Big Rock Partners Gets Ready for their Extension Vote
by Kristi Marvin on 2019-05-07 at 12:14pm

Big Rock Partners Acquisition Corp. (BRPA), filed a definitive proxy statement this morning for their upcoming shareholder vote to extend their completion deadline for another three months to August 22, 2019.  BRPA’s current deadline, is May 22nd, having already been extended twice from February 22, 2019 and from November 22nd, 2018.

Big Rock, which raised $69 million in their IPO back on November 20th of 2017, had only twelve months to complete their business combination and for the last two extensions, BRPA deposited $690,000 into the trust (or $0.10 per share) as required, each time.  Now, they will need to go to a shareholder vote to extend even further.  However, if the new extension is approved, BRPA will contribute $0.02 for each public share that is not redeemed in connection with the vote for each additional month they need (or $0.06 if they need the full three months).

Three months is an awfully short amount of time.  If BRPA were to announce a deal the day after the vote (which is on May 21st), it would be challenging to wrap things up, get their proxy through the SEC, and market the transaction to new investors, and all by August 22nd.  Plus August is a slow month and most people are on vacation. That’s not to say it can’t be done, but an additional extension vote in August has a better than average chance of happening.

As a reminder, Big Rock Partners stated focus is on businesses in the senior housing and care industry in the United States and is a 100% in trust SPAC.  The unit is comprised of one share of common stock, one-half of one warrant and one right to receive one-tenth (1/10) of one share of common stock upon the consummation of an initial business combination.

 

Big Rock Partners Gets Ready for their Extension Vote
Recent Posts
by Nicholas Alan Clayton on 2025-07-11 at 8:24am

At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...

by Kristi Marvin on 2025-07-10 at 8:31am

A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...

by Nicholas Alan Clayton on 2025-07-10 at 8:27am

At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...

by Nicholas Alan Clayton on 2025-07-09 at 12:57pm

Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....

by Nicholas Alan Clayton on 2025-07-09 at 8:22am

At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved