Kingswood Acquisition Corp. (KWAC) Adjourns Extension Vote Again
by Marlena Haddad on 2022-11-18 at 9:56am

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.

Kingswood announced its $208 million combination with broker-dealer aggregator Wentworth Management Services LLC on July 8, 2022. New York City-based Wentworth Management Services LLC specializes in consolidating independent broker-dealers to capture economies of scale needed. It and Kingswood are to become wholly-owned subsidiaries of Binah Capital Group as a part of transaction.

 

Recent Posts
by Nicholas Alan Clayton on 2024-04-26 at 7:41am

At the SPAC of Dawn After a tepid month for SPAC activity in April, prominent teams are already scheduling things to make for some fireworks in early May. AltC (NYSE:ALCC) has already been turning heads as being the rare SPAC to trade significantly above trust value before close, and it has now booked the completion...

by Nicholas Alan Clayton on 2024-04-25 at 8:04am

At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...

by Nicholas Alan Clayton on 2024-04-24 at 4:09pm

Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...

by Nicholas Alan Clayton on 2024-04-24 at 8:07am

At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...

by Nicholas Alan Clayton on 2024-04-23 at 4:05pm

Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved