Twin Ridge Capital Acquisition Corp. (TRCA) Intends to Adjourn Vote to October 3rd
by Kristi Marvin on 2023-09-22 at 5:23pm

Twin Ridge (NYSE:TRCA) announced this afternoon that it plans to convene and then adjourn its extraordinary general meeting of its shareholders originally to be held on September 26  at 11:30 a.m., Eastern Time.  Twin Ridge intends to hold the new meeting at 11:30 a.m., Eastern Time, on October 3, 2023.

Additional details were not given as to the reason for the move, but meeting adjournments have become quite common in 2023 as companies work to put in place additional financing and backstop agreements. Just this morning, Twin Ridge announced it had added a $110 million structured equity facility to its combination with wheel manufacturer Carbon Revolution (ASX:CBR).

In connection with the adjournment, Twin Ridge is reopening and extending the deadline for its shareholders to exercise their right to redeem their Class A ordinary shares for their pro rata portion of the funds available in Twin Ridge’s trust account, or to withdraw any previously delivered demand for redemption, to 5:00 p.m., Eastern Time, on September 29, 2023 (two business days before the adjourned General Meeting).

The two sides initially announced their $270 million combination in November 2022. Geelong, Australia-based Carbon Revolution makes ultra-light carbon fiber wheels for the high-end automotive industry.

 

Recent Posts
by Nicholas Alan Clayton on 2024-06-17 at 8:13am

At the SPAC of Dawn SPAC action may slow slightly this week as the US trading is to be split in two by the Wednesday Juneteenth holiday. On the voting end, Feutune Light (NASDAQ:FLFV) is slated to be the only SPAC voting to approve a transaction while three more are to hold extension votes. Among...

by Kristi Marvin on 2024-06-15 at 11:30am

Terms Tracker for the Week Ending June 14, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. It was all about the new IPOs and new SPACs getting filed again this week. Cantor managed to price one new IPO on Monday night...

by Nicholas Alan Clayton on 2024-06-14 at 1:20pm

Launch One (NASDAQ:LPAAU) has continued Cantor Fitzgerald’s streak of underwriting new SPAC S-1s with nearly its whole offering already spoken for by non-managing sponsors, in this case a $200 million IPO to hunt in the Life Sciences industry. This SPAC’s non-managing sponsors have expressed interest in 22,690,820 of its units (assuming the full over-allotment option...

by Nicholas Alan Clayton on 2024-06-14 at 8:35am

At the SPAC of Dawn June is now on pace to more than double the issuance of new SPACs with its fifth filed yesterday while May saw seven new SPACs filed. Overall, there have been 21 new S-1 filings on the year and 12 IPOs. By comparison, there had been just 13 new SPACs filed...

by Nicholas Alan Clayton on 2024-06-13 at 12:39pm

After years of ratcheting up financial incentives to make and buy EVs, the world’s trade blocks are now rushing to stack up protectionist barriers, leaving the recent string of EV de-SPACs divided between them. Hong Kong-based EV maker Thunder Power may be the latest to join this increasingly complicated sector as Feutune Light (NASDAQ:FLVF) shareholders...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved