Big Rock Partners Acquisition Corp. (BRPA), filed a preliminary proxy statement this evening to extend their current deadline from March 23, 2020 to an as-yet-to-be-determined date. However, this will be BRPA’s fourth extension vote since their IPO on November of 2017.
BRPA was initially given twelve months to complete a business combination, but has previously extended twice for three months for $0.10 per share to trust (each time). The most recent extension (the third extension) BRPA contributed $0.02 per public share per month for each public share that was not redeemed at its extension vote. It remains to be seen what the contribution will be per share for their fourth extension vote since that information is currently left blank in the proxy. However, the good news is, BRPA has left a space for it.
The record date for the extension vote is set as March 3, 2020 and the vote date will be March 23rd. Look for a subsequent amended preliminary proxy or definitive proxy shortly with the currently missing information provided.
Terms Tracker for the Week Ending March 7, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. It was an extremely quiet week on the SPAC front with no IPOs pricing, but there were three new S-1 filings. There was also only...
At the SPAC of Dawn If things seem like they are accelerating fast to start 2025, that is even more so for the space sector, which had a big, and occasionally explosive, week this week. 2023 de-SPAC Intuitive Machines (NASDAQ:LUNR) landed on the moon a second time yesterday afternoon, but it may have seen its...
At the SPAC of Dawn SPACs have largely steered clear of the fintech sector, which used to be among its favorite hunting grounds of late, both due to unfavorable macro pressures and the lack of clear action on the traditional IPO side to comp to. That may soon change as buy-now-pay-later firm Klarna has confidentially...
At the SPAC of Dawn Stock market whip saws based on US government action are not likely going anywhere as President Donald Trump conceded “a little disturbance” is coming to the economy in a speech before a joint session of Congress. This pain in the short term is to be primarily the result of the...
Cal Redwood Acquisition Corp. has filed for a $200 million SPAC IPO, aiming to focus on opportunities in the TMT (Technology, Media, and Telecommunications) sector. The blank-check company intends to list on the Nasdaq under the symbol “CRAU”, offering 20,000,000 units at $10.00 each, with the trust funded at 100%. The unit structure includes a...