Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC Liquidations: Mission Advancement Acquisition Corp., and Clarim Acquisition Corp.
Mission Advancement Acquisition Corp. Shareholders Approve Liquidation Date Amendment
On December 6, 2022, the stockholders of Mission Advancement Corp. approved an amendment to allow the company to unwind and redeem all of its outstanding public shares prior to December 30, 2022.
Following the implementation of the amendment, the Board of Directors of Mission Advancement set December 7, 2022 as the amended termination date.
Holders of 34,035,401 public shares of Class A Common Stock exercised their right to redeem their shares for cash at a redemption price of approximately $10.07 per share, for an aggregate redemption amount of approximately $342,841,438.
Following such redemptions, 464,599 public shares of Class A Common Stock remain outstanding. Mission Advancement expects to redeem all remaining public shares of the company on December 14, 2022, for a total redemption amount of approximately $4,679,945, and a per-share amount of $10.07.
READClarim Acquisition Corp. Shareholders Approve Liquidation Date Amendment
On December 7, 2022, Clarim (NASDAQ:CLRM) held a special meeting where stockholders approved a proposal to liquidate early.
The Board has established December 7, 2022 as the early termination date. As such, the last day of trading of Clarim’s public shares and units on the Nasdaq Stock Market LLC was on December 7, 2022. The company expects to complete the redemptions on or about December 12, 2022.
READSeaport Calibre Materials Acquisition Corp. (NASDAQ:SCMA) announced in an 8-K that it has inked new non-redemption agreements after postponing its initial extension vote. The SPAC has agreed to allocate up to 37,500 promote shares (1.1%) to investors holding in exchange for them agreeing not to redeem an aggregate of 150,000 shares at the vote now...
Armada I (NASDAQ:AACI) announced this afternoon that it has once again postponed its extension vote. The SPAC initially planned to hold its special meeting on January 20, but postponed it to January 30, and will now be pushing it back until tomorrow, January 31. Armada has also extended the deadline for holders to submit their public...
Prime Impact I (NYSE:PIAI) has entered into a definitive agreement to combine with auto insurance firm Cheche at an enterprise value of $841 million, or about 2.3x its 2022 revenue. Beijing-based Cheche provides a digital insurance platform for car owners in China with about 34 million vehicles covered. The combined company is expected to trade...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Hambro Perks eyes merger with Biotech Istesso, Rocket Lab launches first vehicle from U.S. soil, and Alliance Entertainment signs licensing agreement with The Walt Disney Company Hambro Perks SPAC Eyes Merger With Biotech...
Pono Capital Corp. (NASDAQ:PONO) disclosed in an 8-K filing this morning that its shareholders approved its combination with air mobility company AERWINS at a special meeting held on Friday, January 27. Holders of 12,412,861 common shares were present at the meeting and the deal was approved with 11,218,712 shares in favor of the transaction. The filing did not...