Jack Creek Investment Corp. (JCIC) Shareholders Approve Bridger Deal
by Nicholas Alan Clayton on 2023-01-24 at 11:36am

Jack Creek (NASDAQ:JCIC) announced that its shareholders have approved its combination with Bridger Aerospace at a special meeting earlier today.

The parties have not yet released redemption figures, but the six SPACs that have completed deals since December 1 and reported results had an average of about 96.6% of shares redeemed.

Jack Creek showed some signs of trying to further engage with investors ahead of the final vote as it had earlier planned an extension vote for January 10, but postponed that twice to 4 pm ET today. With the shareholder approval in hand, Jack Creek expects to close the business combination “promptly” and has canceled that extension vote.

The SPAC announced its $869 million combination with firefighting plane operator Bridger Aerospace in August 2022. Bozeman, Montana-based Bridger manages a fleet of aerial firefighting planes serving both state and federal government contracts.

At announcement, Bridger expected to generate $38.6 million in EBITDA in 2022 out of $74.7 million in revenue.

 

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