Kingswood Acquisition Corp. (NYSE:KWAC) announced yesterday afternoon that it is once again adjourning its special meeting.
The SPAC originally adjourned its special meeting on November 15, to November 18, and will now be adjourning the meeting again from November 18, to November 23.
Similar to Digital World (NASDAQ:DWAC), Kingswood is still having difficulties soliciting enough votes for the approval to extend its deadline to May 24, 2023 and will need more time to do so. If approved, the amendment would provide the company with an additional six months to complete its proposed merger.
In connection with the adjourned date, KWAC has also further extended the deadline for holders of the company’s common stock to submit their shares for redemption to November 21. KWAC plans to continue to solicit proxies for the meeting until November 23.
PMV Consumer (OTC PINK:PMVC) announced that it is redeeming all non-insider public shares for approximately $10.09 per share, but it will not be dissolving just yet. The SPAC is set to provide written redemption notices to each shareholder and trust proceeds are to be distributed within 30 days of these notices. PMV Consumer will then...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Ex-Marvel chief takes the wheel at Arrival, Paysafe plans reverse stock split, and Dave Inc. to pursue a bank charter Founder of troubled electric van maker Arrival steps aside as CEO The founder...
Digital World (NASDAQ:DWAC) announced late Wednesday that its shareholders have approved amending its charter to allow for automatic three-month extensions of its transaction deadline until September 8, 2023. This brings to close a long drama during which Digital World adjourned the vote without concluding business six times at different meetings in September, October and November....
Venus Acquisition Corp. (NASDAQ:VENA) announced this afternoon that it has secured an investor for a backstop agreement in connection to its business combination with VIYI Algorithm. Venus and its sponsor, Yolanda Management Corporation, entered into a backstop agreement with Joyous JD Limited to purchase VENA shares from third parties through a broker in the open market, or...
SPACs and the use of projections have gotten a fair amount of attention this year from both the media and the SEC. And the pending SEC SPAC Rule could have an additional effect on how bankers and SPAC teams handle projections in the future. However, Jim Zukin, of Zukin Certification Services (“ZCS”), and Christian Nagler,...