Noble Rock (NASDAQ:NRAC) announced in an 8-K this morning that it is transferring control of its sponsor to Meteora Special Opportunity Fund, Singh Capital Partners and affiliates.
The terms of this transaction have not yet been made public, but it will result in changes to both the SPAC’s management and Board. Existing CEO Whitney Bower and CFO Peter Low are to resign and as well as Board members David Lang and Michael Alter.
The last remaining Board member Aemish Shah is to step up as CEO. It remains to be determined whether this is to be in an interim capacity and who will staff the remaining vacancies. Shah is the co-founder and managing partner of General Global Capital, which has invested in a number of startups including de-SPACs SoFi (NASDAQ:SOFI) and Grab (NASDAQ:GRAB).
Noble Rock announced yesterday that it is moving its extension vote from January 25 to 10 am ET January 27 with the new redemption deadline coming up at 5 pm today. This proposal on offer would push its completion deadline from February 4 to September 4 in exchange for a contribution to the trust of the lesser of $100,000 or $0.055 per share.
With this extension secured, Meteora and Singh would be taking control of a SPAC vehicle with attractive terms for the current market. Noble Rock initially went public in 2021 without overfunding its trust and with units containing 1/3 warrants.
The last five SPACs to IPO dating back to November 10, 2022 all had trusts overfunded to 101.8% or 102% and all but one had one full warrant in its units.
EGH Acquisition Corp. (NASDAQ:EGHAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EGHAU”, Friday, May 8, 2025. The new SPAC aims to combine with a target company in the energy transition or sustainability arena that help industries achieve efficiencies and decarbonization....
At the SPAC of Dawn Fed Chair Jerome Powell announced yesterday that the body intends to keep rates unchanged, earning him the moniker “FOOL” by US President Donald Trump. But, the announcement could bring some stability to market, which has seen macro factors pull it a variety of directions since the start of the year....
Tariffs, Trade Routes, and Tech: Freightos’ View from the Cargo Frontlines 2025 is shaping up to be a wild year for global trade, and few companies have a vantage point on the impacts of every-changing tariff policy quite like digital cargo-booking platform Freightos (NASDAQ:CRGO). This week, we catch up with Freightos CEO Zvi Schreiber. He shares...
NMP (NASDAQ:NMPU) has filed for a $100 million SPAC to conduct a broad search for a target, leveraging its team’s past consultancy work. The new SPAC’s units are set to contain one right to a 1/5 share. That is more generous to investors than the unit structure for Maxim Group’s other new SPAC filing this...
At the SPAC of Dawn Futures are green ahead of the Fed Chair Jerome Powell’s highly anticipated press conference at 2:30 pm ET today following two days of Federal Reserve meetings. Several other Fed members are expected to speak on Friday, but any news on rate changes is likely to come out of today’s speech,...