Ahead of GreenVision Acquisition Corp.’s (GRNVU) anticipated IPO pricing tonight, below is a short summary of Monday’s notable evening news.
OPES ACQUISITION CORP. (OPES)
Early this afternoon, Opes Acquisition Corp. (OPES), released the details of their shareholder vote to approve their extension deadline from November 15, 2019 to December 16, 2019, or January 15, 2020 if they extend an additional 30 days further. As you can see below, investors overwhelmingly voted yes to give them a two-month extension. Additionally, OPES had approximately $96 million held in trust heading into the vote and only 228,001 shares opted to redeem at a price of $10.43 per share. As a result of those redemptions, $2,378,050 was removed from trust and the number of public shares outstanding is now 8,989,246. That’s a great extension vote result. The approximate new trust value is $93.8 million.
As a reminder, the Company’s Sponsor will be contributing $0.0325 for each public share that was not converted in connection with the Extension for each 30-day extension, or $0.065 if OPES needs the full two-months.
RESULTS
| FOR | AGAINST | ABSTAIN | BROKER NON-VOTES |
| 8,119,034 | 265,798 | 1,413 | 0 |
TWELVE SEAS INVESTMENT CORP. (BROG)
Twelve Seas Investment Company (BROG), which recently set their shareholder vote date for December 17th to complete their combination with Brooge Petroleum, announced Brooge intends to engage in discussions with current investors and potential investors of Twelve Seas, regarding Brooge Holdings paying a quarterly dividend to its public shareholders following the consummation of the business combination. However, the press release went on to say that, “The amount and terms of such dividend, if any, have not yet been determined and no assurance can be given that Brooge Holdings will ultimately pay any dividend to its shareholders.” So it’s a possibility, but no guarantees.
Additionally, there was big volume today (and Friday as well) in Twelve Seas’s share. Today saw 2,084,049 shares trade hands and Friday saw volume of 1,643,679. However, the share price never traded above the current estimated trust value of $10.31 per share and closed at $10.29. Whether that’s investors interested in the above dividend, hard to confirm.
(Brooge Petroleum is a United Arab Emirates (“UAE”) company in the oil storage and services business.)
Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...
This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...
At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...