Gesher I (GIAC) Shareholders Approve Freightos Deal
by Marlena Haddad on 2023-01-25 at 6:18pm

Gesher I (NASDAQ:GIAC) announced in an 8-K this afternoon that its shareholders approved its combination with global freight booking and payment platform Freightos at a special meeting held earlier today.

The deal was overwhelmingly approved with holders of 11,819,340 shares voting in favor of the deal and just 718,099 shares against it.

89.46% of shareholders holding an aggregate of 10,287,844 GIAC ordinary shares exercised their right to redeem at approximately $10.26 per share, or $105,569,819.30 in the aggregate. The remaining amount in the trust account was used to fund certain expenses incurred by Gesher and Freightos in connection with the deal, after payment of deferred underwriting commissions in connection with Gesher’s initial public offering, and will be used for general corporate purposes of Freightos following the transaction.

The parties were able to close the deal today and the combined company’s shares and warrants will soon begin trading on Nasdaq under the symbols “CRGO” and “CRGOW,” respectively.

Gesher I announced its $436 million deal with Freightos in June 2022. Jerusalem-based Freightos connects participants across the international freight ecosystem through a transparent digital platform that allows real-time global freight rate comparison, booking, and shipment management.

 

Recent Posts
by Nicholas Alan Clayton on 2024-07-18 at 8:20am

At the SPAC of Dawn Stardust Power (NASDAQ:SDST) is the latest de-SPAC to rocket up this week after closing its combination with Global Partner II, but there could be more to its spike than simply the low float it currently represents. The parties got through their July 8 closing with just 134,550 public shares remaining...

by Nicholas Alan Clayton on 2024-07-17 at 2:19pm

GSR III Acquisition Corp. (NASDAQ:GSRTU) has filed to be the latest repeat team to return to the SPAC market with a $200 million IPO with terms that differentiate it from the majority of the recent crop. Led by co-CEOs Gus Garcia and Lewis Silberman, the team has experience from both managing a bevy of SPACs...

by Nicholas Alan Clayton on 2024-07-17 at 8:40am

The use of forward projections by target companies going through a SPAC transaction has been a controversial topic since the SPAC boom began in 2020. But, left to the side of this issue has been the question, “Do de-SPACs even benefit from using projections?” Certainly plenty of de-SPACs have taken hits in the public markets...

by Nicholas Alan Clayton on 2024-07-17 at 8:28am

At the SPAC of Dawn Futures are starting the day deep red after hitting a string of highs this month, but many of the corners of the market populated by de-SPACs appear to have more room to roll. Small-caps overall are having a strong month as the Russell 2000 has surged forward nearly +11% over...

by Nicholas Alan Clayton on 2024-07-16 at 8:08am

At the SPAC of Dawn As the US elections draw nearer, more intersections of SPACs and politics are likely to continue to emerge. One day further into the Republican National Convention and Trump Media (NASDAQ:DJT) is now facing a slight -9% regression in the aftermarket, while conservative social media platform Rumble (NASDAQ:RUM) experienced its own...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved