Tristar Acquisition I Corp. (TRIS) Terminates LOI
by Marlena Haddad on 2023-06-14 at 6:16pm

Tristar Acquisition I Corp. (NYSE:TRIS) announced in an 8-K this afternoon that it has terminated its non-binding letter of intent (LOI) with its unnamed target.

The LOI was announced just a few months ago in March, but by having this signed agreement in hand, it allowed the SPAC to automatically extend its transaction deadline by three months from April 18 to July 18.

Tristar I did not provide any further information on the reason for the breakup and tipped very little information on the target itself aside from stating that the SPAC has had discussions with it over an extended period of time and it meets its criteria and guidelines. According to its S-1, Tristar I has been searching for telecom and technology targets that have “a need for business optimization and high-return investment opportunities” since its October 2021 IPO.

The SPAC is led by CEO and Chairman William M. Mounger II, COO Cathy Martine-Dolecki, and CFO Timothy Dawson.

Tristar Acquisition I Corp. (TRIS) Terminates LOI
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