Ahead of GreenVision Acquisition Corp.’s (GRNVU) anticipated IPO pricing tonight, below is a short summary of Monday’s notable evening news.
OPES ACQUISITION CORP. (OPES)
Early this afternoon, Opes Acquisition Corp. (OPES), released the details of their shareholder vote to approve their extension deadline from November 15, 2019 to December 16, 2019, or January 15, 2020 if they extend an additional 30 days further. As you can see below, investors overwhelmingly voted yes to give them a two-month extension. Additionally, OPES had approximately $96 million held in trust heading into the vote and only 228,001 shares opted to redeem at a price of $10.43 per share. As a result of those redemptions, $2,378,050 was removed from trust and the number of public shares outstanding is now 8,989,246. That’s a great extension vote result. The approximate new trust value is $93.8 million.
As a reminder, the Company’s Sponsor will be contributing $0.0325 for each public share that was not converted in connection with the Extension for each 30-day extension, or $0.065 if OPES needs the full two-months.
RESULTS
| FOR | AGAINST | ABSTAIN | BROKER NON-VOTES |
| 8,119,034 | 265,798 | 1,413 | 0 |
TWELVE SEAS INVESTMENT CORP. (BROG)
Twelve Seas Investment Company (BROG), which recently set their shareholder vote date for December 17th to complete their combination with Brooge Petroleum, announced Brooge intends to engage in discussions with current investors and potential investors of Twelve Seas, regarding Brooge Holdings paying a quarterly dividend to its public shareholders following the consummation of the business combination. However, the press release went on to say that, “The amount and terms of such dividend, if any, have not yet been determined and no assurance can be given that Brooge Holdings will ultimately pay any dividend to its shareholders.” So it’s a possibility, but no guarantees.
Additionally, there was big volume today (and Friday as well) in Twelve Seas’s share. Today saw 2,084,049 shares trade hands and Friday saw volume of 1,643,679. However, the share price never traded above the current estimated trust value of $10.31 per share and closed at $10.29. Whether that’s investors interested in the above dividend, hard to confirm.
(Brooge Petroleum is a United Arab Emirates (“UAE”) company in the oil storage and services business.)
D and Z Media Acquisition Corp. (NYSE:DNZ) announced this afternoon that its special meeting, originally scheduled for 12:00 p.m. today, was convened and then adjourned, without conducting any business, to 1:30 p.m. on December 19. As of now, DNZ has a completion deadline of January 28, 2023, but is hoping to seek shareholder approval to add an extra...
EDOC Acquisition Corp. (NASDAQ:ADOC) has entered into a definitive agreement to combine with food oil processing company Australian Oilseeds at an enterprise value of $190 million. Australian Oilseeds manufactures food-grade, edible oils through several subsidiaries. Transaction Overview EDOC has an estimated $21.3 million in its current trust after seeing about 77.5% redemptions in extension votes....
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Buzzfeed cuts 12% of staff, and ASIG plans to expand through acquisition upon completion of SPAC BuzzFeed cuts 12% of staff citing worsening econ conditions Digital media company BuzzFeed (NASDAQ:BZFD) is cutting 12%...
What is your life insurance policy worth while you’re still living? This week, we speak with Abacus Life President and CEO Jay Jackson who may just want to buy yours. Abacus Life has made a business of buying consumer life insurance policies for upfront payments and holding them until maturity. To help bring this particular kind of transaction...
Golden Falcon (NYSE:GFX) has entered into a definitive agreement to combine with freight aviation company MNG Airlines at an enterprise value of $676 million, or 5.8x its LTM adjusted EBITDA. Istanbul-based MNG Airlines operates air freight services to four continents with a fleet of nine jets. The combined company is expected to trade on the...