This afternoon, Big Rock Partners Acquisition Corp. (BRPA), released the details of their shareholder vote to approve their extension deadline to August 22, 2019, from May 22, 2019. Big Rock has extended twice now, for $0.10 for each 3-month extension, however, this time around they will be extending for $0.02 per month for the next three months, or an aggregate of $95,604.50 each month.
Per the 8-K, holders of 2,119,772 shares of the Company’s common stock exercised their right to convert their shares into cash at a conversion price of approximately $10.43 per share, for an aggregate conversion amount of $22,099,233.09. That means there is approximately $42,627,476 left in trust, but the additional $95,604.50 was also added to the trust as of today.
Big Rock now has an extra three months to announce a deal and close, but three months is tight so unless they announce something ASAP, another extension is most likely in their future.
FOR | AGAINST | ABSTAIN | Broker Non-Votes |
6,196,187 | 272,273 | 0 | 0 |
Terms Tracker for the Week Ending April 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Passover and school spring break starts next week, which most likely means a slowdown in SPAC filing activity. Although Churchill IX is now rumored to...
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...