North Atlantic Acquisition Corp. (NASDAQ:NAAC) announced this morning that it has once again postponed its vote to complete its combination with fraud-protection software firm Telesign.
The SPAC’s brief press release did not lay out a new date for a renewed attempt, but noted that one will be announced “in due course.” It postponed an earlier meeting on May 18 and noted at the time that it had received sufficient votes to approve the deal, but not all closing conditions had been met.
The deal includes a $200 million minimum cash condition and its $107.5 million PIPE does not fully cover this, although North Atlantic also has about $380 million in trust. SPACs that have reached completion in 2022 have so far faced an average of 83.9% of shares redeemed, with May completion votes averaging 91%.
North Atlantic initially announced its $1.3 billion deal with Telesign last year on December 16. Marina del Ray, California-based Telesign provides security solutions through APIs, combining digital identity with global communications capabilities to help enterprises connect, protect and engage with their customers.
It recently announced its first quarter revenues reached $111.6 million for a 20.8% year-on-year growth rate and a gross profit margin of 22.3%.
Tariffs, Trade Routes, and Tech: Freightos’ View from the Cargo Frontlines 2025 is shaping up to be a wild year for global trade, and few companies have a vantage point on the impacts of every-changing tariff policy quite like digital cargo-booking platform Freightos (NASDAQ:CRGO). This week, we catch up with Freightos CEO Zvi Schreiber. He shares...
NMP (NASDAQ:NMPU) has filed for a $100 million SPAC to conduct a broad search for a target, leveraging its team’s past consultancy work. The new SPAC’s units are set to contain one right to a 1/5 share. That is more generous to investors than the unit structure for Maxim Group’s other new SPAC filing this...
At the SPAC of Dawn Futures are green ahead of the Fed Chair Jerome Powell’s highly anticipated press conference at 2:30 pm ET today following two days of Federal Reserve meetings. Several other Fed members are expected to speak on Friday, but any news on rate changes is likely to come out of today’s speech,...
Dune Acquisition Corporation II (NASDAQ:IPODU) announced the pricing of its $125 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “IPODU”, Wednesday, May 7, 2025. The new SPAC aims expects to conduct a broad search for a combination target, but is interested in companies that are in the...
Oyster Enterprises II (NASDAQ:OYSEU) has filed for a $200 million SPAC to pursue a broad investment thesis, but one informed by the way that AI is shaking up industries. The new SPAC has units each containing one right to a 1/10 share and it will have 24 months to initially complete a business combination without...