This morning, Capitol Investment Corp. IV (CIC), released the details of their shareholder vote to approve their combination with Nesco Holdings. However, once again, no details on redemption counts, or at what price, were provided. Additionally, we still do not have a press release announcing when closing will occur or any symbol changes.
What was provided were the vote counts.
| FOR | AGAINST | ABSTAIN | BROKER NON-VOTES |
| 38,638,113 | 5,201,755 | 0 | 0 |
As you can see, even though a solid number of votes were counted in the “Yes” column, there were a surprising number of “No” votes too, or approximately $52 million worth. However, only the following sentence was provided in regards to redemption amounts:
“The number of holders of Capitol public shares exercising redemption rights in connection with this vote did not result in Capitol having less than $5,000,001 of net tangible assets after giving effect to all holders of public shares that properly demand redemption of their shares into cash.”
This isn’t very helpful. Unfortunately, we’ll have to wait for additional filings to see what this float actually looks like.
You can read the full results HERE.
AltC (NYSE:ALCC) has reportedly been taking the pitch deck for its combination with nuclear fission firm Oklo on the road in recent weeks, which has generated the rare result of a SPAC trading significantly above its trust value still well before completing its deal. The SPAC has an estimated $10.59 per share in its trust...
Trump Media (NASDAQ:DJT) is down about -15% in the pre-market following the filing of its first S-1 since closing its combination with Digital World, and this includes the issuance of the 21,491,251 shares. Of these, 14,375,000 are to be made available for those exercising warrants while the rest would go out to note holders from...
At the SPAC of Dawn This week, bookended by the end of Ramadan and the beginning of Passover, could wind up stacked with events to avoid those holiday times, but for now SPACs have scheduled just six extension votes for this stretch. Redwood (NASDAQ:RWOD) and Genesis Growth Tech (OTC:GGAAF) have yet to release results from...
Terms Tracker for the Week Ending April 12, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. The month of April is still feeling pretty sleepy, but there’s reason to believe that will change relatively soon with some notable events lined up...
The SPAC boom of 2020-2021 brought the asset class into sectors they had never entered before and that had generated few if any public companies of any kind. Space was one of these, but it appeared to be a passing fascination as soon as macro financial winds changed. That could be about to change once...