SCAC will now have until December 31, 2018 to complete their transaction
Saban Capital Acquisition Corp. released the results of its shareholder vote to extend their completion deadline to December 31, 2018. 25,459,87 shareholders voted for the extension, while 2,038,707 shareholders voted against. However, 3,842,224 shareholders opted to redeem their shares at $10.19 per share for an aggregate amount of $39.15 million.
Saban will now have an additional three months to complete their previously announced business combination agreement with Panavision and Sim Video, a combined company that will provide end-to-end production and post-production services to the entertainment industry. Additionally, Saban will also be able to extend to March 31, 2018 if they have executed a definitive agreement by December 31, 2018.
The new currently estimated funds in trust is now approximately $217 million (including estimated interest).
| FOR | AGAINST | ABSTENTIONS |
| 25,459,870 | 2,038,707 | 2,000 |
Terms Tracker for the Week Ending March 24, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. While this week was relatively quiet on the filings front, we did see March’s second SPAC IPO price with Oak Woods Acquisition Corp’s $50 million...
Latest Non-Redemption Agreements: ExcelFin Acquisition Corp. ExcelFin Acquisition Corp. (XFIN) Adds Non-Redemption Agreement In connection with the special meeting of stockholders of ExcelFin Acquisition Corp. (NASDAQ:XFIN) to extend its completion deadline from April 25, 2023 to October 25, 2023, the company and its sponsor, ExcelFin SPAC LLC, entered into a non-redemption agreement with an unaffiliated third party....
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Momentus SPAC backers accused of deliberately engineering a catastrophic deal Momentus SPAC Backers Accused of Hiding Disastrous Deal’s Flaws A Momentus Inc. (NASDAQ:MNTS) investor sued backers of its blank-check merger with a shell company,...
DiamondHead Holdings Corp. (NASDAQ:DHHC) announced in an 8-K this morning that its shareholders approved its combination with Great Southern Homes at a special meeting March 23. Only 109,426 shares were redeemed in the connection with the vote, but DiamondHead has seen about 87% redemptions in total across all previous votes, leaving it with about $43.9...
Graf Acquisition Corp. IV (NYSE:GFOR) announced that it has signed a non-binding letter of intent to combine with clinical-stage biopharma company NKGen. This announcement is not a pure teaser as Graf IV is not facing an imminent extension vote and currently has until May 25 on its clock. It does, however, signal something of a...