It’s not the weekend yet…we have a few more updates for you, provided below.
PURE ACQUISITION CORP. (PACQ)
As expected, Pure Acquisition Corp. (PACQ), filed a preliminary proxy this afternoon to extend their deadline from February 21, 2020 to May 21, 2020. Pure just finished up their tender offer for their warrants (at $1.00), whereby they were able to reduce their public warrants to just 3,158,195, or 15% of their original 20,700,000 warrants. However, since they’re running out of time to schedule a shareholder vote with HighPeak Energy, they need to extend. However, that also means they will be launching a brand new tender offer at $1.00 for the remaining 3,158,195 warrants. (Pure must launch a new tender, but you can go HERE to read why).
However, a date for the extension vote has not yet been set, but should occur just before the February 21st deadline. Additionally, Pure will be contributing $0.033 per share for non-redeemers, or $0.099 in total if Pure needs to use all three months. That’s an attractive contribution, so it should protect their cash in trust.
GORDON POINTE ACQUISITION CORP. (GPAQ)
Gordon Pointe Acquisition Corp. (GPAQ) released the results of their extension vote (held today) to extend their deadline one month to February 29th, 2020, and 100% of the 13,027,837 shares that voted, voted “For” to extend. However, 3,011,003 shares opted to redeem at a per share price of $10.61. That removes $31.9 million from trust, leaving $85,331,307 and 8,042,536 public shares outstanding.
Gordon Pointe will be contributing $0.033 per share to trust for the month for non-redeemers, or $265,403 total.
MOSAIC ACQUISITION CORP. (Vivint Smart Home, VVNT)
Mosaic Acquisition Corp. also released the results of their shareholder vote to complete their combination with Vivint Smart Home (VVNT). At that January 17, 2020 vote, 31,074,592 shares opted to redeem at a price of $10.29 per share, removing approximately $319.8 million from trust. That left approximately $35.2 million, but keep in mind that Vivint had already rounded up a number of financings so that there would be a minimum of $790 million in net proceeds at closing. The $35.2 million at this point isn’t as meaningful.
HEALTHCARE MERGER CORP. (HCCO)
Healthcare Merger Corp. (HCCO), filed an 8-K this afternoon, announcing that commencing January 28, 2020, holders of the units sold in the Company’s initial public offering may elect to separately trade shares of the Company’s Class A common stock and warrants included in the units. The shares and warrants will trade on the Nasdaq Capital Market under the symbols “HCCO” and “HCCOW,” respectively. Those units not separated will continue to trade on the Nasdaq Capital Market under the symbol “HCCOU.”
Holders of Units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the Units into shares of Class A Common Stock and Warrants.
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...