SEP Acquisition Corp. (NASDAQ:SEPA) announced this afternoon that its shareholders approved its combination with wound care firm SANUWAVE (OTC:SNWV) during a special meeting on January 29.
At the meeting, holders of 5,146,501 shares of SEPA’s common stock were present, representing 89.46% of the company’s common stock outstanding. The deal was overwhelmingly approved as holders of 5,137,623 shares voted in favor of the deal, while holders of 3,778 shares pushed back against it.
In connection with the vote, stockholders holding 495,067 shares of Class A common stock opted to redeem their shares of Class A common stock. Including prior votes, SEPA stockholders have redeemed an aggregate of 95.1% of the SPAC’s trust thus far, leaving it with approximately $8.5 million and 809,192 shares remaining.
The parties did not provide a timeline for the closing of the deal, but the combined company is expected to trade on the Nasdaq under the symbol “SNWV” once completed.
SEP announced its $127 million deal with SANUWAVE in August 2023. Eden Prairie, Minnesota-based SANUWAVE has commercialized its FDA-approved UltraMist medical device, which accelerates healing and reduces inflammation by delivering a pain-free mist of medicines to the effected area.
Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...
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...
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...
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...
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....