Perception Capital Corp. II (PCCT) Shareholders Approve Spectaire Deal
by Marlena Haddad on 2023-10-13 at 5:37pm

Perception Capital Corp. II (NASDAQ:PCCT) announced that its shareholders approved its combination with equipment manufacturer Spectaire at a special meeting held earlier today.

At the meeting, holders of 1,534,487 Class A ordinary shares and 5,750,000 Class B ordinary shares were present, representing 92.26% of the issued and outstanding shares. The deal was overwhelmingly approved as holders of 7,013,879 shares voted in favor of the transaction and holders of just 210,608 shares voted against it.

While the SPAC has not yet revealed final redemption figures, it entered today’s shareholder vote revealing with a different 8-K this morning that 2,049,498 Class A Ordinary Shares had already redeemed, leaving it with approximately $22.3 million and just 31,417 shares. Perception II hit a high yesterday of $15.40, but closed today at $10.30, slightly below its estimated $10.72 pro rata cash in trust.

Earlier this week, Perception II secured a $3.5 million PIPE commitment from investor Dr. Jörg Mosolf. The initial purchase of 50,000 shares, at $10.00 per share, will happen concurrently with the closing of the deal for $500,000. Within two years after the closing, Dr. Mosolf will buy additional shares for $10.00 per share, totaling $3 million.

The SPAC also recently entered into a $650,000 agreement with Polar Multi-Strategy Master Fund to provide money for its expenses until the deal is finalized. In return, PCCT will give Polar 0.9 shares of common stock for every dollar provided.

Perception II inked the $203 million combination with Spectaire earlier this year in January and added a $25 million cash closing condition in March. Neither party has specified a timeline for finalizing the deal.

Watertown, Massachusetts-based Spectaire provides a precision micro mass spectrometer designed to help companies demonstrate carbon emission reductions.


Recent Posts
by Nicholas Alan Clayton on 2024-06-12 at 10:12am

Perceptive Capital Solutions Corp announced the pricing of its $75 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “PCSC”, Wednesday, June 12, 2024. The new SPAC intends to focus its target search on the North American and European life sciences and medical technology sectors where its management...

by Nicholas Alan Clayton on 2024-06-12 at 8:23am

At the SPAC of Dawn The ARYA team has been among the SPAC market’s most steady dealmakers and they dropped a new presentation this morning for ARYA Sciences IV‘s (NASDAQ:ARYD) pending combination with medical device manufacturer Adagio Medical. Much of the deck rehashes already released information, but it has given more texture on how the...

by Nicholas Alan Clayton on 2024-06-11 at 12:22pm

EQV Ventures (NYSE:EQV.U) is the largest SPAC to file since April 2023 as it seeks a $350 million IPO that reflects the ongoing experimentation in underwriting approaches over the last two months of 2024. It is BTIG’s first new SPAC filed for 2024, and it is structured to compensate the firm in a unique way....

by Nicholas Alan Clayton on 2024-06-11 at 8:14am

At the SPAC of Dawn As both SPAC and traditional-way IPO activity picks back up in 2024, SPAC teams might want to brush up on their Spanish as they compete for targets. Spain has not traditionally been considered a tech innovation hotbed, but the combined enterprise value of Spanish startups hit €100 billion last year,...

by Nicholas Alan Clayton on 2024-06-10 at 8:08pm

Centurion Acquisition Corp announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ALFUU”, Tuesday, June 11, 2024. The new SPAC aims to combine with a technology company with a focus on video gaming, interactive entertainment and enabling services and technologies, cybersecurity, artificial...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved