HL Acquisitions Corp. (NASDAQ:HCCH) announced that it has secured shareholder approval of its combination with Fusion Fuel Green with impressively zero shares redeemed in connection with the vote.
HL shareholders voted on the transaction at a special meeting December 4 and also elected seven directors to Fusion Fuel’s Board as well as the sale of 2,450,000 Fusion Fuel shares for $10.25 per share in a $25.1 million private placement.
The parties expect the transaction to close in the coming days, at which time each unseparated HL unit will automatically separate into one share, one warrant and one right. Each of these rights will automatically be exchanged for a 1/10th share. Once converted at close to shares and warrants of the new combined entity, they will will trade on the Nasdaq under the symbols “HTOO” and “HTOOW,” respectively.
The SPAC faced a low risk of redemptions as it opened ahead of the vote at $19.50 as compared to its estimated redemption rate of $10.58, and it has since surged in post-vote trading to over $20.87.
HL Acquisitions initially announced its combination agreement with Fusion Fuel June 8 and this result marks a happy ending for a SPAC that treaded through some difficulty over the past year. In March, HL Acquisitions was forced to walk away from an earlier deal with liquid-natural gas company Chi Energie as it came just before the pandemic bottomed out fossil fuel energy markets.
Fusion Fuel is a hydrogen power company currently building Portugal’s first utility-scale hydrogen power generation project.
Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...
At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...
Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...