Latest SPAC Liquidations: Enterprise 4.0 Technology and Bilander
Enterprise 4.0 Technology Acquisition Corp. (ENTF) to Liquidate on July 21
Enterprise 4.0 Technology Acquisition Corp. (NASDAQ:ENTF) announced today that it will be unable to consummate an initial business combination and intends to dissolve and liquidate.
On April 20, 2023, the company held a general meeting of shareholders at which the shareholders approved an extension from April 21, 2023 to October 21, 2023. At the time of the meeting, the company believed it could complete a business combination if the extension were to be approved by the shareholders. However, after careful consideration, it has determined it would be unable to deliver a high quality transaction to shareholders even with an extension. Therefore, due to the recent developments, the company has determined not to further extend its completion deadline and instead proceed with the liquidation.
As of the close of business on July 21, 2023, the Class A ordinary shares that were included in the units issued in the IPO will be deemed cancelled, and each share will represent only the right to receive a redemption amount equal to the aggregate amount then on deposit in the trust account established in connection with the IPO, including interest, divided by the number of then outstanding shares.
READBilander Acquisition Corp. (TWCB) to Liquidate on July 25
Bilander Acquisition Corp. (NASDAQ: TWCB) today announced that it will redeem all of its outstanding Class A common stock effective as of July 26.
Net of taxes and dissolution expenses, the per-share redemption price for the Class A Common Stock is expected to be approximately $10.25.
The Company anticipates that the Class A Common Stock will cease trading as of the close of business on July 25.
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Mobiv Acquisition Corp. (NASDAQ:MOBV) announced this afternoon that it has closed its combination with EV motorcycle-maker SRIVARU. Shareholders originally approved the deal at a special meeting held back on September 28, but at that time, the parties expected the transaction to take just a week to close. Redemptions whittled Mobiv’s IPO share pool of 10,005,000 down...
Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the...
EF Hutton Acquisition Corp. I (NASDAQ:EFHT) announced this morning that its shareholders have approved its business combination with E.C.D. Auto Design. At the meeting, there were 5,089,203 shares of common stock, representing approximately 76.82% of the issued and outstanding shares of common stock, present. In connection with the meeting, the company’s stockholders holding 3,470,945 shares,...
Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...
At the SPAC of Dawn This week ends with an unusually busy earnings calendar as 172 US-listed companies report quarterly figures today. Among them is Exela Technologies (NASDSAQ:XELA), which completed a combination with Quinpario 2 in 2017. The billing software company has gone on to do another SPAC deal on November 29, this time spinning...