Corner Growth Acquisition Corp. (COOL) Adjourns Extension Vote
by Marlena Haddad on 2023-06-16 at 6:01pm

Corner Growth Acquisition Corp. (NASDAQ: COOL) announced this afternoon that it convened and then determined to adjourn its special meeting until June 20.

At the meeting, a sufficient number of COOL’s ordinary shares were present to constitute a quorum. Corner Growth’s chairman adjourned the meeting without opening the polls other than the adjournment proposal.

The SPAC disclosed that it intends to use this additional time to solicit further proxies with respect to the proposals set forth in the proxy. Corner Growth intends to gain shareholder approval at the upcoming meeting to extend its completion deadline from June 21, 2023 to March 20, 2024 as it works to close its deal.

Aside from the extension proposal, the ballot will also include a proposal on the redemption limitation where Corner Growth agrees to not redeem Class A Ordinary shares included as part of the units sold in the IPO to the extent that such redemption would cause its net tangible assets to be less than $5,000,001.

The company originally signed a letter of intent (LOI) to combine with cybersecurity solutions and services provider Noventiq (LSE: SFTL) in February and then signed a definitive agreement with the target in May at an enterprise value of $800 million. Corner Growth has about $12 million in its current trust after seeing 97% of shares redeemed in a December extension vote. The parties expect this to be supplemented by $100 million in new financing of an unspecified type.

London-based Noventiq helps companies lead internal digital transformations to drive efficiencies in their IT, cloud storage and cybersecurity systems.

Recent Posts
by Nicholas Alan Clayton on 2023-09-29 at 7:03am

Hennessy Capital Investment Corp VI (NASDAQ:HCVI) announced overnight that it plans to adjourn today’s 9 am ET extension vote and reopen it at 3 pm ET this afternoon. This does not technically change the redemption deadline for investors, but those wishing to withdraw their redemption requests may still do so by 2 pm ET today....

by Kristi Marvin on 2023-09-28 at 5:32pm

Latest SPAC Liquidations: Schultze Special Purpose Acquisition Corp. II Schultze Special Purpose Acquisition Corp. II (SAMA) to Liquidate on October 11, 2023 Schultze Special Purpose Acquisition Corp. II (Nasdaq: SAMA), announced that it will redeem all of the outstanding shares of its Class A common stock effective as of October 11, 2023. The Company expects...

by Kristi Marvin on 2023-09-28 at 4:40pm

Mercato Partners Acquisition Corporation (NASDAQ:MPRA) announced this afternoon via 8-K that its shareholders have approved its combination with Nuvini at a special meeting held earlier today. With 79.74% of the voting power of the Common Stock participating in the vote, the combination was overwhelmingly approved.  7,975,698 shares were recorded voting for the transaction, while only 38,008...

by Nicholas Alan Clayton on 2023-09-28 at 11:45am

Home Plate Acquisition Corporation (NASDAQ:HPLT) announced that it adjourned this morning’s extension vote without conducting any business and it will pick things up again at 11 am ET October 2. Shareholders at the meeting are to consider giving Home Plate an extra two and half months to complete a deal, moving its deadline from October...

by Nicholas Alan Clayton on 2023-09-28 at 11:29am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Law firm Schulte sues SPAC over fees from failed Philippine casino merger U.S. law firm Schulte Roth & Zabel is suing its former client 26 Capital Acquisition Corp to recover more than $1.9 million in legal fees...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved