Tristar Acquisition I Corp. (TRIS) Announces LOI, Extends Deadline
by Nicholas Alan Clayton on 2023-03-02 at 7:19am

Tristar Acquisition I Corp. (NYSE:TRIS) announced in an 8-K this morning that it has entered into a non-binding letter of intent (LOI) to combine with an unnamed target company.

As per the terms of its prospectus, Tristar I may now automatically extend its transaction deadline by three months from April 18 to July 18 by dint of having the LOI in hand. There is still no guarantee that this LOI will develop into a definitive agreement.

The SPAC may still need to seek an extension by vote to complete a deal as transactions closing in 2023 have so far taken on average more than eight months to get from announcement to close. That’s only counting the distance from from definitive agreement to completion, as well.

Until then, Tristar I has tipped very little information about its target aside from stating that the SPAC has had discussions with it over an extended period of time and it meets Tristar I’s 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.

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

Tristar Acquisition I Corp. (TRIS) Announces LOI, Extends Deadline
Recent Posts
by Nicholas Alan Clayton on 2025-07-08 at 8:11pm

Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...

by Nicholas Alan Clayton on 2025-07-08 at 12:36pm

M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...

by Nicholas Alan Clayton on 2025-07-08 at 8:18am

At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...

by Nicholas Alan Clayton on 2025-07-07 at 9:05am

Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...

by Nicholas Alan Clayton on 2025-07-07 at 8:50am

Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved