Saban Capital Releases Results of Vote to Extend Deadline
by Kristi Marvin on 2018-09-21 at 9:43am

SCAC will now have until December 31, 2018 to complete their transaction

Saban Capital Acquisition Corp. released the results of its shareholder vote to extend their completion deadline to December 31, 2018.  25,459,87 shareholders voted for the extension, while 2,038,707 shareholders voted against.  However, 3,842,224 shareholders opted to redeem their shares at $10.19 per share for an aggregate amount of $39.15 million.

Saban will now have an additional three months to complete their previously announced business combination agreement with Panavision and Sim Video,  a combined company that will provide end-to-end production and post-production services to the entertainment industry.  Additionally, Saban will also be able to extend to March 31, 2018 if they have executed a definitive agreement by December 31, 2018.

The new currently estimated funds in trust is now approximately $217 million (including estimated interest).

FORAGAINSTABSTENTIONS
25,459,8702,038,7072,000

 

Recent Posts
by Kristi Marvin on 2023-11-25 at 11:45am

Terms Tracker for the Week Ending November 24, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This being the Thanksgiving holiday week, we are thankful for a lot of things, but mostly that 2023 is almost over. It’s been a rough...

by Nicholas Alan Clayton on 2023-11-24 at 7:35am

At the SPAC of Dawn Though perhaps stuffed to the brim, SPAC activity continues this Thanksgiving Friday with votes by Clean Earth and Zalatoris to extend a deadline and amend trust contributions, respectively. At least seven de-SPACs are also reporting earnings today and will do so going into a futures market that is mostly green...

by Marlena Haddad on 2023-11-22 at 9:45am

IB Acquisition Corp. submitted its S-1 filing Friday afternoon for a $100 million IPO, coming right on the heels of Bayview Acquisition Corp, which also filed its S-1 that day. IB is also similar to Bayview in that its units do not feature a warrant but include 1 right for 1/10. However, its trust is slightly...

by Nicholas Alan Clayton on 2023-11-22 at 8:53am

Integrated Wellness (NYSE:WEL) announced in an 8-K filing that it agreed to transfer control of its sponsor to Sriram Associates, which will now take on the SPAC’s financial obligations and may appoint a new team. Sriram is acquiring 2,012,500 promote shares (70%) and 4,795,000 private placement warrants (70%) for the nominal purchase price of $1....

by Nicholas Alan Clayton on 2023-11-22 at 7:45am

At the SPAC of Dawn So far, seven SPACs have announced their liquidations this week and although some others may choose to use the holiday to quietly disband, this tends to be a positive week for equities in general. Going back to 1961, the S&P 500 has ended the Thanksgiving week with gains three-quarters of...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved