Viveon Health (NYSE:VHAQ) has adjourned its special meeting to complete its transaction with Suneva Medical until 12 pm ET February 3.
The SPAC noted that it received requests to redeem 1,798,631 shares in connection with the vote out of 1,844,774 public shares it had remaining. This would remove about $19.19 million from the $19.68 million it had remaining its trust account.
Viveon pulled together a $10 million PIPE to support the transaction but this would not be enough meet the deal’s $30 million minimum cash condition, which was itself lowered from $50 million in a July 2022 amendment.
San Diego-based Suneva produces a line of anti-aging products and medical devices for cosmetic procedures. It expected to generate about $50 million in revenue in 2022 at the time of the deal’s announcement.
Terms Tracker for the Week Ending May 26, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As we head into the holiday weekend, it’s looking like SPACs will end the month of May with an IPO count of three. Technically, there’s...
Latest SPAC Liquidations: Social Capital Suvretta Holdings II & IV, Sculptor Acquisition Corp I, Logistics Innovation Technologies Corp., and Senior Connect I Social Capital Suvretta Holdings Corp. II (DNAB) to Liquidate on June 30 On May 26, Social Capital Suvretta Holdings Corp. II (NASDAQ:DNAB) announced that it would not complete its initial business combination by its...
Latest Non-Redemption Agreements: Southport Acquisition Corp., and Social Leverage Acquisition Corp. I Southport Acquisition Corporation (PORT) Adds Non-Redemption Agreement On May 25, 2023, Southport Acquisition Corporation (NYSE:PORT) and its sponsor, Southport Acquisition Sponsor LLC, entered into voting and non-redemption agreements with unaffiliated third parties in exchange for such third parties agreeing not to redeem an aggregate...
ST Energy Transition I Ltd. (NYSE: STET) announced this afternoon that it has cancelled its meeting to vote on an extension proposal. The SPAC initially announced the pricing of its $250 million IPO in December 2021 and had 18 months on its timeline to combine with a target. If the SPAC received shareholder approval of an...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: VinFast recalls first batch of EVs in the US, Arrival seeks second chance with EV tax credits, and QualTek files for bankruptcy Vietnam’s VinFast recalls first batch of US-bound EVs over safety risk Vietnamese...