JAWS Spitfire Acquisition Corp. (SPFR) Shareholders Approve VELO3D Deal
by Marlena Haddad on 2021-09-28 at 6:36pm

JAWS Spitfire Acquisition Corp. (NYSE:SPFR) announced in an 8-K filing today that its shareholders approved its combination with manufacturing firm VELO3D , but faced a fair share redemptions at a shareholder vote held earlier this morning.

A total of 18,215,868 shares were redeemed in connection with the meeting, removing 52.8% of SPFR’s trust which leaves just $162.8 million remaining. As a result, VELO3D agreed to waive the minimum cash at closing condition of $350 million in order to close the deal.

The transaction is expected to close on Wednesday, September 29. The common stock and warrants of New Velo3D are expected to begin trading on the New York Stock Exchange under the symbols “VLD” and “VLD WS”, respectively, on Thursday, September 30.

The parties originally announced the $1.6 billion combination on March 23.  VELO3D manufactures advanced 3D printing machines for high-end engineering clients in aerospace, energy and other industries.

Holders of 31,119,125 ordinary shares were present in person or by proxy, representing around 72.16% of SPFR’s voting power. The business combination was overwhelmingly approved with 30,231,232 votes in favor of the proposal.

All other proposals related to the business combination were approved at today’s meeting. For a full list of tallies and proposals, click HERE.


ADVISORS

  • BofA Securities served as exclusive financial advisor to VELO3D
  • Fenwick & West LLP served as legal counsel to VELO3D.
  • Credit Suisse Securities (USA) LLC served as capital markets and financial advisor to JAWS Spitfire and as lead placement agent on the PIPE transaction.
  • Kirkland & Ellis LLP served as legal counsel to JAWS Spitfire.
  • BofA Securities served as a co-placement agent on the PIPE transaction.
  • Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to the placement agents on the PIPE.
JAWS Spitfire Acquisition Corp. (SPFR) Shareholders Approve VELO3D Deal
Recent Posts
by Nicholas Alan Clayton on 2025-07-03 at 12:54pm

Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...

by Nicholas Alan Clayton on 2025-07-03 at 8:27am

At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...

by Nicholas Alan Clayton on 2025-07-02 at 12:13pm

McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...

by Nicholas Alan Clayton on 2025-07-02 at 8:29am

At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....

by Nicholas Alan Clayton on 2025-07-02 at 6:28am

EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved