Tiberius Acquisition Corp. (TIBR), filed an 8-K this afternoon detailing the results of their shareholder vote, held earlier today, to approve their business combination with International General Insurance Holdings Ltd. (“IGI”), an A (Excellent) AM Best rated international specialist (re)insurer underwriting a worldwide portfolio through its presence in Bermuda, London, Amman, Dubai, Labuan and Casablanca. As you can see in the table below, the combination was approved with 15,657,512 shares in the “For” column and only 103,595 shares voting “Against” this transaction.
FOR | AGAINST | ABSTENTIONS |
15,657,512 | 103,595 | 200,000 |
Additionally, in connection with this vote, A total of 7,910,076 shares of common stock were presented for redemption at a redemption price of approximately $10.43 per share, for an aggregate redemption amount of roughly $82,502,092.7. That leaves an approximate trust balance of $97.4 million. Given how volatile the markets have been this week, that’s a pretty good result.
Tiberius expects their combination to be completed on or about March 17, 2020, however, keep in mind that they have a back-up “extension vote”, to be held on March 19th, if they run into any delays at closing (paperwork or otherwise).
ADVISORS
- RBC Capital Markets is serving as exclusive financial advisor to IGI.
- Freshfields Bruckhaus Deringer LLP is acting as legal advisor to IGI.
- Cantor and Dowling & Partners are serving as capital markets advisors to Tiberius.
- Cantor is serving as private placement agent to Tiberius.
- Ellenoff Grossman & Schole LLP and Lamson Dugan & Murray LLP are serving as legal advisors to Tiberius.


At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...