M3-Brigade Acquisiition II Corp. (NYSE:MBAC) announced that it is pushing its extension vote from December 19 to December 23 at 9:30 am ET.
The SPAC is seeking a full-year extension from its existing deadline of March 8, 2023 to March 8, 2024 and is attempting to give shareholders more time to potentially reverse redemption decisions.
M3-Brigade II does not currently have a definitive agreement in hand, but previously announced a $2.8 billion combination with Syniverse in 2021, which was later terminated in February 2022. The record date for M3-Brigade II shareholders remains December 5.
M3-Brigade II IPO’d in March 2021 and originally had 24 months on its clock. Shareholders are also to vote on proposals to allow the SPAC to release accrued interest from the trust to pay for working capital expenses and potentially pay the new 1% excise tax on buybacks, should it apply to redemptions.
Aimfinity Investment Corp. I (NASDAQ:AIMA) announced this afternoon that its sponsor entered into a repurchase agreement with previous directors and officers of the company and will undergo a change in management. On March 16, Aimfinity’s sponsor initiated a distribution of 300,000 founder shares and 492,000 private placement units to its existing members and entered into a repurchase...
AI Transportation Acquisition Corp. (NASDAQ:AITR) filed its S-1 last Wednesday afternoon for a $50 million IPO, marking the first SPAC to file for an IPO in March. While the new company may pursue a target in any industry, it intends to focus its search in the transportation field, including but not limited to logistics, new energy...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Virgin Orbit plans for insolvency amid rescue talks with investors, WeWork reaches deal to cut debt, and Pear Therapeutics explores “strategic alternatives” Virgin Orbit plans for insolvency amid rescue talks with investors Sky News...
Home Plate (NASDAQ:HPLT) has entered into a definitive agreement to combine with shipping company Heidmar at an anticipated enterprise value of $214.4 million, or 7.2x its 2023E EBITDA. Athens-based Heidmar operates an asset-light shipbroking network providing access to a pool of 60 fuel tanker and dry bulk ships. The combined company is expected to trade...
two (NYSE:PIAI) announced in an 8-K this morning that it has pushed back its special meeting one week from March 24 to 10 am ET, March 31. Shareholders at the meeting will consider a proposal to extend its transaction deadline from April 1 to January 1, 2024. The SPAC’s sponsor has not yet offered to...