After the Closing Bell: IPV.U, TIBR, HCCH, HHHH
Tonight’s notable news provided below.
INTERPRIVATE ACQUISITION CORP. (IPV.U)
InterPrivate Acquisition Corp. (IPV.U), which was widely expected to price yesterday for trading today, and was then subsequently moved to tonight, has now been further pushed off to Monday, February 3, 2020, for trading Tuesday, February 4, 2020. No real issues here, it just sometimes takes a little longer than expected to get through SEC comments.
Hopefully, InterPrivate gets to kicks off the February IPOs by pricing on Monday now, but if not, Tuesday or Wednesday. Shouldn’t be much longer.
TIBERIUS ACQUISITION CORP. (TIBR)
Tiberius Acquisition Corp. (TIBR), announced today that its intended combination company, International General Insurance Holdings Ltd. (“IGI”), received regulatory approval from the Bermuda Monetary Authority on January 28, 2020.
This approval is one of necessary steps towards successfully completing the transaction with Tiberius. However, IGI is still awaiting approval from additional regulatory agencies including the Prudential Regulation Authority (UK) and the Dubai Financial Services Authority.
Nonetheless, it was also announced that upon close, IGI will be domiciled in Bermuda as International General Insurance Holdings Limited and trade under the NASDAQ ticker “IGIC”.
HL ACQUISITION CORP. (HCCH)
This afternoon, HL Acquisition Corp. (HCCH), filed a preliminary proxy to extend their March 2, 2020 deadline. However, we don’t know as of yet how much time they will be asking for since that is currently left blank. BUT….HL Acquisition Corp. will be offering a contribution to trust for those additional months, but again, we don’t know yet how many cents-per-share since that part was also left blank.
What we do know is that the extension vote will take place on March 2, 2020, with a record date of February 5, 2020, and a redemption deadline of February 27, 2020. Look for a definitive proxy (with more information) to be filled in the next week or so.
WEALTHBRIDGE ACQUISITION LTD. (HHHH)
Wealthbridge Acquisition Limited (HHHHU), which is still working its way toward closing its combination with Scienjoy Inc., announced that it will be extending it’s deadline another three months by depositing $575,000 into its trust account, representing $0.10 per share. Wealthbridge’s current deadline of February 8, 2020 will now be extended to May 8, 2020. This is also Wealthbridge’s first 3-month extension, but keep in mind that they can extend two more times (for 3-months each) for $0.10 per share contribution at each extension.