And it was pretty good…
Trinity Merger Corp., which recently announced the closing of their business combination with Broadmark Realty Capital Inc. (BRMK), filed additional documents yesterday, via an 8-K. Albeit, under the new company name of Broadmark Realty Capital. However, contained within the 8-K were the results of their combination vote.
Per the 8-K, there were 7,899,028 shares of Trinity Class A Common Stock that were redeemed at the shareholder vote at a per share price of approximately $10.45352229. That means, approximately $82,572,665 was removed from trust leaving $278,073,851 cash for the combination. That’s only 22.9% redeemed, which is pretty good, all things considered. That also means approximately 26,600,972 million SPAC public shares will remain in Broadmark’s float.
Additionally, including shares issued in the transaction and founder shares, immediately after the Closing, the Company had 132,014,635 shares of Broadmark Realty Common Stock outstanding total. Furthermore, Broadmark has 41,674,613 Company Public Warrants outstanding and 5,186,676 Company Private Placement Warrants outstanding.
As a reminder, the Broadmark Realty Common Stock is now listed on he NYSE under the symbol “BRMK” and the Company’s Public Warrants are listed on the NYSE American LLC (“NYSE Amex”) under the ticker symbol “BRMK WS.
ADVISORS
- B. Riley FBR, Inc. served as capital markets advisor and private placement agent to Trinity
- Gibson, Dunn & Crutcher LLP acted as Trinity’s legal advisor
- Raymond James & Associates, Inc. acted as Trinity’s financial advisor
- Bryan Cave Leighton Paisner LLP served as legal advisor to Broadmark
- CS Capital Advisors, LLC acted as financial advisor to Broadmark
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...
At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose...
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...