DiamondHead Holdings Corp. (NASDAQ:DHHC) announced in an 8-K this afternoon that it has rescheduled its special meeting to complete its transaction with homebuilding company Great Southern Homes, Inc.
The company originally planned to hold the completion vote on March 14, but will now be pushing it back until March 23 at 10:00 a.m. Eastern Time to allow more time for the preparation of closing logistics. The redemption deadline will also be extended from March 10 to March 21.
The SPAC initially brought $345 million into the deal through its current trust, but saw 87.13% redeemed during an extension vote in January, leaving it with $44.94 million. The proposed merger also features a minimum cash condition of $125 million, but DHHC did not supplement this with a PIPE. If the deal is approved, the combined company will trade on the Nasdaq under the new ticker symbol “UHG”.
DiamondHead announced the $572 million combination with Great Southern Homes in September 2022. Columbia, South Carolina-based Great Southern Homes (“GSH”) is currently one of the largest homebuilders in the Southeast and focuses on the entry level home buyer segments.
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Alpine (NYSE:REVE) announced this afternoon that it has again adjourned its special meeting to complete its transaction with experiential entertainment company Two Bit Circus. The SPAC originally intended to hold its special meeting on February 24, but has adjourned it four times since then. Alpine now expects to reconvene the meeting on March 30 at 12:00 p.m....
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DiamondHead Holding Corps. (NASDAQ:DHHC) announced in an 8-K this morning that it has entered into subscription agreements with lock-up investors and PIPE investors in connection to its business combination with Great Southern Homes. Although the deal was approved by shareholders during a meeting last Thursday, the parties are still working to raise funds to meet...