Greenland Acquisition Corp. (GLAC), recently announced that its shareholders have approved their business combination with Zhongchai Holding (Hong Kong) Limited, a developer and manufacturer of traditional transmission products for material handling machineries. Zhongchai is also a developer of a robotic cargo carrier prototype expected to be available for commercial use in the near future in China.
As part of the transaction, the Company changed its name to “Greenland Technologies Holding Corporation”. As a result, the Company expects that its ordinary shares and warrants will begin trading on The Nasdaq Capital Market under the ticker symbols “GTEC” and “GTECW,” respectively, starting on or about October 28, 2019, and that its units and rights will cease trading as of the close of business on October 28, 2019.
At the SPAC of Dawn Several sleepy weeks in SPACland come to an end today with five votes, including BITE‘s (NYSE:BITE) completion vote for its combination with plant-based food producer Above Food. Similarly, CONX (NASDAQ:CONX) is to hold its tender offer to complete its acquisition of the DISH Wireless HQ. Two more SPACs are holding...
Terms Tracker for the Week Ending April 26, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As expected, it was a quiet week on the new issuance front thanks to Passover and school spring break. Other than 8-ks and some amendments...
AI has quietly been creeping to the top of the buzziest sectors for SPAC deals, but it’s become host to an even larger arms race in the private funding market. Elon Musk is currently pushing a $6 billion capital raise for his OpenAI competitor xAI at a valuation of $18 billion, according to TechCrunch, while...
At the SPAC of Dawn After a tepid month for SPAC activity in April, prominent teams are already scheduling things to make for some fireworks in early May. AltC (NYSE:ALCC) has already been turning heads as being the rare SPAC to trade significantly above trust value before close, and it has now booked the completion...
At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...