Oxbridge Acquisition Corp. (NASDAQ: OXAC) announced this afternoon that its special meeting, originally scheduled for August 4, has been postponed to 4:00 p.m. ET on August 7.
As a result of this change, the SPAC has extended the redemption deadline to 5:00 p.m. ET on August 3. At the meeting, stockholders of Oxbridge will be asked to vote on a proposal to approve its business combination with private aviation booking and membership platform Jet Token.
The parties inked their $45 million deal earlier this year in February. Oxbridge has an estimated $12.12 million in its trust after seeing 89.68% redeemed during a vote in November 2022. The SPAC did not supplement this with additional committed financing.
Las Vegas-based Jet Token offers fractional aircraft ownership, jet card, aircraft brokerage and charter service through its fleet of private aircraft and those of its Argus Platinum operating partner. Earlier this week, the company announced the launch of its AI-powered charter booking application, CharterGPT, to automate the manual process of booking a private jet.
Upon the closing of the transaction, the combined company will be named Jet.AI Inc. and its securities are expected to be publicly listed on Nasdaq under the ticker symbol “JTAI”.
Dune Acquisition Corporation (NASDAQ:DUNE) announced in an 8-K today that it has once again modified its agreement with sustainable energy firm Global Hydrogen. This amendment marks a reduction in Global Hydrogen’s equity value from $48 million to $43 million, alongside an increase in the available shares of common stock that is for the Global Gas Corporation...
At the SPAC of Dawn After mixed signals for the consumer sector earlier this month, initial Black Friday sales numbers have shown that Americans were not too stuffed for a shopping spree this year. Shoppers bagged between $9.8 billion and $10 billion in goods online, depending on one’s preferred source, either of which would be...
Terms Tracker for the Week Ending November 24, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This being the Thanksgiving holiday week, we are thankful for a lot of things, but mostly that 2023 is almost over. It’s been a rough...
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IB Acquisition Corp. submitted its S-1 filing Friday afternoon for a $100 million IPO, coming right on the heels of Bayview Acquisition Corp, which also filed its S-1 that day. IB is also similar to Bayview in that its units do not feature a warrant but include 1 right for 1/10. However, its trust is slightly...