SPACInsider Logo
Thunder Bridge (TBRG) Announces Approval of Combination
by Kristi Marvin on 2019-07-10 at 2:16pm

This afternoon, Thunder Bridge Acquisition Corp. (TBRG), announced the approval of their business combination with Repay Holdings. and the results of their shareholder vote.

Unfortunately, all we have so far are the vote counts, but hopefully we will be given additional information on the number of redemptions and the actual redemption price in a forthcoming press release or new filing.  As we all know by now, the number of redemptions is the crucial bit of information we all want and need since you can still vote “yes” and redeem the share for the pro rata amount in trust. Hence, the actual “vote” is sort of meaningless. There is no incentive to vote a deal down and have it liquidate since a liquidation would result in a shareholder losing their warrants. The better play if you don’t like a transaction is to just vote “yes”, redeem, AND keep the warrant. As a result, even though the Thunder Bridge/Repay transaction was overwhelmingly voted “yes” and the combination was approved, it is difficult to know what demand will look like post “de-SPACing” without knowing the redemption totals.

Nonetheless, Thunder Bridge did cross the finish line and we get to place another SPAC in the “completed” column and that deserves some recognition.  It ain’t easy.

We’ll update if further information becomes available, but you can read the 8-K HERE and a summary of both the combination and warrant proposal votes are provided below:

Business Combination Proposal
Warrant Amendment Proposal


Recent Posts
by Marlena Haddad on 2022-12-02 at 5:38pm

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC Liquidations: NightDragon, VectoIQ II, and Fortistar Sustainable Solutions Corp. Night Dragon Acquisition Corp. Will Redeem Its Public Shares and Will Not Consummate an Initial Business Combination NightDragon Acquisition Corp. (NASDAQ: NDAC) anticipates that the last trading day...

by Marlena Haddad on 2022-12-02 at 4:38pm

Lakeshore Acquisition I Corp. (NASDAQ:LAAA) disclosed this afternoon that its shareholders have approved its business combination with medical device company ProSomnus during a special meeting held earlier today. Approximately 92.4% of the votes cast at the meeting on the business combination proposal, representing approximately 80.5% of Lakeshore’s outstanding shares, voted to approve the deal. The SPAC disclosed...

by Marlena Haddad on 2022-12-02 at 11:38am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Embark director Elaine Chao and others sued over SPAC merger, Alvotech switches CEO and takes COO from Teva, and Uber Freight and Aurora expand pilot  Embark Director Elaine Chao, Others Sued Over SPAC...

by Nicholas Alan Clayton on 2022-12-02 at 7:51am

SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among potential targets in the security industry. We look at why they are compelling and why each could be a fit for a blank-check merger. Security is on the market’s mind and is expected to grow at a CAGR...

by Marlena Haddad on 2022-12-01 at 5:55pm

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC Liquidations: Atlas Crest Investment II and One Equity Partners Open Water I Atlas Crest Investment Corp. II to Liquidate Trust Atlas Crest II’s (NYSE:ACII) board and shareholders have agreed to establish today, December 1, 2022,...

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