SPACInsider Logo
Leisure Acquisition Corp. Shareholders Approve New Extension
by Kristi Marvin on 2020-03-27 at 7:52am

LEISURE ACQUISITION CORP. (LACQ)

This morning, Leisure Acquisition Corp. (LACQ), released the details of their shareholder vote to approve extending their deadline three more months from April 5, 2019 to June 30, 2020.  The extension was nearly unanimously approved, but Leisure endured a heavy number of redemptions totaling $176.3 million.

Per today’s 8-K, out of the 18,876,251 remaining public shares outstanding after Leisure’s last shareholder vote, 16,837,678 shares opted to redeem.  That leaves 2,038,573 shares remaining today.  A redemption price per share was not given, however, the 8-K did state that the total aggregate value of those redemptions was $176.3 million.  Furthermore, the filing also stated that the amount remaining in trust is now $21.3 million, so using those figures we can estimate that the per-share redemption price was roughly $10.47.

Leisure now has three additional months to close their combination with Gateway Casinos.

Vote results below.

FORAGAINSTABSTENTIONSBROKER NON-VOTE
18,632,5511000

 

 

Recent Posts
by Marlena Haddad on 2022-12-07 at 1:22pm

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...

by Nicholas Alan Clayton on 2022-12-07 at 1:14pm

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....

by Marlena Haddad on 2022-12-07 at 11:35am

  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%...

by Kristi Marvin on 2022-12-07 at 11:05am

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...

by Nicholas Alan Clayton on 2022-12-07 at 10:33am

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...

Privacy Policy|Terms Of Use
Copyright © 2022 SPACInsider, Inc. All Rights Reserved