SCAC will now have until December 31, 2018 to complete their transaction
Saban Capital Acquisition Corp. released the results of its shareholder vote to extend their completion deadline to December 31, 2018. 25,459,87 shareholders voted for the extension, while 2,038,707 shareholders voted against. However, 3,842,224 shareholders opted to redeem their shares at $10.19 per share for an aggregate amount of $39.15 million.
Saban will now have an additional three months to complete their previously announced business combination agreement with Panavision and Sim Video, a combined company that will provide end-to-end production and post-production services to the entertainment industry. Additionally, Saban will also be able to extend to March 31, 2018 if they have executed a definitive agreement by December 31, 2018.
The new currently estimated funds in trust is now approximately $217 million (including estimated interest).
| FOR | AGAINST | ABSTENTIONS |
| 25,459,870 | 2,038,707 | 2,000 |
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...