterprise value of $380 million, or 17.3x its revenue in the 12 months ending in September 2022. Bainbridge Island, Washington-based Banzai provides a suite of virtual event management and analytical tools through a software-as-a-surface (SaaS) model....

Privacy Policy|Terms Of Use
Copyright © 2022 SPACInsider, Inc. All Rights Reserved