News Update: AHPA, OSPR, JSYN, SCAC
by Kristi Marvin on 2018-08-21 at 7:06pm

The Latest News in SPACs


AHPA:  Avista Healthcare Public Acquisition Corp.

Avista Healthcare filed a preliminary proxy tonight to extend their completion deadline by 120 days from October 14th to February 15th, 2019, via shareholder vote. As of August 15, 2018, there is approximately $315,299,762 held in trust and the estimated per share redemption price at that date would have been approximately $10.17.  The record date and shareholder vote date have not yet been set.


OSPR: Osprey Energy Acquisition Corp.

Osprey Energy Acquisition Corp.  announced on Monday that its stockholders have approved Osprey’s acquisition of the assets of Royal Resources L.P., an entity owned by funds managed by Blackstone Energy Partners and Blackstone Capital Partners.

Osprey expects the transactions to close in the coming days, subject to customary closing conditions, and the new company will be named, Falcon Minerals Corporation.

Additionally, Osprey announced that none of Osprey’s stockholders exercised their right to redeem in connection with the business combination.


JSYN:  Jensyn Acquisition Corp.

Jensyn Acquisition Corp. announced that it has agreed to contribute to $.042 per month for a period of four months for each public share that is not converted into cash at Jensyn Acquisition’s special meeting of stockholders being held on August 29, 2018.  The total contribution amount will be an additional $0.168 per share for the four month period ending January 3, 2019. This contribution will increase funds available in Jensyn Acquisition’s trust account for the conversion of shares from approximately $10.81 per share on August 29, 2018 to approximately $10.98 per share at January 3, 2019.

The purpose of the extension is to provide time for the Company to complete its previously announced business combination with Oneness Global, an e-commerce company based in China which does business under the name HEFA Global.


SCAC: Saban Capital Acquisition Corp.

Saban Capital Acquisition Corp. set a date for a shareholder vote to approve an extension of their completion deadline.  The vote will take place on September 18th, and Saban will be asking shareholders to move the deadline date of September 21, 2018 to December 31, 2018 (or March 31, 2019 if they have executed a definitive agreement for an initial business combination by December 31, 2018).

Based upon the amount in the Trust Account as of June 30, 2018, which was $253,400,786, Saban anticipates that the per-share price at which public shares will be redeemed from cash held in the Trust Account will be approximately $10.13 at the time of the vote.


 

 

Recent Posts
by Nicholas Alan Clayton on 2024-03-28 at 1:35pm

News and Rumors PR: Bannix (NASDAQ:BNIX) has provided more information on the combination with VisionWave that it announced yesterday, specifying that the imaging technology that VisionWave will acquire from GBT Technologies will primarily seek out applications in military combat scenarios and geological surveys. PR: Grove Collaborative (NYSE:GROV), which combined with Virgin Group II in June...

by Nicholas Alan Clayton on 2024-03-28 at 7:47am

At the SPAC of Dawn Fed Chair Jerome Powell has given new hints that the administration would be showing greater levels of comfort with inflation if a cut could help improve unemployment numbers. Those numbers could get an update today at 8:30 am ET to bring new jobless claims as well as final prices for...

by Nicholas Alan Clayton on 2024-03-27 at 1:31pm

News and Rumors CNBC: Former WeWork (OTC Pink:WEWKQ) founder Adam Neumann has offered to buy back control of the company for $500 million but has yet to secure the necessary financing. WeWork went public with BowX in October 2021. PR: Satellite telecom firm Spire Global (NYSE:SPIR) has signed an agreement to build and launch two...

by Nicholas Alan Clayton on 2024-03-27 at 11:38am

Bannix (NASDAQ:BNIX) has entered into a definitive agreement to combine with VisionWave Technologies for $30 million. The combined company is expected to trade on the Nasdaq once the deal is completed with an initial outside date of September 14. Transaction Overview Bannix has about $17 million in its trust after seeing 77.4% of its shares...

by Nicholas Alan Clayton on 2024-03-27 at 7:33am

At the SPAC of Dawn Much of the attention yesterday was on tracking the swings of the newly-completed Trump Media (NASDAQ:DJT) deal with the FT going as far to suggest it may “make SPACs great again.” Not all of the day’s data points were on the positive side of the ledger, however. IB Acquisition Corp....

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved