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 |
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...