TPG Pace Holdings (TPGH) is starting the month off on a high note since it was announced this morning that Clairvest, its minority shareholder that had previously filed a lawsuit to block the merger between TPGH and Accel Entertainment, has voluntarily dismissed its litigation. The lawsuit had claimed that the merger violated Clairvest’s shareholder approval rights and did not constitute a valid drag-along sale in accordance with Accel’s Charter. However, it seems all parties have come to an agreement and now the runway has been cleared to proceed with the business combination.
Additionally, it was announced on August 29th that Accel had entered into a definitive agreement to acquire Grand River Jackpot LLC for an enterprise value of $108 million and as a result, the investor presentation has been updated. The new enterprise value for the Accel acquisition is now $984 million, up from $884 million, previously. Grand River Jackpot is one of the first licensed video gaming terminal operators in Illinois with more than 451 locations with 1,893 video game terminals.
TPGH has an extension coming up later this month with an actual shareholder vote date as yet to be determined. However, their clock runs out on Monday, September 30th, so it is anticipated to take place right around that date. Most likely, the Friday prior – September 27th. The current preliminary proxy still has quite a few blanks. In particular, mention of a contribution to trust to extend (if any), but look for a definitive proxy to be filed any day now to provide more clarity.
You can read the press release HERE, and review the new presentation HERE.
June is set to be one of the quietest months in some time in terms of sponsors and de-SPAC’d companies coming free from their lock-ups, owing to the quieter periods for transactions closing that occurred six and 12 months ago. Up first will be company shareholders for East Asian media conglomerate TNL Mediagene (NASDAQ:TNMG) on...
Pioneer I (NASDAQ:PACHU) has filed for a $220 million SPAC to hunt for a healthcare target with a mix of industry veterans heading up its team. The new SPAC is the 12th new S-1 underwritten by Cantor Fitzgerald this year as left lead as it hopes to join the 10 SPACs that the underwriter has...
At the SPAC of Dawn This week comes to an end with a flurry of SPAC votes including three special meetings called for shareholders to approve business combinations. Aetherium (OTC:GMFI) was also scheduled to seek shareholder approval for its extension proposal, but has punted this vote for two weeks to June 13. Two of today’s...
At the SPAC of Dawn After multiple days of market rallies, traders are set to ingest a full plate of economic indicators today with jobless claims coming first, followed by a GDP growth revisions, home sales and a raft of Fed comments. GDP figures for the first quarter are broadly forecast to be revised downward...
Jena Acquisition Corporation II (NASDAQ:JENAU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the NYSE under the symbol “JENA.U”, Thursday, May 29, 2025. The new SPAC plans to combine with a target company in one of the areas of expertise of its founders, which include fintech,...