SPACInsider Logo
Gores V (GRSV) Shareholders Approve Ardagh Metal Packaging Deal
by Marlena Haddad on 2021-08-04 at 11:45am

Gores V  (NASDAQ:GRSV) shareholders have approved its combination with the metal packaging division of recyclable materials producer Ardagh Group at a special meeting held yesterday.

The press release did not mention redemption figures, but stated Ardagh Metal Packaging received approximately $1.0 billion in gross proceeds. GRSV traded up to $10 throughout its redemption deadline July 30, and opened today at $10.49. Ardagh Group will retain a stake of approximately 82% in AMP and intends to remain a committed long-term majority owner of the business.

The combined entity will be named Ardagh Metal Packaging S.A and is expected to begin trading on the New York Stock Exchange tomorrow August 5, under the new ticker symbol “AMBP”.

The parties initially announced the $8.5 billion deal on February 23. Ardagh Metal Packaging provides recycled aluminum to the consumer packaging market with 24 recycling centers on three continents.


  • Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC are acting as financial advisors and capital markets advisors to Gores Holdings V and as joint lead placement agents on the PIPE.
  • Weil, Gotshal & Manges, LLP and Loyens & Loeff N.V. are acting as legal advisors to Gores Holdings V.
  • Citigroup is acting as exclusive financial advisor to Ardagh and is acting as joint lead placement agent on the PIPE.
  • Shearman & Sterling LLP is acting as legal advisor to Ardagh.
Recent Posts
by Nicholas Alan Clayton on 2023-06-07 at 7:33am

Rice II (NYSE: RONI) announced in an 8-K today that its shareholders have approved its combination with energy technology company NET Power with relatively low redemptions. In the end, 21,195,224 shares were redeemed in connection vote, removing 61% of Rice II’s trust. This is the second best result among the 32 deals that have come...

by Nicholas Alan Clayton on 2023-06-07 at 7:04am

Trajectory Alpha (NYSE:TCOA) announced in an 8-K this morning that it has opted to postpone its June 8 extension vote to June 12 at 10 am ET. The SPAC will use this extra time to engage with shareholders at work to reverse redemption decisions. Trajectory Alpha’s team may still be getting acquainted with some major...

by Kristi Marvin on 2023-06-06 at 5:59pm

Tracking SPACs and all of their various types of “corporate actions” can be challenging. After all, a SPAC can postpone, adjourn, extend, complete, liquidate early, do a tender offer, and in some cases, one SPAC do all of those actions within its lifespan.  Naturally, this can be challenging to manage. More importantly, it can very...

by Marlena Haddad on 2023-06-06 at 11:34am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Byju skips payment on dollar loan and HNR affirms intent to purchase equity interests of Pogo Resources High-Flying Indian Startup Byju’s Skips Payment on Dollar Loan One of India’s best-known startups has skipped payment...

by Marlena Haddad on 2023-06-06 at 10:15am

Avalon Acquisition Inc. (NASDAQ:AVAC) announced in an 8-K this morning that it has entered into a prepaid forward purchase agreement with RiverNorth SPAC Arbitrage Fund, the purchaser, as it works to close its combination with financial services firm The Beneficient Company, or Ben. As part of the agreement, RiverNorth agreed to effect certain purchases of shares...

Privacy Policy|Terms Of Use
Copyright © 2023 SPACInsider, Inc. All Rights Reserved