But the warrant amendment fails….
Nebula Acqusition Corp. (NEBU), announced via 8-K this evening that their business combination with Open Lending was approved by shareholders. At the vote, 10,997,246 shares opted to redeem, which is about 40% of NEBU’s public SPAC shares.
Additionally, it was also released that the warrant amendment proposal, which recently increased the warrant redemption price from $1.50 to $1.80 per whole warrant, was voted down, with only 29% of voting warrant holders voting in favor of the proposal.
Warrant Amendment Proposal
| FOR | AGAINST | ABSTENTIONS |
| 2,296,694 | 5,609,143 | 0 |
Since the warrant proposal did not pass, all warrant holders will now keep their warrants.
No word yet on a closing date, but a more formal press release is probably forthcoming. In the meantime, we get to put Nebula in the “completed” column as the 17th SPAC to complete their combination this year.
You can view all of the vote results HERE.
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...