Saban Capital Acquisition Corp. (SCAC)
Saban Capital filed a proxy this afternoon for a shareholder vote. Unfortunately, it’s not to vote on their business combination with Panavision and Sim. Instead, shareholders will be asked to vote on the re-appointment of two Class B Directors and to ratify KPMG as their independent public accounting firm.
Since there was no mention of a vote for their business combination in the filing, this more than likely means Saban will be extending their deadline to March 31, 2019. As a refresher, Saban can extend if they have executed a definitive agreement by December 31, 2018. Although, with no additional funds contributed to the trust.
To be clear, there is no definitive word as of yet on an extension, but since there is no mention in the current proxy regarding a vote on the combination, it would be unlikely they would squeeze in another proxy and vote between December 20th and December 31st. However, additional news should be forthcoming.
We’ll keep you updated as soon as additional information is provided.
Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...