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 2023-09-28 at 11:45am

Home Plate Acquisition Corporation (NASDAQ:HPLT) announced that it adjourned this morning’s extension vote without conducting any business and it will pick things up again at 11 am ET October 2. Shareholders at the meeting are to consider giving Home Plate an extra two and half months to complete a deal, moving its deadline from October...

by Nicholas Alan Clayton on 2023-09-28 at 11:29am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Law firm Schulte sues SPAC over fees from failed Philippine casino merger U.S. law firm Schulte Roth & Zabel is suing its former client 26 Capital Acquisition Corp to recover more than $1.9 million in legal fees...

by Nicholas Alan Clayton on 2023-09-28 at 10:56am

Fortune Rise Acquisition Corp. (NASDAQ:FRLA) announced this morning that it has changed the target of its letter of intent to combine, but only partially. The SPAC had an existing LOI to merge with its own sponsor, but since that sponsor is now a subsidiary of another company it has to combine with a different version...

by Nicholas Alan Clayton on 2023-09-28 at 9:07am

LatAmGrowth SPAC (NASDAQ:LATG) announced in a filing this morning that it will once adjourn its special meeting to liquidate early a second time and will reconvene it at October 5. The proposals on its ballot would initiate the process of winding down the SPAC and return all trust capital to investors outside of $100,000 for...

by Nicholas Alan Clayton on 2023-09-28 at 8:54am

Jaguar Global (NASDAQ:JGGC) announced this morning that its shareholders approved its combination with glass-maker GLAAM at a special meeting September 27. The parties have not yet released redemption figures or a timeline to close, but the combined company is expected to change its name to Captivision. Upon close its shares and warrants are to trade...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved