Blockchain Coinvestors I (NASDAQ:BCSA) announced this afternoon that it is postponing its special meeting to extend its timeline to complete its business combination.
The meeting was originally scheduled to be held on September 22, but will now be moved to Friday, October 27, 2023, at 11:30 a.m. Eastern Time. The SPAC is hoping to gain shareholder approval at the upcoming meeting to extend the date by which it must complete a deal from November 15 to May 15, 2024.
As a result of the postponement, the deadline for redemption requests has also been extended to October 25, 2023.
Blockchain Coinvestors I inked its $622 million deal with crypto fintech firm Qenta in November 2022. The Houston-based company has created a crypto investment and payments platform with its G-Coin backed by sustainably produced physical gold.
Mobiv Acquisition Corp. (NASDAQ:MOBV) announced this afternoon that it has closed its combination with EV motorcycle-maker SRIVARU. Shareholders originally approved the deal at a special meeting held back on September 28, but at that time, the parties expected the transaction to take just a week to close. Redemptions whittled Mobiv’s IPO share pool of 10,005,000 down...
Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the...
EF Hutton Acquisition Corp. I (NASDAQ:EFHT) announced this morning that its shareholders have approved its business combination with E.C.D. Auto Design. At the meeting, there were 5,089,203 shares of common stock, representing approximately 76.82% of the issued and outstanding shares of common stock, present. In connection with the meeting, the company’s stockholders holding 3,470,945 shares,...
Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...
At the SPAC of Dawn This week ends with an unusually busy earnings calendar as 172 US-listed companies report quarterly figures today. Among them is Exela Technologies (NASDSAQ:XELA), which completed a combination with Quinpario 2 in 2017. The billing software company has gone on to do another SPAC deal on November 29, this time spinning...