Silver Spike II (NASDAQ:SPKB) announced in an 8-K this morning that it intends to adjourn its special meeting set to be held at noon ET today and postpone it until the same time March 10 without conducting any business.
The extra days will give Silver Spike II’s sponsor to engage with its investors and possibly come to non-redemption agreements which have become increasingly common in this season of votes. Investors do not currently have a business combination to mull over, however.
Silver Spike II announced a merger with pharmaceutical firm Eleusis last January, but later terminated it in June.
As a part of the breakup fee, the SPAC is to receive an amount of shares equal to 3% of Eleusis’ total equity at the firm’s next capital raise, liquidity event or sale of the company. Should this occur after Silver Spike II has consummated a different business combination or liquidated, then these shares will be placed in escrow with a third-party payment agent.
The team’s deadline for consummating a new deal is up on March 15, but its extension proposal on the ballot would allow it to automatically extend one month at a time up to nine times. The team closed its first deal in 2021 with WM Holding, an ecommerce platform connecting consumers with local cannabis products.
Trailblazer Merger Corporation I priced its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “TBMCU” Wednesday, March 29, 2023. The SPAC intends to focus its search on companies operating in the technology industry in the following segments: cloud as a service, supply chain technologies, servicing the hybrid workforce...
Alpine (NYSE:REVE) announced this afternoon that it has again adjourned its special meeting to complete its transaction with experiential entertainment company Two Bit Circus. The SPAC originally intended to hold its special meeting on February 24, but has adjourned it four times since then. Alpine now expects to reconvene the meeting on March 30 at 12:00 p.m....
Home Plate Acquisition Corporation (NASDAQ:HPLT) announced that it adjourned its extension vote today and will reconvene the special meeting at 10:30 am ET on March 30. At the upcoming meeting, the SPAC hopes to gain shareholder approval to extend its completion deadline from April 4, 2023, to October 4, 2023. Home Plate announced a $214 million business combination with...
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DiamondHead Holding Corps. (NASDAQ:DHHC) announced in an 8-K this morning that it has entered into subscription agreements with lock-up investors and PIPE investors in connection to its business combination with Great Southern Homes. Although the deal was approved by shareholders during a meeting last Thursday, the parties are still working to raise funds to meet...