DiamondHead Holdings Corp. (NASDAQ:DHHC) announced in an 8-K this afternoon that it has rescheduled its special meeting to complete its transaction with homebuilding company Great Southern Homes, Inc.
The company originally planned to hold the completion vote on March 14, but will now be pushing it back until March 23 at 10:00 a.m. Eastern Time to allow more time for the preparation of closing logistics. The redemption deadline will also be extended from March 10 to March 21.
The SPAC initially brought $345 million into the deal through its current trust, but saw 87.13% redeemed during an extension vote in January, leaving it with $44.94 million. The proposed merger also features a minimum cash condition of $125 million, but DHHC did not supplement this with a PIPE. If the deal is approved, the combined company will trade on the Nasdaq under the new ticker symbol “UHG”.
DiamondHead announced the $572 million combination with Great Southern Homes in September 2022. Columbia, South Carolina-based Great Southern Homes (“GSH”) is currently one of the largest homebuilders in the Southeast and focuses on the entry level home buyer segments.
Berenson Acquisition Corp. I (BACA) Signs Non-Redemption Agreements Berenson (NASDAQ:WTMA) announced in an 8-K this morning that it has entered non-redemption agreements with third parties that will secure 655,715 shares from redemption. The filing did not note what incentive, if any, these investors received for agreeing not to redeem. The move comes as Berenson is...
Crixus BH3 Acquisition Company (NASDAQ: BHAC) announced in a filing this afternoon that it is postponing its extension vote to Friday, October 6, 2023 at 9:00 a.m ET. The meeting was originally to be held Friday, September 29, but presumably it has been moved to account for amendments to its proxy which was filed today...
Welsbach Technology Metals Acquisition Corp. (NASDAQ: WTMA) announced in an 8-K this afternoon that it is postponing its extension vote one day to 2 pm ET September 29. The SPAC would not be able to postpone it much further as its current transaction deadline falls on a Saturday the next day, September 30. At the...
Global Lights Acquisition Corp. (NASDAQ:GLAC) rolled out an S-1 on Friday, to become the 21st SPAC to file in 2023. This keeps the recent pace with two new SPACs filing to list in each of the past three months so far. Three out of the last four of those have also sought to raise $60...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Terran Orbital Closes 432.5 Million Public Offering Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital” or the “Company”), which combined with Tailwind Two in March 2022, today announced the closing of its previously announced public offering of 23,214,290...